Regulation 87 Safeguarded rightsF1I1C1
Northern Ireland
A pension credit member’s safeguarded rights for the purposes of the Scheme and of the 1993 Act and regulations made under that Act are such of his rights falling with section 64A(1) of that Actf1 as represent the safeguarded percentage of the rights acquired by him in the Scheme by virtue of the pension credit.
The “safeguarded percentage” is the percentage of the shareable rights by reference to which the amount of the pension credit is determined which are contracted-out rights.
“Contracted-out rights” has the meaning given in section 64A(5) of the 1993 Act.
Annotations
Textual amendments
- F1
Regulations revoked (except reg. 4 for specified purposes, reg. 6 for specified purposes and reg. 11) (1.4.2015) by The Local Government Pension Scheme (Amendment and Transitional Provisions) Regulations (Northern Ireland) 2014 (S.R. 2014/189), regs. 1(1), 2(1), Sch. 2 (with regs. 3, 13, 14(1)(d), Sch. 5)
Modifications
- C1
Pt. 10 applied (1.4.2009) by Local Government Pension Scheme (Amendment and Transitional Provisions) Regulations (Northern Ireland) 2009 (S.R. 2009/34), regs. 1(1), 13
Commencement
Footnotes
- f1
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1993 c. 49; section 64A was inserted by Article 34 of the Welfare Reform and Pensions (Northern Ireland) Order 1999.