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The Pensions (2008 Act) (Actuarial Guidance) (Consequential Provisions) Order (Northern Ireland) 2008

S.R. 2008/365 · Made 3 September 2008 · Extends to Northern Ireland

Up to date with all changes known to legislation.gov.uk, revised to 1 October 2011.

Pensions

Made 3rd September 2008

Coming into operation 1st October 2008

The Department for Social Development makes the following Order in exercise of the powers conferred by section 19(1) of the Pensions Act (Northern Ireland) 2008f1.

Annotations to the whole text

Footnotes

f1

2008 c. 1 (N.I.)

Contents

  1. 1Citation and commencement
  2. 2Amendment of Regulations
  3. 3Revocations
  4. Signature
  5. Schedule: Amendment of Regulations
  6. 1Paragraph 1
  7. 2Paragraph 2 Repealed
  8. 3Paragraph 3
  9. 4Paragraph 4 Repealed
  10. 5Paragraph 5 Repealed
  11. Explanatory note

1Citation and commencementI1

This Order may be cited as the Pensions (2008 Act) (Actuarial Guidance) (Consequential Provisions) Order (Northern Ireland) 2008 and shall come into operation on 1st October 2008.

2Amendment of RegulationsI1

The Schedule shall have effect.

3RevocationsI1

The following provisions are revoked—

(a)

regulations 2(2)(d) in so far as it inserts the definition of “relevant guidance”, 3(2)(c) and 4(2)(d) of the Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations (Northern Ireland) 2002f1;

(b)

paragraphs 1(b), 8(b) and 13(b) of the Schedule to the Occupational and Personal Pension Schemes (Prescribed Bodies) Regulations (Northern Ireland) 2007f2.

Signature

Sealed with the Official Seal of the Department for Social Development on 3rd September 2008

(L.S.)

John O’Neill

A senior officer of the Department for Social Development

1I1

In—

(a)

regulation 1(2) of the Personal Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 1987f1 (interpretation);

(b)

regulation 1(2) of the Occupational Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 1997f2 (interpretation), and

(c)

regulation 1(3) of the Stakeholder Pension Schemes Regulations (Northern Ireland) 2000f3 (interpretation),

for the definition of “relevant guidance” substitute—

  • ““relevant guidance” means the document entitled “Technical Memorandum TM1: Statutory Money Purchase Illustrations” which is adopted or prepared, and from time to time revised, by the Board for Actuarial Standards;”.

2F1

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

3I1

In regulation 2(5) of the Occupational Pension Schemes (Deficiency on Winding Up, etc.) Regulations (Northern Ireland) 1996f1 (interpretation) for “and approved for the purposes of these Regulations by the Department, with such revisions as have been so approved at the applicable time” substitute “, with any such revisions at the applicable time”.

4F1

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

5F1

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

Explanatory note

(This note is not part of the Order)

This Order amends certain occupational, personal and stakeholder pension scheme regulations in consequence of section 15 of, and Schedule 5 to, the Pensions Act (Northern Ireland) 2008 which remove the requirement for the Department for Social Development to approve certain actuarial Guidance Notes and a Technical Memorandum.

The Order also makes consequential revocations.