Article 23B Pension compensation sharing ordersF1

(1)

For the purposes of this Order, a pension compensation sharing order is an order which—

(a)

provides that one party's shareable rights to PPF compensation that derive from rights under a specified pension scheme are to be subject to pension compensation sharing for the benefit of the other party, and

(b)

specifies the percentage value to be transferred.

(2)

In paragraph (1)—

(a)

the reference to shareable rights to PPF compensation is to rights in relation to which pension compensation sharing is available under Chapter 1 of Part 3 of the Pensions (No. 2) Act (Northern Ireland) 2008 or under Chapter 1 of Part 3 of the Pensions Act 2008;

(b)

“party” means a party to a marriage;

(c)

“specified” means specified in the order.

Annotations

Textual amendments

F1: Arts. 23B, 23C inserted (6.4.2011) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), s. 118(1), Sch. 5 para. 2 (with s. 73); S.R. 2011/108, art. 2(2), Sch.