Regulation 2 Amendment of the Northern Ireland Contracting-out Regulations

(1)

The Northern Ireland Contracting-out Regulations are amended in accordance with this regulation.

(2)

In regulation 51^f1 (contributions equivalent premiums)—

(a)

in paragraph (1A) for “paragraph (1B) or (1C)”, substitute “paragraph (1B), (1C) or (1D)”; and

(b)

after paragraph (1C), add—

“(1D)

This paragraph applies where, on the termination of his pensionable service, the earner elects to acquire a right to a cash transfer sum in accordance with section 97AB(1)(a) of the Act^f2 (right to cash transfer sum and contribution refund).”.

Annotations

Footnotes

f1: Regulation 51(1) to (1C) was substituted by regulation 7 of S.I. 2002/681.
f2: Section 97AB was inserted by Article 241 of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255(N.I. 1)).