SCHEDULES

SCHEDULE 4ABOLITION OF CONTRACTING-OUT FOR DEFINED CONTRIBUTION PENSION SCHEMES

PART 2FURTHER AMENDMENTS

The Pension Schemes (Northern Ireland) Act 1993 (c. 49)

I359

I11

Paragraph 2 of Schedule 3 (priority in bankruptcy, etc.: employer's contributions to occupational pension scheme) is amended as follows.

I22

Omit sub-paragraphs (2) and (3) (sums owed on account of employer's minimum payments to a money purchase contracted-out scheme).

I23

In sub-paragraph (3A) (definition of “the appropriate amount”)—

a

in the opening words omit “or (3)”;

b

in paragraph (a) omit “or (2) (as the case may be)”.

4

In sub-paragraph (5) (interpretation)—

a

omit the definition of “appropriate flat-rate percentage”;

F1b

in the definition of “the percentage for contributing earners”—

i

omit the words “(a) in relation to a salary related contracted-out scheme,”;

ii

omit paragraph (b) and the preceding “and”;

F1c

in the definition of “the percentage for non-contributing earners”—

i

omit the words “(a) in relation to a salary related contracted-out scheme,”;

ii

omit paragraph (b) and the preceding “and”.