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Pension Schemes (Northern Ireland) Act 1993

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Pension Schemes (Northern Ireland) Act 1993, Section 69 is up to date with all changes known to be in force on or before 26 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. Help about Changes to Legislation

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Changes and effects yet to be applied to Section 69:

  • specified provision(s) amendment to savings in S.R. 2016/106 for effects of 2015 c. 5 (N.I.), Sch. 13 by S.R. 2016/162 art. 5
  • specified provision(s) savings for effects of 2015 c. 5 (N.I.), Sch. 13 by S.R. 2016/106 art. 2

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Whole provisions yet to be inserted into this Act (including any effects on those provisions):

69 Form of short service benefit and its alternatives.N.I.

(1)Subject to subsection (2) and section 77, a member’s short service benefit must be—

(a)payable directly out of the resources of the scheme; or

(b)assured to him by such means as may be prescribed.

(2)Subject to subsections (3) to (5), a scheme may, instead of providing short service benefit, provide—

(a)for the member’s accrued rights (including any transfer credits allowed under the scheme)—

(i)to be transferred to another occupational pension scheme with a view to acquiring transfer credits for the member under the other scheme, or

(ii)to be transferred to a personal pension scheme F1. . . with a view to acquiring rights for the member under the rules of the scheme F2. . .; or

(b)for such alternatives to short service benefit as may be prescribed.

(3)The option conferred by subsection (2)(a) is additional to any obligation imposed by [F3Chapter 1 of Part 4ZA] .

(4)The alternatives specified in subsection (2)(a) and (b) may only be by way of complete or partial substitute for short service benefit—

(a)if the member consents; or

(b)in such other cases as may be prescribed.

(5)An alternative prescribed under subsection (2)(b) may only include payment by way of return of contributions—

(a)if they relate to a period of service before 6th April 1975; or

(b)if there has been such a payment relating to a period of service before that date and the contributions relate to a period of service of less than 5 years after that date.

Textual Amendments

F1Words in s. 69(2)(a)(ii) ceased to have effect (1.12.1999 for certain purposes only) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 17, Sch. 2 para. 2(a) (with transitional provisions in art. 75(1)(2)) and repealed (25.4.2000) by S.I. 1999/3147 (N. I. 11) art. 17, Sch. 10 Pt. I; S.R. 2000/133, art. 2(3), Sch. Pt. II

F2Words in s. 69(2)(a)(ii) ceased to have effect (1.12.1999 for certain purposes only) by S.I. 1999/3147 (N.I. 11), arts. 1(5)(a), 17, Sch. 2 para. 2(a) (with transitional provisions in art. 75(1)) and repealed (25.4.2000) by S.I. 1999/3147 (N. I. 11) art. 17, Sch. 10 Pt. I; S.R. 2000/133, art. 2(3), Sch. Pt. II

F3Words in s. 69(3) substituted (6.4.2015) by Pension Schemes Act 2015 (c. 8), s. 89(3)(b), Sch. 4 para. 53 (with s. 87)

Modifications etc. (not altering text)

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