The Teachers’ Pensions etc. (Reform Amendments) Regulations (Northern Ireland) 2007

Payment by the Department

6.  In regulation 16(1)—

(a) in paragraph (2A) at the beginning insert “Subject to paragraphs (2B) and (2C)”,

(b) after paragraph (2A) insert—

“(2B) The Department may, before paying any lump sum as mentioned in regulation 12(1A) require the person to whom the payment is to be made to provide a declaration as specified in paragraph (2C) by a date determined by the Department.

(2C) The declaration is a declaration, in a form specified by the Department, signed by that person, to the effect that paragraph 3A of Schedule 29 to the 2004 Act(2) does not apply.

(2D) Where no such declaration is received by the Department by the date referred to in paragraph (2B) the Department may treat the election under regulation 12 for a lump sum benefit as of no effect, and may apply the amount of the lump sum to the purchase of a pension policy from the insurance company referred to in regulation 9 to provide such benefits as appear to it to be suitable.”.

(1)

Regulation 16 (2A) was inserted by regulation 12(a) of S.R. 2006 No. 163

(2)

Paragraph 3A of Schedule 29 to the Finance Act 2004 was inserted by section 159 of the Finance Act 2006 (c.25)