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”.
2
In section 24(2)(b) of that Act (ways of giving effect to protected rights)—
a
in sub-paragraph (i), for “or to a personal pension scheme” there shall be substituted “, to a personal pension scheme or to an overseas arrangement”; and
b
in sub-paragraph (ii), for “or to an occupational pension scheme” there shall be substituted “, to an occupational pension scheme or to an overseas arrangement”.
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;