The Pension Schemes (1993 Act) (Commencement No. 1) Order (Northern Ireland) 1994

Explanatory Note

(This note is not part of the Order.)

This order brings into operation on 7th February 1994, subject to minor exceptions, the Pension Schemes (Northern Ireland) Act 1993 (“the Act”). The exceptions are Part II of Schedule 4 (repeal of equal access requirements) and Schedule 6 (re-enactment or amendment of certain provisions not in force).

The Act, which consolidates in relation to Northern Ireland certain enactments relating to pension schemes, includes some provisions which are not yet in operation or not fully in operation. Schedule 8 to the Act identifies those provisions and makes transitory modifications. In particular paragraph 3(1) of that Schedule provides that sections 98 to 103 relating to annual increases of pensions in payment (limited price indexation) shall have effect only for the purposes of section 104. Paragraphs 2 and 4 to 8, which deal with the rule against perpetuities, guaranteed minimum pensions for women paying reduced rate contributions, judicial pensions and friendly societies, omit, or in the case of paragraph 7, substitute, certain words in the Act until the day appointed for the coming into operation of those provisions.