SCHEDULES
SCHEDULE 5PENSIONS: MISCELLANEOUS AMENDMENTS AND ALTERNATIVE TO ANTI-FRANKING RULES
PART IMISCELLANEOUS AMENDMENTS
Transfer of rights to overseas personal pension schemes
2
1
In section 16(1) of the Pension Schemes Act (transfer of accrued rights)—
a
in paragraph (a), for or to a personal pension scheme there shall be substituted “, to a personal pension scheme or to an overseas arrangement”
; and
b
in paragraph (b), for or a personal pension scheme there shall be substituted “, a personal pension scheme or an overseas arrangement”
.
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3
In section 176(1) of that Act (general interpretation), after the definition of occupational pension scheme, there shall be inserted—
overseas arrangement means a scheme or arrangement which—
a
has effect, or is capable of having effect, so as to provide benefits on termination of employment or on death or retirement to or in respect of earners;
b
is administered wholly or primarily outside Northern Ireland;
c
is not an appropriate scheme; and
d
is not an occupational pension scheme;