SCHEDULES
SCHEDULE 4Rights to transfer benefits
PART 2Northern Ireland amendments
Pension Schemes (Northern Ireland) Act 1993 (c. 49)
I159
1
Section 95 (trustees' duties after exercise of option) is amended as follows.
2
For subsection (2) substitute—
2
Subject to the following provisions of this section, if the trustees or managers of a scheme receive an application under section 91 they must do what is needed to carry out what the member requires—
a
in the case of an application that relates to benefits other than money purchase benefits, within 6 months beginning with the guarantee date shown in the relevant statement of entitlement, and
b
in the case of an application that relates to money purchase benefits, within 6 months beginning with the date of the application.
3
In subsection (3)(a) omit “at any time before the expiry of the period of 12 months beginning with the termination date”.
4
Omit subsection (3A).
5
After subsection (4A) insert—
4B
Regulations may extend the period for compliance under subsection (2) or (3) in prescribed circumstances.