Amendment of the Pension Schemes (Northern Ireland) Act 19932

1

The Pension Schemes (Northern Ireland) Act 19934 shall be amended in accordance with paragraphs (2) to (5).

2

In section 1(1)5 (categories of pension schemes) in the definition of “occupational pension scheme”6 for “member States” substitute “EEA states”.

3

In section 15(4)(a)(i)7 (discharge of liability where guaranteed minimum pensions secured by insurance policies or annuity contracts) for “member State” substitute “EEA state”.

4

In section 28A(2)(a)(i)8 (discharge of protected rights on winding up: insurance policies) for “member State” substitute “EEA state”.

5

In section 176(1) (general interpretation) after the definition of “earnings factors” insert—

  • “EEA agreement” means the agreement on the European Economic Area signed at Oporto on 2nd May 1992, together with the Protocol adjusting that Agreement signed at Brussels on 17th March 1993, as modified or supplemented from time to time;

  • “EEA state”, in relation to any time, means—

    1. a

      a state which at that time is a member State, or

    2. b

      any other state which at that time is a party to the EEA agreement;