SCHEDULE 6Continuity option 1: transfer out and winding up
Scheme to continue to be a CMPS during winding-up
9.
(1)
A “collective money purchase scheme” for the purposes of Part 2 of the 2021 Act (collective money purchase benefits: Northern Ireland)) includes a scheme or section of a scheme during the winding-up period where the scheme or section was a collective money purchase scheme immediately before the winding-up commencement time.
(2)
Sub-paragraph (1) applies irrespective of the fact that in accordance with the requirements of this Schedule the scheme or section has, during the winding-up period—
(a)
ceased to make payments of benefits including payments of pension under the scheme, and
(b)
commenced payments of periodic income under paragraph 7(1).