Statutory Instrument 1995 No. No. 3213 (N.I. 22)

      The Pensions (Northern Ireland) Order 1995

      © Crown Copyright 1995

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STATUTORY INSTRUMENTS

1995 No. No. 3213 (N.I. 22)

NORTHERN IRELAND

The Pensions (Northern Ireland) Order 1995

Made 13th December 1995
Laid before Parliament 14th December 1995
Coming into operation in accordance with Article 1


ARRANGEMENT OF ORDER

Part I
Introductory
1.  Title and commencement.
2.  Interpretation
Part II
Occupational Pensions
Supervision by the Authority
3.  Prohibition orders.
4.  Suspension orders.
5.  Removal of trustees: notices.
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.
13.  Injunctions.
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.  Requirement for independent trustee.
24.  Members' powers to apply to High Court to enforce duty.
25.  Appointment and powers of independent trustees: further provisions.
26.  Insolvency practitioner or official receiver to give information to trustees.
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.
31.  Trustees not to be indemnified for fines or civil penalties.
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.
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.
Employee trustees
42.  Time off for performance of duties and for training.
43.  Payment for time off.
44.  Time limit for proceedings.
45.  Remedies.
46.  Right not to suffer detriment in employment or be unfairly dismissed.
Advisers
47.  Professional advisers.
48.  "Blowing the whistle".
Receipts, payments and records
49.  Other responsibilities of trustees, employers, etc.
Resolution of disputes
50.  Resolution of disputes.
Indexation
51.  Annual increase in rate of pension.
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.
Minimum funding requirement
56.  Minimum funding requirement.
57.  Valuation and certification of assets and liabilities.
58.  Schedules of contributions.
59.  Determination of contributions: supplementary.
60.  Serious underprovision.
61.  Articles 56 to 60: supplementary.
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.
Modification of schemes
67.  Restriction on powers to alter schemes.
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.
72.  Modification of public service pension schemes.
Winding up
73.  Preferential liabilities on winding up.
74.  Discharge of liabilities by insurance, etc.
75.  Deficiencies in the assets.
76.  Excess assets on winding up.
77.  Excess assets remaining after winding up: power to distribute.
Decisions of Compensation Board
78.  Review of Compensation Board's decisions.
The compensation provisions
79.  Cases where compensation provisions apply.
80.  Applications for payments.
81.  Amount of compensation.
82.  Payments made in anticipation.
83.  Surplus funds.
84.  Modification of compensation provisions.
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.
93.  Pension rights of individuals adjudged bankrupt, etc.
Questioning the decisions of the Authority
94.  Review of decisions.
95.  References and appeals from the Authority.
Gathering information: the Authority
96.  Provision of information: the Authority.
97.  Inspection of premises: the Authority.
98.  Warrants.
99.  Information and inspection: penalties.
100.  Savings for certain privileges, etc.
101.  Publishing reports: the Authority.
Disclosure of information: the Authority
102.  Restricted information.
103.  Information supplied to the Authority by corresponding overseas authorities.
104.  Disclosure for facilitating discharge of functions by the Authority.
105.  Disclosure for facilitating discharge of functions by other supervisory authorities.
106.  Other permitted disclosures.
107.  Disclosure of information by the Inland Revenue.
Gathering information: the Compensation Board
108.  Provision of information: the Compensation Board.
109.  Informations: penalties.
110.  Savings for certain privileges: the Compensation Board.
111.  Publishing reports: the Compensation Board.
112.  Disclosure of information.
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.
119.  Consequential amendments.
120.  "Connected" and "associated" pensions.
121.  Interpretation of Part II.
122.  Article 121: supplementary.
Part III
State Pensions
123.  Equalisation of pensionable age and entitlement to certain benefits.
124.  Enhancement of additional pension, etc. where family credit or disability working allowance paid.
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 "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 shcemes
145.  Earner employed in more than one employment.
146.  Hybrid occupational pension schemes.
Minor and consequential amendments
147.  Minor and consequential amendments related to Articles 133 to 146.
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.
General minor and consequential amendments
165.  General minor and consequential amendments.
Subordinate legislation, etc.
166.  Orders and regulations (general provisions).
167.  Assembly, etc. control of orders and regulations.
168.  Repeals.

SCHEDULES:

  Schedule 1—  Amendments consequential on Part II.

  Schedule 2—  Equalisation
  Part I — Pensionable ages for men and women.
  Part II— Entitlement to certain pension and other benefits.
  Part III— Consequential amendments.

  Schedule 3—  Amendments relating to Part IV, etc.

  Schedule 4—  General Minor and Consequential Amendments.

  Schedule 5—  Repeals.
  Part I— Occupational Pensions.
  Part II— State Pensions, etc.
  Part III— Certification of Pension Schemes, etc.
  Part IV— Miscellaneous and General.

 

Explanatory Note


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Prepared 20th September 2000