The Pensions (2015 Act) (Abolition of Contracting-out for Salary Related Pension Schemes) (Consequential Amendments and Savings) Order (Northern Ireland) 2016

Amendment of the Occupational Pension Schemes (Contracting-out) Regulations

3.  In regulation 1(2) (interpretation) of the Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996(1) in the definition of “section 5(2B) rights”(2)—

(a) in paragraph (a) for “contracted-out by virtue of section 5(2B) of the Act” substitute “that was a salary related contracted-out scheme(3)”;

(b) in paragraph (b)—

(i) after “has been made” insert “(other than a payment made in accordance with regulation 10 of the Contracting-out (Transfer and Transfer Payment) Regulations (Northern Ireland) 1996(4) (transfer payments to occupational and personal pension schemes in respect of section 5(2B) rights))”;

(ii) after “such a scheme,” insert “whether before or after the second abolition date(5),”;

(c) in paragraph (b)(i) for “contracted-out by virtue of section 5(2B) of the Act” substitute “that was a salary related contracted-out scheme”.

(1)

S.R. 1996 No. 493; relevant amending Regulations are S.R. 1997 No. 160, S.R. 1999 No. 486 and S.R. 2012 No. 124

(2)

The definition of “section 5(2B) rights” was substituted by paragraph 5(2) of the Schedule to S.R. 1997 No. 160 and amended by regulation 4(2)(b) of S.R. 1999 No. 486 and Article 12(2)(b) of S.R. 2012 No. 124

(3)

See section 3B of the Pension Schemes (Northern Ireland) Act 1993 (c. 49) as inserted by paragraph 6 of Schedule 13 to the Pensions Act (Northern Ireland) 2015

(4)

S.R. 1996 No. 618; regulation 10 was substituted by regulation 7(4) of S.R. 2012 No. 120 and is amended by regulation 22(3) of S.R. 2016 No. 107

(5)

See section 3A of the Pension Schemes (Northern Ireland) Act 1993 as inserted by paragraph 6 of Schedule 13 to the Pensions Act (Northern Ireland) 2015