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Pension Schemes Act (Northern Ireland) 2016

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4.  In section 120 (duty of the Department for Employment and Learning to pay unpaid contributions to schemes), for subsection (3A) substitute—

“(3A) The sum payable under this section by virtue of subsection (3) shall be the lesser of the amounts mentioned in paragraphs (a) and (c) of that subsection in any case where the scheme is—

(a)a defined contributions scheme,

(b)a shared risk scheme under which all the benefits that may be provided are money purchase benefits, or

(c)a shared risk scheme under which all the benefits that may be provided are money purchase benefits or collective benefits.”.

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