The Occupational and Personal Pension Schemes (AuthorisedPayments) Regulations (NorthernIreland) 2009

Contents

1Citation, commencement and interpretation#

(1)These Regulations may be cited as the Occupational and Personal Pension Schemes (Authorised Payments) Regulations (Northern Ireland) 2009 and shall come into operation on 1st December 2009.

(2)The Interpretation Act (Northern Ireland) 1954 shall apply to these Regulations as it applies to an Act of the Assembly.

2Amendment of the Occupational Pension Schemes (Preservation of Benefit) Regulations#

For regulation 5 of the Occupational Pension Schemes (Preservation of Benefit) Regulations (Northern Ireland) 1991 (short service benefit in lump sum form) substitute—“5 For the purposes of section 67(6) of the Act (basic principle as to short service benefit), the circumstances in which the trustees or managers of a scheme may provide for payment of short service benefit in the form of a lump sum before normal pension age are that the payment of a lump sum—a to the member is permitted in accordance with paragraph (a), (b), (e), (f) or (g) of the lump sum rule in section 166(1) of the Finance Act 2004; orb is—i made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004);ii a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments); andiii made to or in respect of a member.”

3Amendment of the Occupational Pension Schemes (Discharge of Protected Rights on Winding Up) Regulations#

In regulation 5 of the Occupational Pension Schemes (Discharge of Protected Rights on Winding Up) Regulations (Northern Ireland) 1996 (conditions upon which appropriate policies of insurance may be commuted)—

(a)in paragraph (1) for “paragraph (2)” substitute “paragraph (2), (2A)”;

(b)after paragraph (2) insert—“2A This paragraph is satisfied if the lump sum payment is—a made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004);b a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments), andc made to or in respect of a member.”

4Amendment of the Occupational Pension Schemes (Contracting-out) Regulations#

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5Amendment of the Occupational Pension Schemes (Winding Up) Regulations#

In regulation 8(6)(b) of the Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 1996 (requirements to be satisfied by transferee schemes, annuities, etc.) for head (i) substitute—“i of a lump sum—aa that is a trivial commutation lump sum or a winding up lump sum for the purposes of Part 1 of Schedule 29 to the Finance Act 2004 (registered pension schemes: authorised lump sums – lump sum rule) is made to a member, orbb is made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004), is a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments) and is made to or in respect of a member, and”

6Amendment of the Personal and Occupational Pension Schemes (Protected Rights) Regulations#

In regulation 8 of the Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 1997 (giving effect to protected rights by the provision of a lump sum)—

(a)in paragraph (1) for “either paragraph (1A)” substitute “paragraph (1A), (1AA)”;

(b)after paragraph (1A) insert—“1AA This paragraph is satisfied if the lump sum payment is—a made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004);b a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments), andc made to or in respect of a member.”

7Amendment of the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations#

In regulation 2(1)(a) of the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations (Northern Ireland) 1997 (commutation of a pension under an occupational pension scheme)—

(a)at the end of head (i) omit “or”;

(b)after head (ii) add—“iii the earner or the earner’s widow, widower or surviving civil partner is a payment—aa by a registered pension scheme (within the meaning given in section 150(2) of the 2004 Act), andbb that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments), or”

8Amendment of the Pension Sharing (Implementation and Discharge of Liability) Regulations#

In regulation 15 of the Pension Sharing (Implementation and Discharge of Liability) Regulations (Northern Ireland) 2000 (disqualification as a destination for pension credit – annuity contracts and insurance policies)—

(a)in paragraph (4)—

(i)omit “either”;

(ii)at the end of sub-paragraph (a) omit “or”;

(iii)after sub-paragraph (a) insert—“aa the condition set out in paragraph (5A) is satisfied, or”

(b)after paragraph (5) insert—“5A The condition referred to in paragraph (4)(aa) is that the lump sum payment is—a made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004);b a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments), andc made to or in respect of a member.”

9Amendment of the Pension Sharing (Pension Credit Benefit) Regulations#

For regulation 3 of the Pension Sharing (Pension Credit Benefit) Regulations (Northern Ireland) 2000 (pension credit benefit in lump sum form) substitute—“3 For the purposes of section 97C(2) (basic principle as to pension credit benefit), the circumstances in which the trustees or managers of a scheme may provide for payment of pension credit benefit in the form of a lump sum before normal benefit age are—a those which permit payment of a lump sum in accordance with paragraph (a), (b), (e), (f) or (g) of the lump sum rule in section 166(1) of the Finance Act 2004, orb that the lump sum payment is—i made by a registered pension scheme (within the meaning given in section 150(2) of the Finance Act 2004);ii a payment that is described in Part 2 of the Registered Pension Schemes (Authorised Payments) Regulations 2009 (commutation payments), andiii made to or in respect of a member.”

10Revocations#

The following regulations are revoked—

(a)regulation 3(2) of the Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2007;

(b)regulation 2 of the Occupational Pension Schemes (Winding Up, Winding Up Notices and Reports, etc.) (Amendment) Regulations (Northern Ireland) 2007;

(c)regulation 14(3) of the Occupational and Personal Pension Schemes (Miscellaneous Amendments) Regulations (Northern Ireland) 2009.

Contains public sector information licensed under the Open Government Licence v3.0.