76 Transfer rights

76  Transfer rights

(1)     Chapter 1 of Part 4ZA of the Pension Schemes (Northern Ireland) Act 1993 (transfer rights: general) is amended as follows.

(2)     In section 89 (scope of Chapter 1)—

(a)     in subsection (7) (crystallisation events), in paragraph (b), after “money purchase benefits” insert “other than collective money purchase benefits”;

(b)     after subsection (10) insert—

“(10A)     Where a pension scheme is divided into sections, each section that is a collective money purchase scheme for the purposes of Part 2 of the Pension Schemes Act 2021 (see section 52(2)(b) of that Act) is to be treated as a separate scheme for the purposes of this Chapter.”

(3)     In section 93 (calculation of cash equivalents),

Powered by Lexis+®

Popular documents