{
  "url": "https://openlegislation.uk/pensions-2012-act-transitional-consequential-and-supplementary-provisions-regulations-northern-ireland-2014/regulation-54",
  "json_url": "https://openlegislation.uk/pensions-2012-act-transitional-consequential-and-supplementary-provisions-regulations-northern-ireland-2014/regulation-54.json",
  "legislation": "nisr/2014/204",
  "legislation_title": "The Pensions (2012 Act) (Transitional, Consequential and Supplementary Provisions) Regulations (Northern Ireland) 2014",
  "legislation_url": "https://openlegislation.uk/pensions-2012-act-transitional-consequential-and-supplementary-provisions-regulations-northern-ireland-2014",
  "path": "regulation/54",
  "kind": "regulation",
  "number": "54",
  "heading": "Closed schemes: Board's assumption of responsibility after the appointed day",
  "text": "(1) This regulation applies where—\n(a) an assessment period in relation to an occupational pension scheme began before the appointed day;\n(b) the scheme is authorised (whether before, on or after the appointed day) to continue as a closed scheme under Article 137(5) of the 2005 Order (closed schemes);\n(c) there is a further assessment period in relation to the scheme; and\n(d) the Board assumes responsibility for the scheme in accordance with Article 142(1) of the 2005 Order (duty to assume responsibility for closed schemes).\n(2) Where the conditions specified in paragraph (3) are met, the Board may determine that the liabilities in relation to benefits specified in regulation 51(4) which were treated as money purchase benefits are to be treated as money purchase benefits for the purposes of the relevant Pension Protection Fund provisions.\n(3) The conditions specified in this paragraph are that—\n(a) the scheme included any of the benefits specified in regulation 51(4), and\n(b) either—\n(i) the trustees or managers of the scheme have determined in accordance with regulation 51(2) that benefits specified in regulation 51(4) should continue to be treated as money purchase benefits, or\n(ii) the trustees or managers of the scheme have, in accordance with regulation 51(5)(b), treated those benefits as money purchase benefits in accordance with a determination or a direction made by the Board.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/2014/204/regulation/54",
    "retrieved_at": "2026-10-29T01:06:02.883085+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}