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The Pensions (Northern Ireland) Order 1995
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The Pensions (Northern Ireland) Order 1995, Section 67C is up to date with all changes known to be in force on or before 19 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Changes and effects yet to be applied to Article 67C:
- Instrument amended by 1998 c. 11 s.23 Sch.5 Pt.IV Ch.II para.72
- power to am. (prosp.) by 1998 c. 47 s.87
Changes and effects yet to be applied to the whole Order associated Parts and Chapters:
Whole provisions yet to be inserted into this Order (including any effects on those provisions):
- Sch. 2 para. 18(15)(16) repealed by 2012 c. 3 (N.I.) Sch. 2 para. 4(b)
- Sch. 2 Pt. 3 para. 18(8) repealed by 2008 c. 1 (N.I.) Sch. 6 Pt. 1 (Amendment could not be applied - affected provision not available on legislation.gov.uk)
- Sch. 2 Pt. 3 para. 18(18) repealed by 2008 c. 1 (N.I.) Sch. 6 Pt. 1 (Amendment could not be applied - affected provision not available on legislation.gov.uk)
- art. 37(1A)(a) word inserted by 2016 c. 1 (N.I.) Sch. 2 para. 7(a)
- art. 37(1A)(b) inserted by 2016 c. 1 (N.I.) Sch. 2 para. 7(b)
- art. 51(5A)-(5C) inserted by 2016 c. 1 (N.I.) s. 43(1)
- art. 51(7A) inserted by 2016 c. 1 (N.I.) s. 41(1)(b)
- art. 51(9)(10) inserted by 2016 c. 1 (N.I.) s. 42(3) (This amending provision is itself amended by S.I. 2019/193, reg. 7)
- art. 67A(3)(aa)-(ac) inserted by 2016 c. 1 (N.I.) s. 45(3)
- art. 67A(9)(b)(viii)-(x) inserted by 2016 c. 1 (N.I.) s. 45(6)(b)
- art. 73(2)(2A) substituted for art. 73(2) by 2016 c. 1 (N.I.) Sch. 2 para. 11
- art. 75(1)-(1B) substituted for art. 75(1) by 2016 c. 1 (N.I.) Sch. 2 para. 12
- art. 167(3)(aa) inserted by 2016 c. 1 (N.I.) s. 43(2)
[F1The actuarial equivalence requirementsN.I.
67C.—(1) References in the subsisting rights provisions to the actuarial equivalence requirements, in respect of a detrimental modification which is not a protected modification, are to be read in accordance with this Article and Article 67D.
(2) The actuarial equivalence requirements apply in the case of an affected member only if—
(a)the modification is not a protected modification, and
(b)the trustees of the scheme determine that they are to apply in his case.
(3) The actuarial equivalence requirements consist of—
(a)the information requirement (see paragraph (4)),
(b)the actuarial value requirement (see paragraph (5)), and
(c)the actuarial equivalence statement requirement (see paragraph (6)).
(4) The information requirement is satisfied in the case of an affected member if before the modification is made the trustees have taken all reasonable steps to—
(a)give him information in writing adequate to explain the nature of the modification and its effect on him,
(b)notify him in writing that he may make representations to the trustees about the modification,
(c)afford him a reasonable opportunity to make such representations, and
(d)notify him in writing that the actuarial equivalence requirements apply in his case in respect of the modification.
(5) The actuarial value requirement is satisfied in the case of an affected member if before the modification is made the trustees have made such arrangements, or taken such steps, as are adequate to secure that actuarial value will be maintained.
(6) The actuarial equivalence statement requirement is satisfied in the case of an affected member if the trustees have, within a reasonable period beginning with the date on which the modification takes effect, obtained an actuarial equivalence statement relating to the affected member in respect of the modification.
(7) For the purposes of paragraph (6) “actuarial equivalence statement” means a statement in writing which—
(a)is given by—
(i)the actuary appointed in relation to the scheme under Article 47(1)(b), or
(ii)a person with prescribed qualifications or experience or who is approved by the Department, and
(b)certifies that actuarial value has been maintained.
(8) For the purposes of paragraphs (5) and (7) as they apply in relation to an affected member, actuarial value is maintained if the actuarial value, immediately after the time at which the modification takes effect, of the affected member's subsisting rights is equal to or greater than the actuarial value of his subsisting rights immediately before that time.]
F1Arts. 67, 67A-67I substituted (1.11.2005 for certain purposes, otherwise 6.4.2006) for art. 67 by Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), arts. 1(2), 239; S.R. 2005/411, art. 2(5), Sch. Pt. 2
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