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The Pensions (Northern Ireland) Order 2005

Status:

This is the original version (as it was originally made).

  1. Introductory Text

  2. PART I INTRODUCTORY

    1. 1.Title and commencement

    2. Interpretation

      1. 2.General interpretation

  3. PART II THE PENSIONS REGULATOR

    1. General provisions about functions

      1. 3.Regulator’s functions

      2. 4.Regulator’s objectives

      3. 5.Supplementary powers

      4. 6.Transfer of OPRA’s functions to the Regulator

    2. The Determinations Panel

      1. 7.Functions exercisable by the Determinations Panel

    3. Provision of information, education and assistance

      1. 8.Provision of information, education and assistance

    4. New powers in respect of occupational and personal pension schemes

      1. 9.Improvement notices

      2. 10.Third party notices

      3. 11.Injunctions

      4. 12.Restitution

      5. 13.Power of the Regulator to recover unpaid contributions

      6. 14.Pension liberation: interpretation

      7. 15.Pension liberation: Court’s power to order restitution

      8. 16.Pension liberation: restraining orders

      9. 17.Pension liberation: repatriation orders

    5. Powers in relation to winding up of occupational pension schemes

      1. 18.Powers to wind up occupational pension schemes

      2. 19.Freezing orders

      3. 20.Consequences of freezing order

      4. 21.Period of effect etc. of freezing order

      5. 22.Validation of action in contravention of freezing order

      6. 23.Effect of determination to wind up scheme on freezing order

      7. 24.Effect of winding up order on freezing order

      8. 25.Effect of assessment period under Part III on freezing order

      9. 26.Power to give a direction where freezing order ceases to have effect

      10. 27.Notification of trustees, managers, employers and members

      11. 28.Articles 19 to 27: supplementary

    6. Trustees of occupational pension schemes

      1. 29.Prohibition orders

      2. 30.Suspension orders

      3. 31.Appointment of trustees by the Regulator

      4. 32.Independent trustees

      5. 33.Disqualification

    7. Contribution notices where avoidance of employer debt

      1. 34.Contribution notices where avoidance of employer debt

      2. 35.The sum specified in an Article 34 contribution notice

      3. 36.Content and effect of an Article 34 contribution notice

      4. 37.Article 34 contribution notice: relationship with employer debt

      5. 38.Article 34 contribution notice: clearance statements

    8. Financial support directions

      1. 39.Financial support directions

      2. 40.Meaning of “service company” and “insufficiently resourced”

      3. 41.Meaning of “financial support”

      4. 42.Financial support directions: clearance statements

      5. 43.Contribution notices where non-compliance with financial support direction

      6. 44.The sum specified in an Article 43 contribution notice

      7. 45.Content and effect of an Article 43 contribution notice

      8. 46.Article 43 contribution notice: relationship with employer debt

      9. 47.Articles 39 to 46: interpretation

    9. Transactions at an undervalue

      1. 48.Restoration orders where transactions at an undervalue

      2. 49.Restoration orders: supplementary

      3. 50.Content and effect of a restoration order

      4. 51.Contribution notice where failure to comply with a restoration order

      5. 52.Content and effect of an Article 51 contribution notice

    10. Articles 34 to 52: partnerships and limited liability partnerships

      1. 53.Articles 34 to 52: partnerships and limited liability partnerships

    11. Applications under the Insolvency Order

      1. 54.Regulator’s right to apply under Article 367 of the Insolvency Order

    12. Register of schemes

      1. 55.Registrable information

      2. 56.The register: inspection, provision of information and reports etc.

      3. 57.The register: duties of trustees or managers

      4. 58.Duty of the Regulator to issue scheme return notices

      5. 59.Duty of trustees or managers to provide scheme return

      6. 60.Scheme returns: supplementary

    13. Register of prohibited trustees

      1. 61.Register of prohibited trustees

      2. 62.Accessibility of register of prohibited trustees

    14. Collecting information relevant to the Board

      1. 63.Information relevant to the Board

      2. 64.Duty to notify the Regulator of certain events

    15. Reporting breaches of the law

      1. 65.Duty to report breaches of the law

    16. Reports by skilled persons

      1. 66.Reports by skilled persons

    17. Gathering information

      1. 67.Provision of information

      2. 68.Inspection of premises

      3. 69.Inspection of premises in respect of employers' obligations

      4. 70.Inspection of premises: powers of inspectors

      5. 71.Inspection of premises: supplementary

      6. 72.Penalties relating to Articles 67 to 70

      7. 73.Warrants

      8. 74.Articles 67 to 73: interpretation

    18. Provision of false or misleading information

      1. 75.Offences of providing false or misleading information

    19. Use of information

      1. 76.Use of information

    20. Disclosure of information

      1. 77.Restricted information

      2. 78.Information supplied to the Regulator by corresponding overseas authorities

      3. 79.Disclosure for facilitating exercise of functions by the Regulator

      4. 80.Disclosure for facilitating exercise of functions by the Board

      5. 81.Disclosure for facilitating exercise of functions by other supervisory authorities

      6. 82.Other permitted disclosures

      7. 83.Tax information

    21. Reports

      1. 84.Publishing reports etc.

    22. Codes of practice

      1. 85.Codes of practice

      2. 86.Procedure for issue and publication of codes of practice

      3. 87.Revocation of codes of practice

    23. Exercise of regulatory functions

      1. 88.The Regulator’s procedure in relation to its regulatory functions

      2. 89.Publication of procedure in relation to regulatory functions

      3. 90.Application of standard and special procedure

      4. 91.Standard procedure

      5. 92.Special procedure: applicable cases

      6. 93.Special procedure

      7. 94.Compulsory review

      8. 95.Duty to have regard to the interests of members etc.

      9. 96.Powers to vary or revoke orders, notices or directions etc.

    24. The Pensions Regulator Tribunal

      1. 97.References to the Tribunal

      2. 98.Appeal on a point of law

      3. 99.Redetermination etc. by the Tribunal

      4. 100.Disclosure of information

  4. PART III THE BOARD OF THE PENSION PROTECTION FUND

    1. CHAPTER 1 THE BOARD

      1. General provision about functions

        1. 101.Board’s functions and supplementary powers etc.

      2. Financial matters

        1. 102.Grants

        2. 103.Administration levy

    2. CHAPTER 2 INFORMATION RELATING TO EMPLOYER'S INSOLVENCY ETC.

      1. Insolvency events

        1. 104.Duty to notify insolvency events in respect of employers

        2. 105.Insolvency event, insolvency date and insolvency practitioner

      2. Status of scheme

        1. 106.Insolvency practitioner’s duty to issue notices confirming status of scheme

        2. 107.Approval of notices issued under Article 106

      3. Board’s duties

        1. 108.Board’s duty where there is a failure to comply with Article 106

        2. 109.Binding notices confirming status of scheme

    3. CHAPTER 3 PENSION PROTECTION

      1. Eligible schemes

        1. 110.Eligible schemes

      2. Circumstances in which Board assumes responsibility for eligible schemes

        1. 111.Duty to assume responsibility for schemes following insolvency event

        2. 112.Duty to assume responsibility for schemes following application or notification

        3. 113.Applications and notifications for the purposes of Article 112

        4. 114.Board’s duty where application or notification received under Article 113

        5. 115.Protected liabilities

      3. Restrictions on schemes during the assessment period

        1. 116.Assessment periods

        2. 117.Admission of new members, payment of contributions etc.

        3. 118.Directions

        4. 119.Restrictions on winding up, discharge of liabilities etc.

        5. 120.Power to validate contraventions of Article 119

        6. 121.Board to act as creditor of the employer

        7. 122.Payment of scheme benefits

        8. 123.Loans to pay scheme benefits

      4. Ill health pensions

        1. 124.Reviewable ill health pensions

        2. 125.Effect of a review

        3. 126.Articles 124 and 125: interpretation

      5. Valuation of assets and liabilities

        1. 127.Board’s obligation to obtain valuation of assets and protected liabilities

        2. 128.Approval of valuation

        3. 129.Binding valuations

      6. Refusal to assume responsibility

        1. 130.Schemes which become eligible schemes

        2. 131.New schemes created to replace existing schemes

        3. 132.Withdrawal following issue of Article 106(4) notice

      7. Cessation of involvement with a scheme

        1. 133.Circumstances in which Board ceases to be involved with an eligible scheme

        2. 134.Consequences of the Board ceasing to be involved with a scheme

      8. Reconsideration

        1. 135.Application for reconsideration

        2. 136.Duty to assume responsibility following reconsideration

      9. Closed schemes

        1. 137.Closed schemes

      10. Winding up

        1. 138.Requirement to wind up schemes with sufficient assets to meet protected liabilities

      11. Provisions applying to closed schemes

        1. 139.Treatment of closed schemes

        2. 140.Valuations of closed schemes

      12. Reconsideration of closed schemes

        1. 141.Applications and notifications where closed schemes have insufficient assets

        2. 142.Duty to assume responsibility for closed schemes

        3. 143.Closed schemes: further assessment periods

      13. Assumption of responsibility for a scheme

        1. 144.Transfer notice

        2. 145.Effect of Board assuming responsibility for a scheme

        3. 146.The pension compensation provisions

        4. 147.Adjustments to be made where the Board assumes responsibility for a scheme

        5. 148.Postponement of compensation entitlement for the assessment period

        6. 149.Guaranteed minimum pensions

        7. 150.Duty to pay scheme benefits unpaid at assessment date etc.

        8. 151.Modification of Chapter where liabilities discharged during assessment period

        9. 152.Administration of compensation

      14. Discharge of Board’s liabilities

        1. 153.Discharge of liabilities in respect of compensation

        2. 154.Discharge of liabilities in respect of money purchase benefits

      15. Equal treatment

        1. 155.Equal treatment

      16. Relationship with fraud compensation regime

        1. 156.Relationship with fraud compensation regime

      17. The levies

        1. 157.Initial levy

        2. 158.Pension protection levies

        3. 159.Supplementary provisions about pension protection levies

        4. 160.Amounts to be raised by the pension protection levies

        5. 161.The levy ceiling

        6. 162.Valuations to determine scheme underfunding

        7. 163.Pension protection levies during the transitional period

        8. 164.Calculation, collection and recovery of levies

    4. CHAPTER 4 FRAUD COMPENSATION

      1. Entitlement to fraud compensation

        1. 165.Cases where fraud compensation payments can be made

        2. 166.Board’s duties in respect of certain applications under Article 165

        3. 167.Recovery of value

        4. 168.Fraud compensation payments

        5. 169.Interim payments

        6. 170.Board’s powers to make fraud compensation transfer payments

      2. The levy

        1. 171.Fraud compensation levy

    5. CHAPTER 5 GATHERING INFORMATION

      1. 172.Information to be provided to the Board etc.

      2. 173.Notices requiring provision of information

      3. 174.Entry of premises

      4. 175.Penalties relating to Articles 173 and 174

      5. 176.Warrants

      6. Provision of false or misleading information

        1. 177.Offence of providing false or misleading information to the Board

      7. Use of information

        1. 178.Use of information

      8. Disclosure of information

        1. 179.Restricted information

        2. 180.Disclosure for facilitating exercise of functions by the Board

        3. 181.Disclosure for facilitating exercise of functions by the Regulator

        4. 182.Disclosure for facilitating exercise of functions by other supervisory authorities

        5. 183.Other permitted disclosures

        6. 184.Tax information

      9. Provision of information to members of schemes etc.

        1. 185.Provision of information to members of schemes etc.

      10. Interpretation

        1. 186.Articles 172 to 185: interpretation

      11. Reports

        1. 187.Publishing reports etc.

    6. CHAPTER 6 REVIEWS, APPEALS AND MALADMINISTRATION

      1. Review etc. by the Board

        1. 188.Meaning of “reviewable matters”

        2. 189.Review and reconsideration by the Board of reviewable matters

        3. 190.Investigation by the Board of complaints of maladministration

      2. The PPF Ombudsman

        1. 191.The PPF Ombudsman

      3. References to the PPF Ombudsman

        1. 192.Reference of reviewable matter to the PPF Ombudsman

        2. 193.Investigation by PPF Ombudsman of complaints of maladministration

        3. 194.Referral of questions of law

        4. 195.Publishing reports etc.

        5. 196.Determinations of the PPF Ombudsman

        6. 197.Obstruction etc. of the PPF Ombudsman

    7. CHAPTER 7 MISCELLANEOUS

      1. Backdating the winding up of eligible schemes

        1. 198.Backdating the winding up of eligible schemes

      2. Pension sharing

        1. 199.Pension sharing

  5. PART IV SCHEME FUNDING

    1. Introductory

      1. 200.Pension schemes to which this Part applies

    2. Scheme funding

      1. 201.The statutory funding objective

      2. 202.Statement of funding principles

      3. 203.Actuarial valuations and reports

      4. 204.Certification of technical provisions

      5. 205.Recovery plan

      6. 206.Schedule of contributions

      7. 207.Failure to make payments

      8. 208.Matters requiring agreement of the employer

      9. 209.Matters on which advice of actuary must be obtained

      10. 210.Powers of the Regulator

    3. Supplementary provisions

      1. 211.Power to modify provisions of this Part

      2. 212.Construction as one with the 1995 Order

  6. PART V FINANCIAL PLANNING FOR RETIREMENT

    1. Retirement planning

      1. 213.Supply of housing benefit information

      2. 214.Combined pension forecasts

    2. Employee information and advice

      1. 215.Information and advice to employees

  7. PART VI OCCUPATIONAL AND PERSONAL PENSION SCHEMES: MISCELLANEOUS PROVISIONS

    1. Categories of pension scheme

      1. 216.Categories of pension scheme

      2. 217.Meaning of employer in Part II of the 1995 Order

    2. Requirements for member-nominated trustees and directors

      1. 218.Requirement for member-nominated trustees

      2. 219.Requirement for member-nominated directors of corporate trustees

      3. 220.Member-nominated trustees and directors: supplementary

    3. Obligations of trustees of occupational pension schemes

      1. 221.Investment principles

      2. 222.Power to make regulations governing investment by trustees

      3. 223.Borrowing by trustees

      4. 224.Requirement for knowledge and understanding: individual trustees

      5. 225.Requirement for knowledge and understanding: corporate trustees

      6. 226.Requirement for knowledge and understanding: supplementary

    4. Payment of surplus to employer

      1. 227.Payment of surplus to employer

      2. 228.Payment of surplus to employer: transitional power to amend scheme

    5. Restrictions on payment into occupational pension schemes

      1. 229.UK-based scheme to be trust with effective rules

      2. 230.Non-European scheme to be trust with UK-resident trustee

      3. 231.Representative of non-European scheme to be treated as trustee

    6. Activities of occupational pension schemes

      1. 232.Activities of occupational pension schemes

    7. No indemnification for fines or civil penalties

      1. 233.No indemnification for fines or civil penalties

    8. Pension protection on transfer of employment

      1. 234.Conditions for pension protection

      2. 235.Form of protection

    9. Consultation by employers

      1. 236.Consultation by employers: occupational pension schemes

      2. 237.Consultation by employers: personal pension schemes

      3. 238.Further provisions about regulations relating to consultation

    10. Modification of pension rights

      1. 239.Modification of subsisting rights

    11. Short service benefit

      1. 240.Increase in age at which short service benefit must be payable

    12. Early leavers

      1. 241.Early leavers: cash transfer sums and contribution refunds

    13. Safeguarding pension rights

      1. 242.Paternity leave and adoption leave

      2. 243.Inalienability of occupational pension

    14. Voluntary contributions

      1. 244.Voluntary contributions

    15. Payments by employers

      1. 245.Payments made by employers to personal pension schemes

      2. 246.Payments made by employers and members to occupational pension schemes

    16. Winding up

      1. 247.Winding up

    17. Deficiency in assets of certain occupational pension schemes

      1. 248.Debt due from the employer when assets insufficient

      2. 249.Debt due from the employer in the case of multi-employer schemes

    18. Pension disputes

      1. 250.Resolution of disputes

    19. The Pensions Ombudsman

      1. 251.Deputy Pensions Ombudsman

      2. 252.Jurisdiction

      3. 253.Investigations

    20. Pension compensation

      1. 254.Amendments relating to the Pensions Compensation Board

    21. Annual increases in rate of pensions

      1. 255.Annual increase in rate of certain occupational pensions

      2. 256.Annual increase in rate of certain personal pensions

      3. 257.Power to increase pensions giving effect to pension credits etc.

    22. Revaluation

      1. 258.Exemption from statutory revaluation requirement

    23. Contracting out

      1. 259.Meaning of “working life” in Pension Schemes Act

      2. 260.Power to prescribe conditions by reference to Inland Revenue approval

      3. 261.Restrictions on commutation and age at which benefits may be received

    24. Stakeholder pensions

      1. 262.Meaning of “stakeholder pension scheme”

  8. PART VII CROSS-BORDER ACTIVITIES WITHIN EUROPEAN UNION

    1. UK occupational pension scheme receiving contributions from European employer

      1. 263.Occupational pension scheme receiving contributions from European employer

      2. 264.General authorisation to accept contributions from European employers

      3. 265.Approval in relation to particular European employer

      4. 266.Notification of legal requirements of host member State outside United Kingdom

      5. 267.Duty of trustees or managers to act consistently with law of host member State

      6. 268.Power of Regulator to require ring-fencing of assets

    2. European occupational pension scheme receiving contributions from UK employer

      1. 269.Functions of Regulator in relation to institutions administered in other member States

    3. Assistance for other European regulators

      1. 270.Stopping disposal of assets of institutions administered in other member States

    4. Interpretation

      1. 271.Interpretation of Part

  9. PART VIII STATE PENSIONS

    1. Entitlement to more than one pension

      1. 272.Persons entitled to more than one Category B retirement pension

    2. Deferral of state pension

      1. 273.Deferral of retirement pensions and shared additional pensions

    3. Miscellaneous

      1. 274.Disclosure of state pension information

  10. PART IX MISCELLANEOUS AND SUPPLEMENTARY

    1. Dissolution of existing bodies – information

      1. 275.Information obtained by the Regulator

      2. 276.Information obtained by the Board

    2. Electronic working

      1. 277.Notification and documents in electronic form

      2. 278.Timing and location of things done electronically

    3. General

      1. 279.Overriding requirements

      2. 280.Modification of this Order in relation to certain categories of schemes

      3. 281.Modification of pensions legislation that refers to employers

      4. 282.Admissibility of statements

      5. 283.Protected items

      6. 284.Liens

      7. 285.Crown application

    4. Regulations and orders

      1. 286.Breach of regulations

      2. 287.Orders and regulations (general provisions)

      3. 288.Assembly etc. control of orders and regulations

      4. 289.Consultations about regulations

    5. Miscellaneous and supplementary

      1. 290.Minor and consequential amendments

      2. 291.Repeals

      3. 292.Transitional adaptations etc.: section 322(1) of the Pensions Act 2004

      4. 293.Power to make further provision in connection with civil partnership

      5. 294.Pre-consolidation amendments

  11. Signature

  12. SCHEDULES

    1. SCHEDULE 1

      THE PENSIONS REGULATOR

      1. PART 1 DELEGATION

        1. 1.(1) Subject to sub-paragraph (2), the Regulator may authorise—

        2. 2.The Department may make regulations— (a) limiting the extent to...

      2. PART 2 FUNDING AND ACCOUNTS

        1. 3.(1) Section 170 of the Pension Schemes Act (levies towards...

    2. SCHEDULE 2

      THE RESERVED REGULATORY FUNCTIONS

      1. PART 1 FUNCTIONS UNDER THE PENSION SCHEMES ACT

        1. 1.The power by direction under section 95(4) to grant an...

        2. 2.The power by direction under section 97J(2) to extend the...

        3. 3.The power under regulations made by virtue of section 164(4)...

      2. PART 2 FUNCTIONS UNDER THE 1995 ORDER

        1. 4.The power to make an order under Article 3(1) prohibiting...

        2. 5.The power to make an order under Article 3(3) revoking...

        3. 6.The power to make an order under Article 4(1) suspending...

        4. 7.The power to make an order under Article 4(2) extending...

        5. 8.The power to make an order under Article 4(5) revoking...

        6. 9.The power to make an order appointing a trustee under...

        7. 10.The power under Article 9 to exercise by order the...

        8. 11.The power to require a person to pay a penalty...

        9. 12.The power to make an order under Article 11 directing...

        10. 13.The power to give directions to trustees under Article 15....

        11. 14.The power under Article 29(5) to give a notice waiving...

        12. 15.The power under Article 30(2) to exercise by order the...

        13. 16.The power to make an order under Article 67G(2) by...

        14. 17.The power to make an order under Article 67H(2) prohibiting,...

        15. 18.The power to make an order under Article 69 authorising...

        16. 19.The power to make an order under Article 71A modifying...

      3. PART 3 FUNCTIONS UNDER THE 1999 ORDER

        1. 20.The power by direction under Article 4(3)(b) to remove a...

      4. PART 4 FUNCTIONS UNDER THIS ORDER

        1. 21.The power to make or extend a restraining order under...

        2. 22.The power to make an order under Article 16(10) permitting...

        3. 23.The power to make a repatriation order under Article 17....

        4. 24.The power to make a freezing order under Article 19....

        5. 25.The power to make an order under Article 21(3) extending...

        6. 26.The power to make an order under Article 22 validating...

        7. 27.The power to make an order under Article 24 directing...

        8. 28.The power to make an order under Article 26 giving...

        9. 29.The power to make an order under Article 27(3) directing...

        10. 30.The power to issue a contribution notice under Article 34....

        11. 31.The power to issue a direction under Article 37(4) to...

        12. 32.The power to issue a revised contribution notice under Article...

        13. 33.The power to issue a financial support direction under Article...

        14. 34.The power to issue a contribution notice under Article 43....

        15. 35.The power to issue a direction under Article 46(4) to...

        16. 36.The power to issue a revised contribution notice under Article...

        17. 37.The power to make a restoration order under Article 48....

        18. 38.The power to issue a contribution notice under Article 51....

        19. 39.The power to issue a notice under Article 66 requiring...

        20. 40.The power to make a direction under Article 71(8) extending...

        21. 41.The power to make a direction under Article 73(10) extending...

        22. 42.The power to make an order under Article 210 modifying...

        23. 43.The power to issue a ring-fencing notice under Article 268....

        24. 44.The power to vary or revoke under Article 96—

    3. SCHEDULE 3

      RESTRICTED INFORMATION HELD BY THE REGULATOR: CERTAIN PERMITTED DISCLOSURES TO FACILITATE EXERCISE OF FUNCTIONS

    4. SCHEDULE 4

      THE BOARD OF THE PENSION PROTECTION FUND

      1. 1.(1) Subject to sub-paragraph (2), the Board may authorise—

      2. 2.(1) The Board may make arrangements for any of its...

      3. 3.(1) Where the Board makes arrangements under paragraph 2(1) for...

    5. SCHEDULE 5

      TRANSFER OF PROPERTY, RIGHTS AND LIABILITIES TO THE BOARD

      1. 1.This Schedule applies where the property, rights and liabilities of...

      2. 2.(1) Subject to sub-paragraph (2), the property, rights and liabilities...

      3. 3.(1) Without prejudice to the generality of Article 145 and...

      4. 4.The transfer is binding on all persons, even if, apart...

      5. 5.No person shall have any power, in consequence of the...

      6. 6.Any reference in any agreement, document or instrument of any...

      7. 7.(1) The Board must take all such steps as may...

    6. SCHEDULE 6

      PENSION COMPENSATION PROVISIONS

      1. Introductory

        1. 1.This Schedule applies for the purposes of determining the compensation...

        2. 2.In this Schedule references to “the assessment date” are to...

      2. Pensions in payment at assessment date

        1. 3.(1) Compensation is payable in accordance with this paragraph where,...

        2. 4.(1) This paragraph applies where— (a) the pensioner dies on...

      3. Pension benefits postponed at assessment date

        1. 5.(1) Compensation is payable in accordance with this paragraph where...

        2. 6.(1) This paragraph applies where the postponed pensioner—

        3. 7.(1) Compensation is payable in accordance with this paragraph where...

      4. Active members over normal pension age at assessment date

        1. 8.(1) Compensation is payable in accordance with this paragraph where...

        2. 9.(1) This paragraph applies where the active member dies on...

        3. 10.(1) Compensation is payable in accordance with this paragraph where...

      5. Active members who have not attained normal pension age at assessment date

        1. 11.(1) Compensation is payable in accordance with this paragraph where...

        2. 12.(1) This paragraph applies for the purposes of paragraph 11(4)(b)....

        3. 13.(1) This paragraph applies where the active member dies on...

        4. 14.(1) Compensation is payable in accordance with this paragraph where...

      6. Deferred members who have not attained normal pension age at assessment date

        1. 15.(1) Compensation is payable in accordance with this paragraph where,...

        2. 16.(1) This paragraph applies for the purposes of paragraph 15(4)(b)....

        3. 17.(1) This paragraph applies for the purposes of paragraph 15(4)(c)....

        4. 18.(1) This paragraph applies where— (a) the deferred member dies...

        5. 19.(1) Compensation is payable in accordance with this paragraph where,...

      7. Compensation in respect of scheme right to transfer payment or contribution refund

        1. 20.(1) Compensation is payable in accordance with this paragraph where—...

      8. Pension credit members who have not attained normal benefit age at assessment date

        1. 21.(1) Paragraphs 15, 18 and 19 apply in relation to...

      9. Survivors who do not meet conditions for scheme benefits at assessment date

        1. 22.(1) Compensation is payable in accordance with this paragraph where—...

      10. Compensation in form of dependants' benefits

        1. 23.(1) Regulations may provide for compensation to be payable, in...

      11. Commutation of periodic compensation

        1. 24.(1) In prescribed circumstances, a person entitled to periodic compensation...

      12. Early payment of compensation

        1. 25.(1) Regulations may prescribe circumstances in which, and conditions subject...

      13. Compensation cap

        1. 26.(1) Where— (a) a person becomes entitled to relevant compensation...

      14. Increasing the compensation cap in line with earnings

        1. 27.Where, pursuant to paragraph 27 of Schedule 7 to the...

      15. Annual increase in periodic compensation

        1. 28.(1) This paragraph provides for the increases mentioned in sub-paragraph...

      16. Board’s powers to alter rates of revaluation and indexation

        1. 29.(1) The Board may determine the percentage that is to...

      17. Department’s powers to vary percentage paid as compensation

        1. 30.(1) The Department may, on the recommendation of the Board,...

      18. Special provision in relation to certain pensions in payment before the assessment date

        1. 31.(1) The powers conferred by this paragraph are exercisable in...

      19. Short periods of service which terminate on commencement of assessment period

        1. 32.(1) This paragraph applies to a member of the scheme...

      20. Power to modify Schedule in its application to certain schemes

        1. 33.Where the scheme is a prescribed scheme or a scheme...

      21. Normal pension age

        1. 34.(1) In this Schedule “normal pension age”, in relation to...

      22. Scheme rules, admissible rules etc.

        1. 35.(1) In this Schedule, in relation to the scheme, each...

      23. Accrual rate, pensionable service and pensionable earnings

        1. 36.(1) In this Schedule, in relation to a member’s entitlement...

      24. Other definitions

        1. 37.(1) In this Schedule— “deferred member”, in relation to the...

    7. SCHEDULE 7

      RESTRICTED INFORMATION HELD BY THE BOARD: CERTAIN PERMITTED DISCLOSURES TO FACILITATE EXERCISE OF FUNCTIONS

    8. SCHEDULE 8

      REVIEWABLE MATTERS

      1. 1.The issue of a determination notice under Article 107 approving...

      2. 2.The failure to issue a determination notice under Article 107....

      3. 3.The issue of, or failure to issue, a notice under...

      4. 4.The issue of, or failure to issue—

      5. 5.Any direction given under paragraph (2) of Article 118 (directions...

      6. 6.The issue of a notice under Article 120(2) (power to...

      7. 7.The making of a loan under Article 123(2) (loans to...

      8. 8.The failure by the Board to obtain an actuarial valuation...

      9. 9.The approval of, or failure to approve, a valuation in...

      10. 10.The issue of, or failure to issue, a withdrawal notice...

      11. 11.The issue of, or failure to issue, a withdrawal notice...

      12. 12.The issue of, or failure to issue, a determination notice...

      13. 13.The issue of, or failure to issue, a determination notice...

      14. 14.Any direction given under Article 138(7) (directions about winding up...

      15. 15.The failure by the Board to give a transfer notice...

      16. 16.Any determination by the Board of a person’s entitlement to...

      17. 17.Any failure by the Board to make a payment required...

      18. 18.Any determination by the Board under Article 164(3)(a) (the eligible...

      19. 19.The amount of the initial levy or any pension protection...

      20. 20.The making of a fraud compensation payment under Article 165(1),...

      21. 21.The issue of, or failure to issue, a notice under...

      22. 22.Any settlement date determined by the Board under Article 167(2)...

      23. 23.Any determination by the Board under Article 167(4) (recovery of...

      24. 24.The making of a payment under Article 169(1) (interim payments),...

      25. 25.Any term or condition imposed by the Board—

      26. 26.Any determination by the Board under Article 169(3)(b) (interim payments)...

      27. 27.Any date determined by the Board under Article 170(4) (earliest...

      28. 28.Any determination by the Board under Article 170(6) (fraud compensation...

      29. 29.Any determination by the Board under Article 171(7)(a) (occupational pension...

      30. 30.The amount of any fraud compensation levy payable in respect...

    9. SCHEDULE 9

      DEFERRAL OF RETIREMENT PENSIONS AND SHARED ADDITIONAL PENSIONS

      1. PART 1 PRINCIPAL AMENDMENTS OF CONTRIBUTIONS AND BENEFITS ACT

        1. 1.Schedule 5 to the Contributions and Benefits Act (increase of...

        2. 2.For the heading, substitute “PENSION INCREASE OR LUMP SUM WHERE...

        3. 3.Before paragraph 1 insert— Choice between increase of pension and...

        4. 4.For paragraph 1 (increase of pension where pensioner’s entitlement is...

        5. 5.(1) In paragraph 2 (calculation of increment), in sub-paragraph (5)(b),...

        6. 6.After paragraph 2 insert— (1) This paragraph applies where— (a) a person’s entitlement to...

        7. 7.(1) After paragraph 3 insert— Lump sum where pensioner’s entitlement...

        8. 8.After paragraph 3B (inserted by paragraph 7) insert— Choice between...

        9. 9.(1) Paragraph 4 (increase of pension where pensioner’s deceased spouse...

        10. 10.(1) After paragraph 7 insert— Entitlement to lump sum where...

        11. 11.After paragraph 7B (inserted by paragraph 10) insert— Supplementary (1) Any lump sum calculated under paragraph 3B or 7B...

        12. 12.For the heading immediately preceding paragraph 8 substitute “Married couples”....

        13. 13.In paragraph 8 (married couples)— (a) in sub-paragraph (3) for...

        14. 14.After Schedule 5 to the Contributions and Benefits Act insert—...

      2. PART 2 CONSEQUENTIAL AMENDMENTS

        1. 15.The Contributions and Benefits Act

        2. 16.In section 62(1) (graduated retirement benefit)— (a) in paragraph (a),...

        3. 17.In section 121(1) (interpretation of Parts I to VI)—

        4. 18.The 1999 Order

        5. 19.In Article 47, omit paragraph (2) (which amends provisions relating...

        6. 20.In Article 49(2) (power to make regulations preserving rights in...

      3. PART 3 TRANSITIONAL PROVISIONS

        1. 21.Widowers' entitlement to increase of pension or widowed person’s lump sum

        2. 22.Transitional provision

    10. SCHEDULE 10

      MINOR AND CONSEQUENTIAL AMENDMENTS

      1. 1.The Matrimonial Causes (Northern Ireland) Order 1978 (NI 15)

      2. 2.The Companies Order

      3. 3.The Matrimonial and Family Proceedings (Northern Ireland) Order 1989 (NI 4)

      4. 4.The Social Security Administration (Northern Ireland) Act 1992 (c. 8)

      5. 5.The Pension Schemes Act

      6. 6.In section 49 (supervision: former contracted-out schemes), after subsection (1B)...

      7. 7.(1) Section 52 (provision supplementary to section 51) is amended...

      8. 8.In section 57 (deduction of contributions equivalent premium from refund...

      9. 9.(1) Section 90 (right to cash equivalent) is amended as...

      10. 10.In section 95 (trustees' duties after exercise of option)—

      11. 11.In section 97J (time for compliance with transfer notice)—

      12. 12.In section 107A (monitoring of employers' payments to personal pension...

      13. 13.In section 109 (disclosure of information about schemes to members...

      14. 14.After that section insert— Disclosure of information about transfers etc....

      15. 15.In section 119 (interpretation of Chapter 2 of Part VII)...

      16. 16.In section 120 (duty of Department for Employment and Learning...

      17. 17.In section 125(1) (overriding requirements)— (a) for “and IV” substitute...

      18. 18.In section 126(b), (extra-statutory requirements), for “or IV” substitute “,...

      19. 19.In section 142 (functions of the Pensions Ombudsman)—

      20. 20.In section 145 (procedure on investigation by Pensions Ombudsman), in...

      21. 21.(1) Section 154A (other disclosures by the Department) is amended...

      22. 22.In section 164(4) (penalties for contravention of regulations) after “the...

      23. 23.In section 170 (levies)— (a) for subsection (8) substitute—

      24. 24.In section 173 (power to make regulations as to the...

      25. 25.(1) Section 174 (linked qualifying service) is amended as follows....

      26. 26.In section 176(1) (general interpretation), in the definition of “transfer...

      27. 27.In section 178(3) (sub-delegation), after “93(1)” insert “, 97AF(1)”.

      28. 28.The 1995 Order

      29. 29.In Article 4 (suspension orders), in paragraphs (3) and (5)...

      30. 30.In Article 7 (appointment of trustees)— (a) in paragraph (1)...

      31. 31.In Article 9 (removal and appointment of trustees: property), after...

      32. 32.In Article 10 (civil penalties), in paragraph (5)(a) omit “as...

      33. 33.In Article 15(4) (failure to comply with Authority’s direction) for...

      34. 34.In Article 22 (circumstances in which independent trustee provisions apply),...

      35. 35.In Article 25 (appointment and powers of independent trustees: further...

      36. 36.In Article 26 (insolvency practitioner or official receiver to give...

      37. 37.Omit Articles 26A to 26C.

      38. 38.In Article 28 (consequences of prohibition on trustee being auditor...

      39. 39.In Article 29 (persons disqualified for being trustees), in paragraph...

      40. 40.In Article 30 (persons disqualified: consequences)— (a) in paragraph (2),...

      41. 41.Omit Article 30A (accessibility of register of disqualified trustees).

      42. 42.In Article 32 (decisions of trustees by a majority)—

      43. 43.In Article 34 (powers of investment and delegation) in paragraph...

      44. 44.(1) Article 38 (power to defer winding up) is amended...

      45. 45.In Article 40 (restriction on employer-related investments), in paragraph (4)...

      46. 46.In Article 41 (provision of documents for members)—

      47. 47.In Article 47 (professional advisers), in paragraphs (3), (8) and...

      48. 48.In Article 49 (other responsibilities of trustees, employers, etc.)—

      49. 49.In Article 49A (record of winding up decisions) omit paragraph...

      50. 50.In Article 68 (power of trustees to modify schemes by...

      51. 51.In Article 69 (grounds for applying for modifications)—

      52. 52.In Article 71A(4)(d) (power to make provision in relation to...

      53. 53.In Article 72A (reports to Authority about winding up) omit...

      54. 54.In Article 72C (duty to comply with directions for facilitating...

      55. 55.In Article 73 (preferential liabilities on winding up), in paragraph...

      56. 56.In Article 76 (excess assets on winding up)—

      57. 57.In Article 77 (excess assets remaining after winding up: power...

      58. 58.In Article 85 (schedules of payments to money purchase schemes)...

      59. 59.In Article 86 (provision supplementary to Article 85) omit paragraph...

      60. 60.In Article 87 (application of further provisions to money purchase...

      61. 61.In Article 115 (powers to modify Part II of the...

      62. 62.In Article 116 (calculations, etc. under regulations: sub-delegation), for “73(3)”...

      63. 63.(1) Article 121 (interpretation of Part II) is amended as...

      64. 64.The Deregulation and Contracting Out (Northern Ireland) Order 1996 (NI 11)

      65. 65.The 1999 Order

      66. 66.In Article 3 (stakeholder pension schemes), in paragraph (6), after...

      67. 67.In Article 4 (registration of stakeholder pension schemes)—

      68. 68.In Article 9(2)(a) (providing for stakeholder pension schemes to be...

      69. 69.In Article 35 (treatment in winding up)—

      70. 70.(1) Paragraph 1 of Schedule 1 (application of statutory provisions...

      71. 71.(1) Schedule 5 (pension credits: mode of discharge) is amended...

    11. SCHEDULE 11

      REPEALS

  13. Explanatory Note

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