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Pension Schemes Act (Northern Ireland) 2016

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This is the original version (as it was originally enacted).

Collective benefits exempt from indexation

This section has no associated Explanatory Notes

41.—(1) In Article 51 of the 1995 Order (annual increase in rate of pension)—

(a)in paragraph (1), for “Subject to paragraphs (6) and (7)” substitute “Subject to paragraphs (6) to (7A)”;

(b)after paragraph (7) insert—

“(7A) This Article does not apply to any pension, or part of a pension, that is a collective benefit.”.

(2) Omit section 21(2) of the Pensions Act (Northern Ireland) 2012, which is no longer needed given subsection (1).

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