Pension Schemes Act 2021

Section 57

SCHEDULE 4 Money purchase benefits: Northern Ireland

Building Societies Act 1986 (c. 53)

1 In Schedule 10A to the Building Societies Act 1986 (disclosures about directors, other officers and employees in notes to accounts), in paragraph 1(2), in the definition of “collective money purchase benefit” (inserted by Schedule 1 to this Act), after “section 1” insert “or 52”.

Pension Schemes (Northern Ireland) Act 1993 (c. 49)

2 The Pension Schemes (Northern Ireland) Act 1993 is amended as follows.

3 (1) Section 176(1) (general interpretation) is amended as follows.

(2) At the appropriate place insert—

• ““collective money purchase benefit” has the meaning given by section 52 of the Pension Schemes Act 2021;”.

(3) In the definition of “money purchase benefits”—

(a) for “means benefits” substitute “means—

(a)

benefits”;

(b) at the end insert “, and

(b)

collective money purchase benefits;”.

4 In section 176B(1) (money purchase benefits: supplementary), for “the definition” substitute “paragraph (a) of the definition”.

Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13 (N.I.))

5 The Pensions (No. 2) Act (Northern Ireland) 2008 is amended as follows.

6 (1) Section 78 (interpretation of Part 1: pension scheme membership for jobholders) is amended as follows.

(2) At the appropriate place insert—

• ““collective money purchase benefit” has the meaning given by section 52 of the Pension Schemes Act 2021;”.

(3) In the definition of “money purchase benefits”—

(a) for “means benefits” substitute “means—

(a)

benefits”;

(b) at the end insert “, and

(b)

collective money purchase benefits;”.

7 In section 78A(1) (money purchase benefits: supplementary), for “the definition” substitute “paragraph (a) of the definition”.