# The Occupational Pension Schemes (Transfer Values) (Amendment) Regulations (Northern Ireland) 2008, Paragraph 2: Amendment of the Personal and Occupational Pension Schemes (Protected Rights) Regulations


(1) The Personal and Occupational Pension Schemes (Protected Rights) Regulations (Northern Ireland) 1997 shall be amended in accordance with sub-paragraphs (2) and (3).
(2) In regulation 1(2) (interpretation) omit the definition of “the Board for Actuarial Standards”.
(3) For regulation 2 (manner of calculation and verification of protected rights) substitute—
“Manner of calculation and verification of protected rights
2. (1) For the purposes of section 23(3) (identification and valuation of protected rights), the trustees must calculate and verify the value of a member’s protected rights in accordance with regulation 7C of the Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1996.
(2) In calculating the rights under paragraph (1), the trustees must treat the references to “initial cash equivalent” in that regulation as if they were references to “protected rights”.
(3) The trustees must adopt methods and assumptions which are consistent with sections 5(3) and (5), 6 and 22 to 28.”.

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Source: https://www.legislation.gov.uk/nisr/2008/370/schedule/2/paragraph/2 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-transfer-values-amendment-regulations-northern-ireland-2008/schedule-2/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.