The Occupational and Personal Pension Schemes (Authorised Payments) Regulations (Northern Ireland) 2009

Amendment of the Personal and Occupational Pension Schemes (Protected Rights) Regulations

6.  In regulation 8 of the Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 1997(1) (giving effect to protected rights by the provision of a lump sum)—

(a) in paragraph (1)(2) for “either paragraph (1A)” substitute “paragraph (1A), (1AA)”;

(b) after paragraph (1A) insert—

“(1AA) This paragraph is satisfied if the lump sum payment is—

(a) made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004);

(b) a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments), and

(c) made to or in respect of a member.”.

(1)

S.R. 1997 No. 56; relevant amending provisions are S.I. 2006/744 and S.I. 2007/829

(2)

Paragraph (1) was substituted with paragraphs (1) to (1F) by Article 32(3) of S.I. 2006/744 and paragraph (1D) was substituted by Article 5(b) of S.I. 2007/829