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Pension Schemes (Northern Ireland) Act 1993

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This is the original version (as it was originally enacted).

33Alteration of rules of contracted-out schemes

(1)Subject to subsection (2), where a contracting-out certificate has been issued, no alteration of the rules of the relevant scheme shall be made so as to affect any of the matters dealt with in 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 Chapter III of Part IV or Chapter II of Part V without the consent of the Board.

(2)Subsection (1) does not apply—

(a)to an alteration consequential on a provision of the [S.I. 1984/1158 (N.I. 8).] Health and Social Security (Northern [S.I. 1985/1209 (N.I. 16).] Ireland) Order 1984, the Social Security (Northern Ireland) Order 1985 or the [S.I. 1986/1888 (N.I. 18).] Social Security (Northern Ireland) Order 1986 (or any provision of this Act derived from any such provision); or

(b)to an alteration of a prescribed description.

(3)Subject to subsection (4), any alteration to which subsection (1) applies shall be void if it is made without the consent of the Board.

(4)A consent given by the Board for the purposes of this section shall, if and to the extent that the Board so direct, operate so as to validate with retrospective effect any alteration of the rules which would otherwise be void under this section.

(5)This section shall continue in force in relation to a scheme after it has ceased to be contracted-out so long as—

(a)any person is entitled to receive, or has accrued rights to, a guaranteed minimum pension under the scheme, or

(b)any person has protected rights under it or is entitled to any benefit giving effect to protected rights under it.

(6)The reference in subsection (5) to a person entitled to receive a guaranteed minimum pension includes a reference to a person so entitled by virtue of being the widower of an earner only in such cases as may be prescribed.

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