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The Occupational Pension Schemes (Power to Amend Schemes to Reflect Abolition of Contracting-out) Regulations (Northern Ireland) 2015

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2.—(1) In these Regulations—

the Act” means the Pensions Act (Northern Ireland) 2015;

“actuarial valuation” has the meaning given by Article 203(2)(a) of the 2005 Order (actuarial valuations and reports);

“the actuary” means the actuary appointed in accordance with regulation 10(2);

“amendment date” means the date amendments made using the power take effect;

“the calculation date” means the date chosen in accordance with regulation 8(7);

“the effective date” means the date referred to in Article 203(2)(b) of the 2005 Order;

“the power” means the power under section 24(2) (abolition of contracting-out for salary related schemes etc.) to amend an occupational pension scheme;

“the principal employer” means, in relation to a multi-employer scheme—

(a)

a person nominated by the employers, or by rules of the scheme, to act on behalf of the employers for the purposes of Article 208 of the 2005 Order (matters requiring agreement of the employer), or

(b)

where there is no such nominee, a person nominated by the employers to act on their behalf for the purposes of the use of the power;

“the proposed amendments” means the amendments to be certified under paragraph 6(1) of Schedule 14 (power to amend schemes to reflect abolition of contracting-out);

“segregated scheme” means a multi-employer scheme which is divided into 2 or more sections where—

(a)

any contributions payable to the scheme by an employer in relation to the scheme, or by a member employed by that employer, are allocated to that employer’s section, and if more than one section applies to an employer, to the section to which the employment relates, and

(b)

a specified proportion of the assets of the scheme is attributable to each section of the scheme and cannot be used for the purposes of any other section;

“technical provisions” has the meaning given by Article 201(2) of the 2005 Order (the statutory funding objective).

(2) In these Regulations—

(a)any reference to section 24 is a reference to section 24 of the Act, and

(b)any reference to Schedule 14 is a reference to Schedule 14 to the Act.

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