The Pensions (Northern Ireland) Order 1995

Link to law: http://www.legislation.gov.uk/nisi/1995/3213/contents

Introductory Text

Part I Introductory

1.Title and commencement
2.Interpretation

PART II Occupational Pensions

Supervision by the Authority

3.Prohibition orders
4.Suspension orders
Art. 5 rep. by 2005 NI 1
6.Removal or suspension of trustees: consequences
7.Appointment of trustees
8.Appointment of trustees: consequences
9.Removal and appointment of trustees: property
10.Civil penalties
11.Powers to wind up schemes
12.Powers to wind up public service schemes
Art. 13 rep. by 2005 NI 1
14.Restitution
15.Directions

Member-nominated trustees and directors

16.Requirement for member-nominated trustees
17.Exceptions
18.Corporate trustees: member-nominated directors
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19.Corporate trustees: exceptions
20.Selection, and eligibility, of member-nominated trustees and directors
21.Member-nominated trustees and directors: supplementary

Independent trustees

22.Circumstances in which following provisions apply
23. Power to appoint independent trustees
25.Appointment and powers of independent trustees: further provisions
26.Insolvency practitioner or official receiver to give information to trustees
Arts. 26A - 26C rep. by 2005 NI 1

Trustees: general

27.Trustee not to be auditor or actuary of the scheme
28.Article 27: consequences
29.Persons disqualified for being trustees
30.Persons disqualified: consequences
Art. 30A rep. by 2005 NI 1
Art. 31 rep. by 2005 NI 1

Functions of trustees

32.Decisions by majority
33.Investment powers: duty of care
34.Power of investment and delegation
35.Investment principles
36.Choosing investments
36A.Restriction on borrowing by trustees
37.Payment of surplus to employer
38.Power to defer winding up
39.Exercise of powers by member trustees

Functions of trustees or managers

40.Restriction on employer-related investments
41.Provision of documents for members
Arts. 42‐46 rep. by 1996 NI 16

Advisers

47.Professional advisers
Art. 48 rep. by 2005 NI 1

Receipts, payments and records

49.Other responsibilities of trustees, employers, etc.
49A.Record of winding-up decisions

Resolution of disputes

50.Requirement for dispute resolution arrangements
50A.Meaning of “person with an interest in the scheme”
50B.The dispute resolution procedure

Indexation

51.Annual increase in rate of pension
51ZA.Meaning of “the appropriate percentage”
51A.Restriction on increase where annuity tied to investments
52.Restriction on increase where member is under 55
53.Effect of increases above the statutory requirement
54.Articles 51 to 53: supplementary
55.Article 51: end of annual increase in GMP
Arts. 56 - 61 rep. by 2005 NI 1

Equal treatment

62.The equal treatment rule
63.Equal treatment rule: supplementary
64.Equal treatment rule: exceptions
65.Equal treatment rule: consequential alteration of schemes
66.Equal treatment rule: effect on terms of employment, etc.

Treatment of overseas residents, etc.
66A.Prohibition on different rules for overseas residents, etc.

Modification of schemes

67.The subsisting rights provisions
67A.The subsisting rights provisions: interpretation
67B.The consent requirements
67C.The actuarial equivalence requirements
67D.The actuarial equivalence requirements: further provisions
67E.The trustee approval requirement
67F.The reporting requirement
67G.Powers of the Authority: voidable modifications
67H.Powers of the Authority to intervene
67I.Subsisting rights provisions: civil penalties
68.Power of trustees to modify schemes by resolution
69.Grounds for applying for modifications
70.Article 69: supplementary
71.Effect of orders under Article 69
71A.Modification by Authority to secure winding-up
72.Modification of public service pension schemes

Supervision of winding-up

72A.Reports to Authority about winding-up
72B.Directions by Authority for facilitating winding-up
72C.Duty to comply with directions under Article 72B

Winding up

73.Preferential liabilities on winding up
73A.Operation of scheme during winding up period
73B.Articles 73 and 73A: supplementary
74.Discharge of liabilities by insurance, etc.
75.Deficiencies in the assets
75A.Deficiencies in the assets: multi-employer schemes
76.Excess assets on winding up
77.Excess assets remaining after winding up: power to distribute
Arts. 78 - 84 rep. by 2005 NI 1

Money purchase schemes

85.Schedules of payments to money purchase schemes
86.Schedules of payments to money purchase schemes: supplementary
87.Application of further provisions to money purchase schemes
88.Unpaid contributions in cases of insolvency

Assignment, forfeiture, bankruptcy, etc.,

89.Inalienability of occupational pension
90.Forfeiture, etc.
91.Forfeiture by reference to obligation to employer
92.Articles 89 to 91: supplementary
Art. 93 rep. by 1999 NI 11
Arts. 94 - 112 rep. by 2005 NI 1

General

113.Breach of regulations
114.Overriding requirements
115.Powers to modify this Part
116.Calculations, etc. under regulations: sub-delegation
117.Consultations about regulations
118.Crown application
Art. 119—Amendments
120.“Connected” and “associated” persons
121.Interpretation of Part II
122.Article 121: supplementary

PART III STATE PENSIONS

123.Equalisation of pensionable age and of entitlement to certain benefits and increase in pensionable age
Art. 124 rep. by 2002 c. 21
125.Additional pension: calculation of surpluses
126.Contribution conditions
127.Up-rating of pensions increased under section 52 of Contributions and Benefits Act
128.Graduated retirement benefit
129.Extension of Christmas bonus for pensioners
130.Contributions paid in error
131.Minor amendments

PART IV CERTIFICATION OF PENSION SCHEMES AND EFFECTS ON MEMBERS' STATE SCHEME RIGHTS AND DUTIES

Introductory
132.The “principal appointed day” for Part IV

New certification requirements applying as from the principal appointed day
133.New requirements for contracted-out schemes

Reduction in State scheme contributions, payment of rebates and reduction in State scheme benefits

134.State scheme contributions and rebates
135.Minimum contributions towards appropriate personal pension schemes
136.Money purchase and personal pension schemes: verification of ages.
137.Reduction in benefits for members of certified schemes

Premiums and return to State scheme
138.State scheme, etc. premiums and buyback into State scheme

Protected rights

139.Interim arrangements for giving effect to protected rights
140.Requirements for interim arrangements
141.Interim arrangements: supplementary
142.Extension of interim arrangements to occupational pension schemes
143.Discharge of protected rights on winding up: insurance policies

Miscellaneous

144.Monitoring personal pension schemes
145.Earner employed in more than one employment
146.Hybrid occupational pension schemes
Art. 147—Amendments

PART V MISCELLANEOUS AND GENERAL

Transfer values

148.Extension of scope of right to cash equivalent
149.Right to guaranteed cash equivalent
150.Right to guaranteed cash equivalent: supplementary

Penalties
151.Breach of regulations under the Pension Schemes Act

Pensions Ombudsman

152.Employment of staff by the Pensions Ombudsman
153.Jurisdiction of Pensions Ombudsman
154.Allowances
155.Disclosing information
156.Interest on late payment of benefit

Modification and winding up of schemes
157.Repeal of sections 132 to 139 of Pension Schemes Act

Personal pensions

158.Annual increase in rate of personal pension
159.Article 158: supplementary
160.Power to reject notice choosing appropriate personal pension scheme

Levy
161.Levy

Pensions on divorce, etc.
162.Pensions on divorce, etc.

Official and public service pensions

163.Equal treatment in relation to official pensions
164.Information about public service schemes
Art. 165—Amendments

Subordinate legislation, etc.

166.Orders and regulations (general provisions)
167.Assembly, etc. control of orders and regulations
Art. 168—Repeals

SCHEDULES

SCHEDULE 2
EQUALISATION OF AND INCREASE IN PENSIONABLE AGE FOR MEN AND WOMEN

PART 1 PENSIONABLE AGES FOR MEN AND WOMEN

Rules for determining pensionable age
1.The following rules apply for the purposes of the enactments...

PART II ENTITLEMENT TO CERTAIN PENSION AND OTHER BENEFITS

Pension increases for dependent spouses
2.(1) For sections 83 and 84 of the Contributions and...

Category B retirement pensions
3.(1) For sections 49 and 50 of the Contributions and...

Home responsibilities protection
4.(1) In paragraph 5 of Schedule 3 to the Contributions...

Additional pension
5.In section 46(2) of the Contributions and Benefits Act (benefits...

Increments
6.(1) In section 54(1) of the Contributions and Benefits Act...

Graduated retirement benefit
7.In section 62(1) of the Contributions and Benefits Act (graduated...

Christmas bonus for pensioners
8.In section 145(4) of that Act (Christmas bonus: supplementary), for...

Part III—Amendments
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