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The Health and Personal Social Services (Superannuation), Health and Social Care (Pension Scheme) and Health and Personal Social Services (Injury Benefits) (Amendment and Transitional Provisions) Regulations (Northern Ireland) 2009
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- Northern Ireland Statutory Rules
- 2009 No. 65
- PART 1
- Regulation 12
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Amendment of regulation 55
12.—(1) Regulation 55 (Amount of member’s cash equivalent) is amended as provided by paragraphs (2) and (3).
(2) In paragraph (1), omit the words “, calculated and verified as required by Chapter IV of Part IV of the Pension Schemes (Northern Ireland) Act 1993 (transfer values)”.
(3) After paragraph (1), insert—
“(1A) The Department shall—
(a)take advice from the Scheme actuary before determining the factors to be used in the calculation of the member’s guaranteed cash equivalent; and
(b)calculate and verify the amount of the guaranteed cash equivalent in accordance with the Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1996(1).”.
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