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The Pension Protection Fund (Compensation) Regulations (Northern Ireland) 2005

S.R. 2005/149 · Made 22 March 2005 · Extends to Northern Ireland

Up to date with all changes known to legislation.gov.uk, revised to 18 November 2024.

PENSIONS

Made 22nd March 2005

Coming into operation 6th April 2005

The Department for Social Development, in exercise of the powers conferred on it by Articles 2(5)(a) and 287(2) and (3) of, and paragraphs 4(4), 6(4), 9(4), 13(4), 16(3)(b), 18(4), 20(4) and (7), 23, 24(1), (2) and (6), 25(1), 26(9) and (10), 28(6) and (7), 31(2)(a) and (3) and 33 of Schedule 6 to, the Pensions (Northern Ireland) Order 2005f1 and of all other powers enabling it in that behalf, hereby makes the following Regulations:

Annotations to the whole text

Footnotes

f1

S.I. 2005/255 (N.I. 1); the Pensions (Northern Ireland) Order 2005 is modified in its application to partially guaranteed schemes, hybrid schemes and multi-employer schemes by, respectively, S.R. 2005 Nos. 55, 84 and 91

Contents

  1. Part 1: PRELIMINARY
  2. 1Citation, commencement and interpretation
  3. Part 2: EARLY PAYMENT OF COMPENSATION
  4. 2Circumstances where a person shall be entitled to early payment of compensation
  5. Part 2A: Postponement of compensation
  6. 2APostponing compensation
  7. 2BCircumstances in which periodic and lump sum compensation can be postponed
  8. 2CConditions subject to which periodic and lump sum compensation can be postponed
  9. 2DDate on which postponement ceases
  10. Part 3: BENEFITS FOR SURVIVORS
  11. 3Circumstances where a widow or widower is not entitled to periodic compensation
  12. 4Compensation for surviving dependants
  13. 5Amount and duration of periodic compensation in the case of relevant partners
  14. 6Amount of periodic compensation that can be paid in the case of surviving dependants
  15. 7Period of payment
  16. 8Change of circumstances and backdating
  17. Part 4: ADMISSIBLE RULES
  18. 9Special provision in relation to pensions in payment to survivors
  19. 10Special provision in relation to pensions in payment following early retirement
  20. 11Special provision in relation to pensions in payment on grounds of ill health
  21. 12Modification of Schedule 6 in relation to certain pensions in payment before the assessment date
  22. Part 5: REVALUATION
  23. 12AActive members below normal pension age: cases where it is unclear whether pensionable service is attributable to periods on or after 6th April 2009
  24. 13Manner of determining the revaluation amount
  25. 13ZADeferred members below normal pension age: cases where it is unclear whether pensionable service is attributable to periods on or after 6th April 2009
  26. 13AModification of Schedule 6 in relation to schemes with no revaluation
  27. Part 6: COMPENSATION IN RESPECT OF PROTECTED TRANSFER PAYMENT OR PROTECTED CONTRIBUTION REPAYMENT
  28. 14Modification of admissible rules
  29. 15Disapplication of paragraphs 8, 10, 11 and 14 of Schedule 6
  30. 16Transitional provisions
  31. Part 7: COMMUTATION
  32. 17Commutation of periodic compensation
  33. 18Circumstances in which the portion of compensation to be commuted may exceed 25 per cent.
  34. 19Manner in which an option to commute may be exercised Repealed
  35. Part 8: COMPENSATION CAP MODIFICATIONS
  36. 20Application of compensation cap where compensation becomes payable on different dates
  37. 21Disregard of certain small payments in determining PPF compensation cap
  38. Part 9: ANNUAL INCREASE IN PERIODIC COMPENSATION
  39. 22Annual increase in periodic compensation: post-1997 and pre-1997 service
  40. Part 10: CASH BALANCE SCHEMES
  41. 23Cash balance schemes: modification of paragraphs 3, 5, 8, 10, 11, 14, 15, 19, 22 and 37 of Schedule 6
  42. 23ACash balance schemes: modification of Schedule 6
  43. Part 11: CAREER AVERAGE REVALUED EARNINGS SCHEMES
  44. 24Career average revalued earnings schemes: modification of paragraphs 8, 10, 11 and 14 of Schedule 6
  45. 25Schemes where part of pension entitlement is determined on a career average revalued earnings basis: modification of paragraphs 8, 10, 11 and 14 of Schedule 6
  46. Part 12: Variable-rate schemes
  47. 26Variable-rate schemes which provide for a decrease in annual rate of pension: modification of Schedule 6
  48. 27Variable-rate schemes which provide for a decrease in annual rate of pension: modification of Schedule 6
  49. Part 13: Schemes which provide fixed pensions in respect of transfer payments
  50. 28Schemes which provide fixed pensions in respect of transfer payments: modification of Schedule 6
  51. Signature
  52. Explanatory note