# The Occupational Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1996, Regulation 19: Hybrid schemes

Extent: N.I.
Status: prospective

(1) In this regulation “hybrid scheme” means a scheme which is a salary related scheme but under which some of the benefits which may be provided are money purchase benefits.
(2) In relation to a hybrid scheme—
(a) section 89A(1) shall have effect as if after “benefits” there were inserted “other than money purchase benefits”;
(b) section 90(1)(a) shall have effect as if the words “other than a salary related scheme” were omitted and as if for “any benefits” there were substituted “any money purchase benefits”; and
(c) section 92(1)(a) (further provisions concerning exercise of option under section 91) shall have effect as if it read “in relation to both the whole of his guaranteed cash equivalent and the whole of any other cash equivalent such as is mentioned in section 90(1)(a);”.

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Source: https://www.legislation.gov.uk/nisr/1996/619/regulation/19 (the official version)
Page: https://openlegislation.uk/occupational-pension-schemes-transfer-values-regulations-northern-ireland-1996/regulation-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.