Interpretation of Part II
121.—(1) In this Part—
“active member”, in relation to an occupational pension scheme, means a person who is in pensionable service under the scheme,
“the actuary” and “the auditor”, in relation to an occupational pension scheme, have the meanings given by Article 47,
“the Authority” means the Occupational Pensions Regulatory Authority;
“the Compensation Board” means the Pensions Compensation Board.
“the compensation provisions” has the meaning given by Article 79(3),
“the Crown” means the Crown in right of Her Majesty’s government in Northern Ireland or in right of Her Majesty’s government in the United Kingdom;
“deferred member”, in relation to an occupational pension scheme, means a person (other than an active or pensioner member) who has accrued rights under the scheme,
“employer”, in relation to an occupational pension scheme, means the employer of persons in the description or category of employment to which the scheme in question relates (but see Article 122(3)),
“equal treatment rule” has the meaning given by Article 62,
“firm” means a body corporate or a partnership,
“fund manager”, in relation to an occupational pension scheme, means a person who manages the investments held for the purposes of the scheme,
“government department” means a Northern Ireland department or a department of the government of the United Kingdom;
“independent trustee” has the meaning given by Article 23(3),
“managers”, in relation to an occupational pension scheme other than a trust scheme, means the persons responsible for the management of the scheme,
“member”, in relation to an occupational pension scheme, means any active, deferred or pensioner member (but see Article 122(4)),
“member-nominated director” has the meaning given by Article 18(2),
“member-nominated trustee” has the meaning given by Article 16(2),
“the minimum funding requirement” has the meaning given by Article 56(1),
“normal pension age” has the meaning given by section 175 of the Pension Schemes Act,
“payment schedule” has the meaning given by Article 85(2),
“pensionable service”, in relation to a member of an occupational pension scheme, means service in any description or category of employment to which the scheme relates which qualifies the member (on the assumption that it continues for the appropriate period) for pension or other benefits under the scheme,
“pensioner member”, in relation to an occupational pension scheme, means a person who, in respect of his pensionable service under the scheme or by reason of transfer credits, is entitled to the present payment of pension or other benefits, “prescribed” means prescribed by regulations,
“professional adviser”, in relation to a scheme, has the meaning given by Article 47,
“public service pension scheme” has the meaning given by section 1 of the Pension Schemes Act,
“resources”, in relation to an occupational pension scheme, means the funds out of which the benefits provided by the scheme are payable from time to time, including the proceeds of any policy of insurance taken out, or annuity contract entered into, for the purposes of the scheme,
“the Taxes Act 1988” means the Income and Corporation Taxes Act 1988(1),
“transfer credits” means rights allowed to a member under the rules of an occupational pension scheme by reference to a transfer to that scheme of his accrued rights from another scheme (including any transfer credits allowed by that scheme),
“trustees or managers”, in relation to an occupational pension scheme, means—
in the case of a trust scheme, the trustees of the scheme, and
in any other case, the managers of the scheme, “trust scheme” means an occupational pension scheme established under a trust
(2) For the purposes of this Part—
(a)the accrued rights of a member of an occupational pension scheme at any time are the rights which have accrued to or in respect of him at that time to future benefits under the scheme, and
(b)at any time when the pensionable service of a member of an occupational pension scheme is continuing, his accrued rights are to be determined as if he had opted, immediately before that time, to terminate that service,
and references to accrued pension or accrued benefits are to be interpreted accordingly.
(3) In determining what is “pensionable service” for the purposes of this Part—
(a)service notionally attributable for any purpose of the scheme is to be disregarded, and
(b)no account is to be taken of any rules of the scheme by which a period of service can be treated for any purpose as being longer or shorter than it actually is.