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Section 16 Qualifying schemesI1I2

Northern Ireland

(1)

A pension scheme is a qualifying scheme in relation to a jobholder (J) if—

(a)

it is an occupational pension scheme or a personal pension scheme,

(b)

it is registered under Chapter 2 of Part 4 of the Finance Act 2004 (c. 12), and

(c)

while J is an active member, the scheme satisfies the quality requirement in relation to J.

(2)

The Department may by regulations provide that subsection (1)(b) does not apply in relation to a scheme to which section 25 or 27 applies, if prescribed requirements are satisfied.

(3)

The Department may by regulations provide that a scheme is not a qualifying scheme in relation to J if—

F1(a)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2(aa)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3(ab)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

while J is an active member, the contributions that must be paid to the scheme by, or on behalf or in respect of, J exceed a prescribed amount, or

(c)

the scheme provides for average salary benefits to be provided to or in respect of J and contains prescribed features.

F4(3A)

See also paragraphs1(4) and 2(4) of Schedule 18 to the Pensions Act (Northern Ireland) 2015, which confer power to make regulations providing for a scheme not to be a qualifying scheme in relation to a jobholder in certain circumstances.

F5(4)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1

S. 16(3)(a) omitted (16.7.2015) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(2); S.R. 2015/307, art. 2(1)(n)

F2

S. 16(3)(aa) omitted (16.7.2015) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(2); S.R. 2015/307, art. 2(1)(n)

F3

S. 16(3)(ab) omitted (16.7.2015) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(2); S.R. 2015/307, art. 2(1)(n)

F4

S. 16(3A) inserted (16.7.2015) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(3); S.R. 2015/307, art. 2(1)(n)

F5

S. 16(4)(5) omitted (16.7.2015) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(1), Sch. 18 para. 11(4); S.R. 2015/307, art. 2(1)(n)

Commencement

I1

S. 16 partly in force; s. 16 in force for certain purposes at Royal Assent see s. 118(2)

I2

S. 16 in operation at 30.6.2012 in so far as not already in operation by S.R. 2012/266, art. 2, Sch. Pt. 1

Notes on Part 1

Modifications

C1

Pt. 1 applied (with modifications) (1.7.2012) by The Automatic Enrolment (Offshore Employment) Order 2012 (S.I. 2012/1388), arts. 1(1), 2 (with art. 5)

Notes on Chapter 1

Modifications

C1

Pt. 1 applied (with modifications) (1.7.2012) by The Automatic Enrolment (Offshore Employment) Order 2012 (S.I. 2012/1388), arts. 1(1), 2 (with art. 5)