Qualifying schemesN.I.
16—(1) A pension scheme is a qualifying scheme in relation to a jobholder (J) if—
(a)it is an occupational pension scheme or a personal pension scheme,
(b)it is registered under Chapter 2 of Part 4 of the Finance Act 2004 (c. 12), and
(c)while J is an active member, the scheme satisfies the quality requirement in relation to J.
(2) The Department may by regulations provide that subsection (1)(b) does not apply in relation to a scheme to which section 25 or 27 applies, if prescribed requirements are satisfied.
(3) The Department may by regulations provide that a scheme is not a qualifying scheme in relation to J if—
F1(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F2(aa). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(ab). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b)while J is an active member, the contributions that must be paid to the scheme by, or on behalf or in respect of, J exceed a prescribed amount, or
(c)the scheme provides for average salary benefits to be provided to or in respect of J and contains prescribed features.
[F4(3A) See also paragraphs1(4) and 2(4) of Schedule 18 to the Pensions Act (Northern Ireland) 2015, which confer power to make regulations providing for a scheme not to be a qualifying scheme in relation to a jobholder in certain circumstances.]
F5(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F5(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 16(3)(a) omitted (16.7.2015) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(2); S.R. 2015/307, art. 2(1)(n)
F2S. 16(3)(aa) omitted (16.7.2015) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(2); S.R. 2015/307, art. 2(1)(n)
F3S. 16(3)(ab) omitted (16.7.2015) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(2); S.R. 2015/307, art. 2(1)(n)
F4S. 16(3A) inserted (16.7.2015) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(3); S.R. 2015/307, art. 2(1)(n)
F5S. 16(4)(5) omitted (16.7.2015) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(4); S.R. 2015/307, art. 2(1)(n)
Commencement Information
I1S. 16 partly in force; s. 16 in force for certain purposes at Royal Assent see s. 118(2)
I2S. 16 in operation at 30.6.2012 in so far as not already in operation by S.R. 2012/266, art. 2, Sch. Pt. 1