Pension Schemes Act (Northern Ireland) 2016 No. 1

PART 1 CATEGORIES OF PENSION SCHEME

Shared risk scheme (sometimes known as “defined ambition”)

3.  A pension scheme is a “shared risk scheme” if—

(a) there is a pensions promise in relation to at least some of the retirement benefits that may be provided to each member, but

(b) the scheme is not a defined benefits scheme.