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The Contracting-out, Protected Rights and Safeguarded Rights (Transfer Payment) (Amendment) Regulations (Northern Ireland) 2005

S.R. 2005/85 · Made 10 March 2005 · Extends to Northern Ireland

Up to date with all changes known to legislation.gov.uk, revised to 6 April 2009.

PENSIONS

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 1993f1, and now vested in itf2, and of all other powers enabling it in that behalf, hereby makes the following Regulations:

Annotations to the whole text

Footnotes

f1

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))

f2

See Article 8(b) of S.R. 1999 No. 481

Contents

  1. 1Citation and commencement
  2. 2Amendment of the Protected Rights (Transfer Payment) Regulations
  3. 3Amendment of the Contracting-out (Transfer and Transfer Payment) Regulations
  4. 4Amendment of the Pension Credit Benefit Regulations Repealed
  5. Signature
  6. Explanatory note

1Citation and commencementI1

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.

2Amendment of the Protected Rights (Transfer Payment) RegulationsI1

(1)

The Protected Rights (Transfer Payment) Regulations (Northern Ireland) 1996f1 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 –

    1. (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;

    2. (b)

      is not an appropriate personal pension scheme, and

    3. (c)

      is administered wholly or primarily outside the United Kingdom;”.

(3)

In regulation 5(b)f2 (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”.

3Amendment of the Contracting-out (Transfer and Transfer Payment) RegulationsI1

(1)

The Contracting-out (Transfer and Transfer Payment) Regulations (Northern Ireland) 1996f1 shall be amended in accordance with paragraphs (2) and (3).

(2)

In regulation 6f2 (transfer payments in respect of guaranteed minimum pensions to overseas schemes) –

(a)

after “an overseas scheme” there shall be inserted “or an overseas arrangement”;

(b)

in paragraph (b), for the words from “the earner” to the end there shall be substituted “, where the receiving scheme is an occupational pension scheme, the earner is in employment to which the receiving scheme applies”, and

(c)

in paragraph (d) –

(i)

after “the scheme” there shall be inserted “or arrangement”, and

(ii)

after “receiving scheme” there shall be inserted “or arrangement”;

(d)

in paragraph (e) after “receiving scheme” there shall be inserted “or arrangement”.

(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”.

4Amendment of the Pension Credit Benefit RegulationsF1

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Signature

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.