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SOCIAL SECURITY PENSIONS (NORTHERN IRELAND) ORDER 1975 - SECT 42

42.(1) For an occupational pension scheme to be contracted-out the resources
of the scheme must be derived in whole or in part from

(a)payments made or to be made by one or more employers of earners to whom the
scheme applies, being payments either

(i)under an actual or contingent legal obligation; or

(ii)in the exercise of a power conferred, or the discharge of a duty imposed,
on a Minister of the Crown, government department or any other person, being a
power or duty which extends to the disbursement or allocation of public money;
or

(b)such other payments by the earner or his employer, or both, as may be
prescribed for different categories of scheme.

(2) For an occupational pension scheme, other than a public service pension
scheme, to be contracted-out the Occupational Pensions Board must be satisfied
that the scheme complies with

(a)regulations prescribing the means by which guaranteed minimum pensions
under contracted-out schemes are to be secured (whether irrevocable trust,
policy of insurance, annuity contract or other means); and

(b)the conditions which are required by the regulations to be satisfied in
relation to any means adopted;

(3) For an occupational pension scheme to be contracted-out it must contain a
rule whereby any liabilities of the scheme in respect of

(a)guaranteed minimum pensions and accrued rights to guaranteed minimum
pensions;

(b)any such benefits as are excluded by Article 35(5) from earners' guaranteed
minimum pensions;

(c)pensions and other benefits (whether or not within sub-paragraph (a) or
(b)) in respect of which entitlement to payment has already arisen; and

(d)state scheme premiums,

This does not apply to public service pension schemes, nor to schemes falling
within any category or description prescribed as being exempt from the
requirements of this paragraph.

(4) For an occupational pension scheme to be contracted-out it must, if it
provides for the payment out of any sum representing the surrender value of a
policy of insurance taken out for the purposes of the scheme, so provide that
there shall be no payment out in relation to guaranteed minimum pensions
except in such circumstances as may be prescribed.

© 1975 Crown Copyright

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