Section 16 Transfer of accrued rights.C1

Northern Ireland

(1)

Regulations may prescribe circumstances in which and conditions subject to which—

(a)

a transfer of or a transfer payment in respect of—

(i)

an earner’s accrued rights to guaranteed minimum pensions under a F1scheme that was a contracted-out scheme;

(ii)

an earner’s accrued rights to pensions under an occupational pension scheme F2... to the extent that those rights derive from his accrued rights to guaranteed minimum pensions under a F3scheme that was a contracted-out scheme; or

(iii)

the liability for the payment of guaranteed minimum pensions to or in respect of any person who has become entitled to them,

may be made by an occupational pension scheme to another such scheme F4, to a personal pension scheme or to an overseas arrangement;

(b)

a transfer of or a transfer payment in respect of an earner’s accrued rights to guaranteed minimum pensions which are appropriately secured for the purposes of section 15 may be made to an occupational pension scheme F5, a personal pension scheme or an overseas arrangement.

(2)

Any such regulations may be made so as to apply to earners who are not in employment at the time of the transfer.

(3)

Regulations under subsection (1) may provide that any provision of this Part (other than sections 14, 15 and 39 to 41, F6... so far as they apply to personal pension schemes) or of Chapter III of Part IV or Chapter II of Part V shall have effect, where there has been a transfer to which they apply, subject to such modifications as may be specified in the regulations.

(4)

Regulations under subsection (1) shall have effect in relation to transfers whenever made unless they provide that they are only to have effect in relation to transfers which take place after they come into operation.

(5)

The power conferred by subsection (1) is without prejudice to the generality of section 177(2) or section 17(5) of the M1Interpretation Act (Northern Ireland) 1954.

(6)

In the provisions mentioned in subsection (3) “accrued rights”, in relation to an earner, means the rights conferring prospective entitlement under the scheme in question to the pensions to be provided for the earner and the earner’s F7widow, widower or surviving civil partner in accordance with sections 9 and 13, and references to an earner’s accrued rights to guaranteed minimum pensions shall be construed accordingly.

Annotations

Notes on Part III

Textual amendments

F1: Words in Pt. 3 heading omitted (6.4.2016) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(b)
F2: Words in Pt. 3 heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(a)

Modifications

C1

Pt. 3: power to modify conferred (1.6.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 146(1); S.R. 1996/91, art. 2(f); S.R. 1997/192, art. 2

Pt. 3: power to transfer functions conferred (1.4.1999) by 1999 c. 2, s. 23(1)(2)(6); S.I. 1999/527, art. 2(b), Sch. 2

C2

Pt. 3 modified (24.7.2014) by The Pensions (2012 Act) (Transitional, Consequential and Supplementary Provisions) Regulations (Northern Ireland) 2014 (S.R. 2014/204), regs. 1(1), 6(2)

Notes on Chapter I

Textual amendments

F1: Pt. 3 Ch. 1 heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 4

Notes on Guaranteed minimum pensions

Textual amendments

F1: S. 9 cross-heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 12

Section 16 Transfer of accrued rights.C1

Annotations

Textual amendments

Marginal citations

Modifications

Notes on Part III

Textual amendments

Modifications

Notes on Chapter I

Textual amendments

Notes on Guaranteed minimum pensions

Textual amendments