The Occupational Pension Schemes (Employer Debt and Miscellaneous Amendments) Regulations (Northern Ireland) 2012

Amendment of regulation 6A of the 2005 Regulations

9.  In regulation 6A(1) of the 2005 Regulations (employment-cessation events: periods of grace)—

(a) in paragraph (1) for “as soon as possible and in any event within one month” substitute “within 2 months”;

(b) in paragraph (3) in the definition of “period of grace” for paragraph (a) substitute—

“(a) the day referred to in paragraph (4), or”;

(c) after paragraph (3) add—

“(4) The day mentioned in paragraph (a) of the definition of “period of grace” in paragraph (3) is—

(a) the day which is 12 months after the cessation date, or

(b) a day which—

(i) is more than 12 months after the cessation date;

(ii) is less than 36 months after the cessation date, and

(iii) the trustees or managers of the scheme choose to nominate in accordance with paragraph (5).

(5) A nomination mentioned in paragraph (4)(b)(iii) may only be made—

(a) in writing, and

(b) before—

(i) the end of 12 months after the cessation date, where no day has previously been nominated under paragraph (4)(b)(iii), or

(ii) the day previously nominated under paragraph (4)(b)(iii).”.

(1)

Regulations 6A to 6D were inserted by regulation 7 of S.R. 2008 No. 132