The Pensions (Northern Ireland) Order 1995
Part IIntroductory
1Title and commencement
2Interpretation
PART IIOccupational Pensions
Supervision by the Authority
3Prohibition orders
3AProhibition orders: directors of corporate trustees etc.
4Suspension orders
Art. 5 rep. by 2005 NI 1
6Removal or suspension of trustees: consequences
7Appointment of trustees
8Appointment of trustees: consequences
9Removal and appointment of trustees: property
10Civil penalties
11Powers to wind up schemes
12Powers to wind up public service schemes
Art. 13 rep. by 2005 NI 1
14Restitution
15Directions
Member-nominated trustees and directors
16Requirement for member-nominated trustees
17Exceptions
18Corporate trustees: member-nominated directors
19Corporate trustees: exceptions
20Selection, and eligibility, of member-nominated trustees and directors
21Member-nominated trustees and directors: supplementary
Independent trustees
22Circumstances in which following provisions apply
23 Power to appoint independent trustees
25Appointment and powers of independent trustees: further provisions
26Insolvency practitioner or official receiver to give information to trustees
Arts. 26A - 26C rep. by 2005 NI 1
Trustees: general
27Trustee not to be auditor or actuary of the scheme
28Article 27: consequences
29Persons disqualified for being trustees
30Persons disqualified: consequences
Art. 30A rep. by 2005 NI 1
Art. 31 rep. by 2005 NI 1
Functions of trustees
32Decisions by majority
33Investment powers: duty of care
34Power of investment and delegation
35Investment principles
36Choosing investments
36ARestriction on borrowing by trustees
37Payment of surplus to employer
38Power to defer winding up
39Exercise of powers by member trustees
Functions of trustees or managers
40Restriction on employer-related investments
41Provision of documents for members
41AClimate change risk
41BClimate change risk: publication of information
41CArticles 41A and 41B: compliance
Arts. 42–46 rep. by The Employment Rights (Northern Ireland) Order...
Advisers
47Professional advisers
Art. 48 rep. by 2005 NI 1
Receipts, payments and records
49Other responsibilities of trustees, employers, etc.
49ARecord of winding-up decisions
Resolution of disputes
50Requirement for dispute resolution arrangements
50AMeaning of “person with an interest in the scheme”
50BThe dispute resolution procedure
Indexation
51Annual increase in rate of pension
51ZAMeaning of “the appropriate percentage”
51ZBMeaning of “cash balance benefit”
51ARestriction on increase where annuity tied to investments
52Restriction on increase where member is under 55
53Effect of increases above the statutory requirement
54Articles 51 to 53: supplementary
55Article 51: end of annual increase in GMP
Arts. 56 - 61 rep. by 2005 NI 1
Equal treatment
62The equal treatment rule
63Equal treatment rule: supplementary
64Equal treatment rule: exceptions
65Equal treatment rule: consequential alteration of schemes
66Equal treatment rule: effect on terms of employment, etc.
Treatment of overseas residents, etc.
66AProhibition on different rules for overseas residents, etc.
Modification of schemes
67The subsisting rights provisions
67AThe subsisting rights provisions: interpretation
67BThe consent requirements
67CThe actuarial equivalence requirements
67DThe actuarial equivalence requirements: further provisions
67EThe trustee approval requirement
67FThe reporting requirement
67GPowers of the Authority: voidable modifications
67HPowers of the Authority to intervene
67ISubsisting rights provisions: civil penalties
68Power of trustees to modify schemes by resolution
69Grounds for applying for modifications: winding up registered schemes
70Article 69: supplementary
71Effect of orders under Article 69
71AModification by Authority to secure winding-up
72Modification of public service pension schemes
Supervision of winding-up
72AReports to Authority about winding-up
72BDirections by Authority for facilitating winding-up
72CDuty to comply with directions under Article 72B
Winding up
73Preferential liabilities on winding up
73AOperation of scheme during winding up period
73BArticles 73 and 73A: supplementary
74Discharge of liabilities by insurance, etc.
75Deficiencies in the assets
75ADeficiencies in the assets: multi-employer schemes
76Excess assets on winding up
77Excess assets remaining after winding up: power to distribute
Arts. 78 - 84 rep. by 2005 NI 1
Money purchase schemes
85Schedules of payments to money purchase schemes
86Schedules of payments to money purchase schemes: supplementary
87Application of further provisions to money purchase schemes
88Unpaid contributions in cases of insolvency
Assignment, forfeiture, bankruptcy, etc.,
89Inalienability of occupational pension
90Forfeiture, etc.
91Forfeiture by reference to obligation to employer
92Articles 89 to 91: supplementary
Art. 93 rep. by 1999 NI 11
Arts. 94 - 112 rep. by 2005 NI 1
General
113Breach of regulations
114Overriding requirements
115Powers to modify this Part
116Calculations, etc. under regulations: sub-delegation
117Consultations about regulations
118Crown application
Art. 119—Amendments
120“Connected” and “associated” persons
121Interpretation of Part II
122Article 121: supplementary
PART IIISTATE PENSIONS
123Equalisation of pensionable age and of entitlement to certain benefits and increase in pensionable age
Art. 124 rep. by 2002 c. 21
125Additional pension: calculation of surpluses
126Contribution conditions
127Up-rating of pensions increased under section 52 of Contributions and Benefits Act
128Graduated retirement benefit
129Extension of Christmas bonus for pensioners
130Contributions paid in error
131Minor amendments
PART IVCERTIFICATION OF PENSION SCHEMES AND EFFECTS ON MEMBERS' STATE SCHEME RIGHTS AND DUTIES
Introductory
132The “principal appointed day” for Part IV
New certification requirements applying as from the principal appointed day
133New requirements for contracted-out schemes
Reduction in State scheme contributions, payment of rebates and reduction in State scheme benefits
134State scheme contributions and rebates
135Minimum contributions towards appropriate personal pension schemes
136Money purchase and personal pension schemes: verification of ages.
137Reduction in benefits for members of certified schemes
Premiums and return to State scheme
138State scheme, etc. premiums and buyback into State scheme
Protected rights
139Interim arrangements for giving effect to protected rights
140Requirements for interim arrangements
141Interim arrangements: supplementary
142Extension of interim arrangements to occupational pension schemes
143Discharge of protected rights on winding up: insurance policies
Miscellaneous
144Monitoring personal pension schemes
145Earner employed in more than one employment
146Hybrid occupational pension schemes
Art. 147—Amendments
PART VMISCELLANEOUS AND GENERAL
Transfer values
148Extension of scope of right to cash equivalent
149Right to guaranteed cash equivalent
150Right to guaranteed cash equivalent: supplementary
Penalties
151Breach of regulations under the Pension Schemes Act
Pensions Ombudsman
152Employment of staff by the Pensions Ombudsman
153Jurisdiction of Pensions Ombudsman
154Allowances
155Disclosing information
156Interest on late payment of benefit
Modification and winding up of schemes
157Repeal of sections 132 to 139 of Pension Schemes Act
Personal pensions
158Annual increase in rate of personal pension
159Article 158: supplementary
160Power to reject notice choosing appropriate personal pension scheme
Levy
161Levy
Pensions on divorce, etc.
162Pensions on divorce, etc.
Official and public service pensions
163Equal treatment in relation to official pensions
164Information about public service schemes
Art. 165—Amendments
Subordinate legislation, etc.
166Orders and regulations (general provisions)
167Assembly, etc. control of orders and regulations
Art. 168—Repeals
SCHEDULES
SCHEDULE 2EQUALISATION OF AND INCREASE IN PENSIONABLE AGE FOR MEN AND WOMEN
PART 1PENSIONABLE AGES FOR MEN AND WOMEN
Rules for determining pensionable age
1The following rules apply for the purposes of the enactments...
PART IIENTITLEMENT TO CERTAIN PENSION AND OTHER BENEFITS
Pension increases for dependent spouses
2(1) For sections 83 and 84 of the Contributions and...
Category B retirement pensions
3(1) For sections 49 and 50 of the Contributions and...
Home responsibilities protection
4(1) In paragraph 5 of Schedule 3 to the Contributions...
Additional pension
5In section 46(2) of the Contributions and Benefits Act (benefits...
Increments
6(1) In section 54(1) of the Contributions and Benefits Act...
Graduated retirement benefit
7In section 62(1) of the Contributions and Benefits Act (graduated...
Christmas bonus for pensioners
8In section 145(4) of that Act (Christmas bonus: supplementary), for...
Part III—Amendments

1995 No. 3213 (N.I. 22)

The Pensions (Northern Ireland) Order 1995 F1C6

Annotations:
Amendments (Textual)
F1

functions transf. by SR 1999/481

F2

functions transf. by 2005 NI 1

Modifications etc. (not altering text)
C6

Order applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 3 paras. 2, 3 (as amended by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), regs. 1(2), 21(2)(e)(4))

C2

Order: power to modify conferred (15.12.2008) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), ss. 115(2)(b), 118(1)(2)(g)

C5

Order: applied (with modifications) (8.2.2011 with application as mentioned in reg. 27(a) of the amending regulations) by Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), reg. 27, Sch. 6 Pt. 1