- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
1.—(1) These Regulations may be cited as the Occupational Pension Schemes (Contracting-out) (Amendment) Regulations (Northern Ireland) 2011 and shall come into operation on 1st October 2011.
(2) The Interpretation Act (Northern Ireland) 1954(1) shall apply to these Regulations as it applies to an Act of the Assembly.
2.—(1) The Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996(2) are amended in accordance with paragraphs (2) and (3).
(2) In regulation 23 (requirements for meeting the statutory standard)—
(a)for paragraph (a)(3) substitute—
“(a)must comply with any standards adopted or prepared, and from time to time revised, by the Board for Actuarial Standards(4) which are relevant to the matters specified in section 8A(4) of the Act;”;
(b)in paragraph (f)(5) after “payment of a lump sum” insert “but may not have regard to any payment of a lump sum made as a result of the death of an earner”;
(c)at the end of paragraph (f) omit “and”;
(d)after paragraph (g) add—
“(h)must not have regard to any discretionary benefits, and
(i)must comply with the further requirements set out in Schedule 3.”.
(3) After Schedule 2 (revocations) add Schedule 3 as set out in the Schedule to these Regulations.
3. The following provisions are revoked—
(a)paragraph 3(b) of the Schedule to the Occupational and Personal Pension Schemes (Prescribed Bodies) Regulations (Northern Ireland) 2007(6);
(b)paragraph 2 of the Schedule to the Pensions (2008 Act) (Actuarial Guidance) (Consequential Provisions) Order (Northern Ireland) 2008(7).
Sealed with the Official Seal of the Department for Social Development on 9th September 2011
(L.S.)
Anne McCleary
A senior officer of the Department for Social Development
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: