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Part LPension Fund and Payments by Employers

Certain statutory payments to be met out of the fund

Pension increases and cash equivalents under the Pension Schemes (Northern Ireland) Act 1993

L10.—(1) Any increase in a pension which is required by virtue of Chapter III of Part IV of the Pension Schemes (Northern Ireland) Act 1993(1) (protection of increases in guaranteed minimum pensions: anti-franking) shall be paid out of the fund.

(2) Any payment which the Committee is required to make as a result of a person’s taking a right to a cash equivalent under Chapter IV of that Part shall be made out of the fund.