Pension Schemes Act (Northern Ireland) 2016
Pension Schemes Act (Northern Ireland) 2016 (2016 c. 1 (N.I.))
- Pension Schemes Act (Northern Ireland) 2016 (2016 c. 1 (N.I.))
- PART 1 CATEGORIES OF PENSION SCHEME
- 1 Introduction
- 2 Defined benefits scheme
- 3 Shared risk scheme (sometimes known as “defined ambition”)
- 4 Defined contributions scheme
- 5 Meaning of “pensions promise” etc
- 6 Treatment of a scheme as two or more separate schemes
- 7 Interpretation of Part 1
- PART 2 COLLECTIVE BENEFITS
- Introduction and nature of collective benefits
- 8 Introduction and definition
- 9 Duty to set targets for collective benefits
- 10 Policy about factors used to determine each benefit
- 11 Power to impose requirements about factors used to determine each benefit
- Contributions
- 12 Payment schedule
- 13 Overdue contributions and other payments
- Investment
- 14 Statement of investment strategy
- 15 Investment performance reports
- 16 Investment powers
- 17 Restriction on borrowing by trustees or managers
- 18 Investment powers: duty of care
- Valuation
- 19 Valuation reports
- 20 Valuation process
- Dealing with deficits and surpluses
- 21 Policy for dealing with a deficit or surplus
- 22 Power to impose requirements about dealing with a deficit or surplus
- 23 Deficits attributable to an offence or the imposition of a levy
- 24 Payment of amounts out of collective benefit funds
- Cash equivalents
- 25 Policy for calculating cash equivalent of benefits
- Winding up
- 26 Winding up
- 27 Requirement to wind up scheme in specified circumstances
- 28 Policies about winding up
- Identifying assets
- 29 Working out which assets are available for the provision of which benefits
- Regulations under Part 2: general
- 30 Requirement to obtain actuarial advice
- 31 Sub-delegation
- 32 Publication of documents etc
- 33 Enforcement
- 34 Overriding requirements
- Interpretation of Part 2
- 35 Interpretation of Part 2
- PART 3 GENERAL CHANGES TO LEGISLATION ABOUT PENSION SCHEMES
- Administration and governance
- 36 Pensions promise obtained from third party
- 37 Duty to act in the best interests of members
- 38 Disclosure of information about schemes
- Early leavers
- 39 Extension of preservation of benefit under occupational pension schemes
- 40 Revaluation of accrued benefits
- Indexation
- 41 Collective benefits exempt from indexation
- 42 Regulatory own fund schemes exempt from indexation
- 43 Power to create other exemptions from indexation
- Independent trustees
- 44 Removal of requirement to maintain register of independent trustees
- Rules about modification of schemes
- 45 Rules about modification of schemes
- Pension sharing
- 46 Pension sharing and normal benefit age
- Other amendments
- 47 Other amendments to do with Parts 1 and 2
- PART 4 GENERAL
- 48 Power to make consequential amendments
- 49 Regulations
- 50 Crown application
- 51 Interpretation
- 52 Commencement
- 53 Short title
- SCHEDULES
- SCHEDULE 1 EARLY LEAVERS: REVALUATION OF ACCRUED BENEFITS
- SCHEDULE 2 OTHER AMENDMENTS TO DO WITH PARTS 1 AND 2
- Pension Schemes (Northern Ireland) Act 1993 (c. 49)
- Pensions (Northern Ireland) Order 1995 (NI 22)
- Welfare Reform and Pensions (Northern Ireland) Order 1999 (NI 11)
- Pensions (Northern Ireland) Order 2005 (NI 1)
- Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13)
- Pensions Act (Northern Ireland) 2015 (c. 5)
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