OpenLegislation

Regulation 3 Modification of Schedule 5A to the ActI1

Northern Ireland

(1)

Schedule 5A to the Actf1 (pension increase or lump sum where entitlement to shared additional pension is deferred) shall be modified in relation to transitional cases in accordance with paragraphs (2) to (4).

(2)

In paragraph 1(1) (choice between pension increase and lump sum where entitlement to shared additional pension is deferred) –

(a)

after “12 months” there shall be inserted “and at least 12 months of that period fall after 5th April 2005”;

(b)

for head (b) there shall be substituted the following head –

“(b)

that paragraph 2 is to apply in relation to so much of the period of deferment as falls before the first day of the first accrual period (as defined by paragraph 5(2)) beginning on or after 6th April 2005 and that paragraph 4 (lump sum where entitlement to shared additional pension is deferred) is to apply in relation to the remainder of the period of deferment.”.

(3)

In paragraph 2(2) (increase of pension where entitlement deferred) for the words from “that amount” to the end there shall be substituted –

  • “–

    1. (a)

      there are at least 7 incremental periods in the period of deferment;

    2. (b)

      there are at least 5 incremental periods in the period of deferment and the amount of the increment for at least one of those periods is calculated in accordance with paragraph 3(2); or

    3. (c)

      the person has made (or is treated as having made) an election under paragraph 1(1)(b) and there is at least one incremental period before the first day of the first accrual period (as defined by paragraph 5(2)) beginning on or after 6th April 2005.”.

(4)

In paragraph 5 (calculation of lump sum) –

(a)

at the end of sub-paragraph (1) there shall be added “or, if greater, the amount equal to the total amount of shared additional pension which would have been payable to the person during the period of 12 months ending with the last day of the period of deferment if his entitlement had not been deferred”;

(b)

in sub-paragraph (2) in the definition of “accrual period” for “a prescribed day of the week” there shall be substituted “the day of the week on which the person’s shared additional pension would have been payable had his entitlement not been deferred”.

Annotations

Commencement

I1

Reg. 3 in operation at 6.4.2005, see reg. 1(1)

Footnotes

f1

Schedule 5A is inserted by paragraph 14 of Schedule 9 to the Pensions (Northern Ireland) Order 2005