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SCHEDULES

SCHEDULE 2N.I.OTHER AMENDMENTS TO DO WITH PARTS 1 AND 2

Pensions (Northern Ireland) Order 2005 (NI 1)N.I.

Prospective

24—(1) Article 19 (freezing orders) is amended as follows.N.I.

(2) In paragraph (1), for “which is not a money purchase scheme” substitute “ unless it is excluded by paragraph (1A) ”.

(3) After that paragraph insert—

(1A) A scheme is excluded if—

(a)all the benefits that may be provided under the scheme are money purchase benefits, and

(b)the scheme does not provide for there to be a third party promise about the rate or amount of any benefit at a time before the benefit comes into payment (see paragraph (10A))..

(4) In paragraph (2), for “such a scheme” substitute “ a scheme to which this Article applies ”.

(5) After paragraph (10) insert—

(10A) For the purposes of paragraph (1A)(b), a scheme provides for there to be a third party promise if the scheme—

(a)requires the promise to be obtained from a third party, or

(b)provides for the member to be given the option of requiring a promise to be obtained from a third party (whether or not the option is subject to conditions)..