Explanatory Note
(This note is not part of the Regulations.)
These Regulations amend statutory rules, which make provision in relation to occupational and personal pension schemes which are or have been contracted out under Part III of the Pension Schemes (Northern Ireland) Act 1993, in consequence of the coming into operation of Part V of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (which provides for the sharing of pensions as part of the financial arrangements made following divorce or nullity of marriage).
Regulations 2, 3 and 4 amend, respectively, the Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996, the Occupational Pension Schemes (Mixed Benefit Contracted-out Schemes) Regulations (Northern Ireland) 1997 and the Personal Pension Schemes (Appropriate Schemes) Regulations (Northern Ireland) 1997 to ensure that those pension rights (“safeguarded rights”) which are conferred on any person under the pension sharing arrangements and are derived from the rights of a member which are protected under the contracting-out arrangements (“contracted-out rights”) receive similar protection to that accorded to contracted-out rights.