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Pension Schemes (Northern Ireland) Act 1993

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This is the original version (as it was originally enacted).

16Transfer of accrued rights

(1)Regulations may prescribe circumstances in which and conditions subject to which—

(a)a transfer of or a transfer payment in respect of—

(i)an earner’s accrued rights to guaranteed minimum pensions under a contracted-out scheme;

(ii)an earner’s accrued rights to pensions under an occupational pension scheme which is not contracted-out, to the extent that those rights derive from his accrued rights to guaranteed minimum pensions under a contracted-out scheme; or

(iii)the liability for the payment of guaranteed minimum pensions to or in respect of any person who has become entitled to them,

may be made by an occupational pension scheme to another such scheme or to a personal pension scheme;

(b)a transfer of or a transfer payment in respect of an earner’s accrued rights to guaranteed minimum pensions which are appropriately secured for the purposes of section 15 may be made to an occupational pension scheme or a personal pension scheme.

(2)Any such regulations may be made so as to apply to earners who are not in employment at the time of the transfer.

(3)Regulations under subsection (1) may provide that any provision of this Part (other than sections 14, 15 and 39 to 41, and sections 22 to 29 so far as they apply to personal pension schemes) or of Chapter III of Part IV or Chapter II of Part V shall have effect, where there has been a transfer to which they apply, subject to such modifications as may be specified in the regulations.

(4)Regulations under subsection (1) shall have effect in relation to transfers whenever made unless they provide that they are only to have effect in relation to transfers which take place after they come into operation.

(5)The power conferred by subsection (1) is without prejudice to the generality of section 177(2) or section 17(5) of the [1954 c. 33 (N.I.).] Interpretation Act (Northern Ireland) 1954.

(6)In the provisions mentioned in subsection (3) “accrued rights”, in relation to an earner, means the rights conferring prospective entitlement under the scheme in question to the pensions to be provided for the earner and the earner’s widow or widower in accordance with sections 9 and 13, and references to an earner’s accrued rights to guaranteed minimum pensions shall be construed accordingly.

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