Regulation 65 Death benefitsI1
Northern Ireland
If a member elects for any of his AVCs to be used to provide death benefits, the Committee must make arrangements for those benefits to be provided under a pension policy with an AVC insurer.
The policy must provide for the Committee to pay the AVC insurer the same amounts as the AVCs to be so used within one month after the member’s usual pay day.
The policy must reflect the restrictions on AVCs F2, the provisions which apply under these Regulations and must meet the conditions imposed under section 167 of the Finance Act 2004.
In entering into the pension policy the Committee must give effect to the member’s wishes about the benefits it provides, so far as is practicable.
Annotations
Textual amendments
- F1
Regulations revoked in part (1.4.2009) by Local Government Pension Scheme (Amendment and Transitional Provisions) Regulations (Northern Ireland) 2009 (S.R. 2009/34), reg. 1(1), Sch. 1 (with reg. 3)
- F2
Words in reg. 65(3) substituted (6.4.2006) by Local Government Pension Scheme (Amendment No. 3) Regulations (Northern Ireland) 2007 (S.R. 2007/448), regs. 1(2)(a), 14