# The Pensions (2012 Act) (Transitional, Consequential and Supplementary Provisions) Regulations (Northern Ireland) 2014, Regulation 25: Indexation of cash balance benefits etc: pensions in payment before the appointed day


(1) Article 51 of the 1995 Order (annual increase in rate of pension) does not apply to a pension or part of a pension payable under an occupational pension scheme which meets the conditions specified in paragraph (2).
(2) The conditions specified in this paragraph are that—
(a) the pension or part of a pension—
(i) is derived from any of the benefits specified in paragraph (3) which were attributable to a member's pensionable service on or after 6th April 1997, and
(ii) first came into payment on or after 6th April 2005 but before the appointed day;
(b) the trustees or managers of the scheme before the appointed day treated those benefits as if they were money purchase benefits, and
(c) the pension or part of a pension is not, under the scheme, required to be increased each year or is to be increased at a rate below that required by Article 51 of the 1995 Order.
(3) The benefits specified in this paragraph are—
(a) cash balance benefits;
(b) a defined benefit minimum (in relation to money purchase underpin benefits or cash balance underpin benefits), and
(c) top-up benefits.

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Source: https://www.legislation.gov.uk/nisr/2014/204/regulation/25 (the official version)
Page: https://openlegislation.uk/pensions-2012-act-transitional-consequential-and-supplementary-provisions-regulations-northern-ireland-2014/regulation-25
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.