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STATUTORY RULES OF NORTHERN IRELAND
2005 No. 85
PENSIONS
The Contracting-out, Protected Rights and Safeguarded Rights (Transfer Payment) (Amendment) Regulations (Northern Ireland) 2005
| |
Made |
10th March 2005 | |
| |
Coming into operation |
6th April 2005 | |
The Department for Social Development, in exercise of the powers conferred by sections 8C(1)(a), 16(1) and (2), 24(2)(b), 64D and 177(2) to (4) of the Pension Schemes (Northern Ireland) Act 1993[1], and now vested in it[2], and of all other powers enabling it in that behalf, hereby makes the following Regulations:
Citation and commencement
1.
These Regulations may be cited as the Contracting-out, Protected Rights and Safeguarded Rights (Transfer Payment) (Amendment) Regulations (Northern Ireland) 2005 and shall come into operation on 6th April 2005.
Amendment of the Protected Rights (Transfer Payment) Regulations
2.
- (1) The Protected Rights (Transfer Payment) Regulations (Northern Ireland) 1996[3] shall be amended in accordance with paragraphs (2) and (3).
(2) In regulation 1(2) (interpretation) after the definition of "money purchase contracted-out scheme" there shall be inserted -
"
"overseas arrangement" means a scheme or arrangement, other than an occupational pension scheme, 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 not an appropriate personal pension scheme, and
(c) is administered wholly or primarily outside the United Kingdom;".
(3) In regulation 5(b)[4] (transfer payments to overseas schemes) for the words from "the member" to the end there shall be substituted ", where the receiving scheme is an occupational pension scheme, the member is in employment to which the receiving scheme applies".
Amendment of the Contracting-out (Transfer and Transfer Payment) Regulations
3.
- (1) The Contracting-out (Transfer and Transfer Payment) Regulations (Northern Ireland) 1996[5] shall be amended in accordance with paragraphs (2) and (3).
(2) In regulation 6[6] (transfer payments in respect of guaranteed minimum pensions to overseas schemes) -
(3) In regulation 11(b) (transfer payments to overseas schemes or arrangements in respect of section 5(2B) rights) -
(a) the words from "the earner" to "and" shall be omitted, and
(b) for "that he" there shall be substituted "the earner".
Amendment of the Pension Credit Benefit Regulations
4.
- (1) The Pension Sharing (Pension Credit Benefit) Regulations (Northern Ireland) 2000[7] shall be amended in accordance with paragraph (2).
(2) In regulation 19(b) (transfer payments to overseas schemes or overseas arrangements) -
(a) the words from "the person" to "and" shall be omitted, and
(b) for "that he" there shall be substituted "the person with pension credit rights".
Sealed with the Official Seal of the Department for Social Development on
10th March 2005.
L.S.
John O'Neill
A senior officer of the Department for Social Development
EXPLANATORY NOTE
(This note is not part of the Regulations.)
These Regulations amend the Protected Rights (Transfer Payment) Regulations (Northern Ireland) 1996 ("the Protected Rights Regulations"), the Contracting-out (Transfer and Transfer Payment) Regulations (Northern Ireland) 1996 ("the Contracting-out Transfer Regulations") and the Pension Sharing (Pension Credit Benefit) Regulations (Northern Ireland) 2000 ("the Pension Credit Benefit Regulations").
Regulation 1 provides for citation and commencement.
Regulation 2 amends the Protected Rights Regulations to insert a definition of "overseas arrangement" and remove the permanent emigration requirement in relation to transfer payments to overseas schemes or arrangements in respect of protected rights.
Regulation 3 amends the Contracting-out Transfer Regulations so that regulation 6 of those Regulations applies in respect of transfer payments made to an overseas arrangement and to remove the permanent emigration requirement in relation to transfer payments to overseas schemes or arrangements in respect of guaranteed minimum pensions and rights accrued after 6th April 1997 under a scheme contracted out by virtue of section 5(2B) of the Pension Schemes (Northern Ireland) Act 1993.
Regulation 4 amends the Pension Credit Benefit Regulations to remove the permanent emigration requirement in relation to transfer payments to overseas schemes or arrangements in respect of safeguarded rights.
Notes:
[1]
1993 c. 49; section 8C was inserted by Article 133(5) of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) and modified by regulation 13A of S.R. 1996 No. 618 which was inserted by paragraph 10(6) of the Schedule to S.R. 1997 No. 160; section 16(1) was amended by paragraph 2(1) of Schedule 5 to the Child Support, Pensions and Social Security Act (Northern Ireland) 2000 (c. 4 (N.I.)); section 24(2)(b) was amended by paragraph 2(2) of Schedule 5 to that Act and section 64D was inserted by Article 33 of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11))back
[2]
See Article 8(b) of S.R. 1999 No. 481back
[3]
S.R. 1996 No. 509, relevant amending regulations are S.R. 1997 No. 160 and S.R. 2002 No. 109back
[4]
Regulation 5 was amended by regulation 3 of S.R. 2002 No. 109back
[5]
S.R. 1996 No. 618; relevant amending regulations are S.R. 1997 No. 160back
[6]
Regulation 6 was amended by paragraph 10(3) of the Schedule to S.R. 1997 No. 160back
[7]
S.R. 2000 No. 146, to which there are amendments not relevant to these regulationsback
ISBN
0 337 95870 X
| © Crown copyright 2005 |
Prepared
22 March 2005
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