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STATUTORY RULES OF NORTHERN IRELAND


2006 No. 223

PENSIONS

The Occupational Pension Schemes (Contracting-out) (Amendment) Regulations (Northern Ireland) 2006

  Made 17th May 2006 
  Coming into operation 14th June 2006 

The Department for Social Development makes the following Regulations in exercise of the powers conferred by sections 17(1) and 177(2) to (4) of the Pension Schemes (Northern Ireland) Act 1993[1] and now vested in it[2].

Citation and commencement
     1. These Regulations may be cited as the Occupational Pension Schemes (Contracting-out) (Amendment) Regulations (Northern Ireland) 2006 and shall come into operation on 14th June 2006.

Amendment of the Occupational Pension Schemes (Contracting-out) Regulations 1996
    
2. In regulation 60 of the Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996[3] (payment of a guaranteed minimum pension as a lump sum)—



Sealed with the Official Seal of the Department for Social Development on


17th May 2006.

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 Occupational Pension Schemes (Contracting-out) Regulations (Northern Ireland) 1996 ("the principal Regulations").

Regulation 1 provides for citation and commencement.

Regulation 2 amends regulation 60 of the principal Regulations to provide for the payment of a lump sum instead of a guaranteed minimum pension where the payment qualifies as a serious ill-health lump sum payment under the Finance Act 2004 (c. 12).


Notes:

[1] 1993 c. 49; section 17(1) was substituted by Article 261(1) of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1))back

[2] See Article 8(b) of S.R. 1999 No. 481back

[3] S.R. 1996 No.493; regulation 60 was substituted by Article 28(10) of S.I. 2006/744back

[4] The definition of "2004 Act" was inserted by Article 28(2)(c) of S.I. 2006/744back



ISBN 0 337 96513 7


 © Crown copyright 2006

Prepared 23 May 2006


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