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Part IIIN.I.F1 [F2Schemes that were contracted-out etc.] and Effects on Members’ State Scheme Rights ...

Textual Amendments

F1Words in Pt. 3 heading omitted (6.4.2016) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(b)

Modifications etc. (not altering text)

C1Pt. 3: power to modify conferred (1.6.1996 for certain purposes otherwise 6.4.1997) by S.I. 1995/3213 (N.I. 22), art. 146(1); S.R. 1996/91, art. 2(f); S.R. 1997/192, art. 2

Pt. 3: power to transfer functions conferred (1.4.1999) by 1999 c. 2, s. 23(1)(2)(6); S.I. 1999/527, art. 2(b), Sch. 2

Chapter IN.I. [F3Schemes that were contracted-out: guaranteed minimum pensions and alteration of scheme rules etc.]

Textual Amendments

F3Pt. 3 Ch. 1 heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 4

[F4Guaranteed minimum pensions]N.I.

Textual Amendments

F4S. 9 cross-heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 12

[F520AConversion of guaranteed minimum pension into other benefits: introductionN.I.

[F6(1)]In this section and sections 20B to 20H—

(a)[F7the rules specified in sections 9(1)(a) and (b) and 13(1) are referred to as the “guaranteed minimum pension rules”,]

(b)[F8“GMP conversion” means amendment of the scheme in relation to an earner so that it no longer contains the guaranteed minimum pension rules,]

[F8“GMP conversion” means—

(i)the amendment of a scheme in relation to an earner who was alive immediately before the conversion date so that it no longer contains the rules specified in sections 9(1)(a) and (b) and 13(1), or

(ii)the amendment of a scheme in relation to a person who, immediately before the conversion date, was the widow, widower or surviving civil partner of an earner so that it no longer contains the rules specified in section 13(1),]

[F9(ba)“P” means—

(i)in relation to a GMP conversion within paragraph (b)(i), the earner mentioned in that provision;

(ii)in relation to a GMP conversion within paragraph (b)(ii), the survivor mentioned in that provision,]

(c)[F10a “GMP-converted scheme” is a scheme which has been subject to GMP conversion,]

(d)“the conversion date” means the date on which that amendment takes effect,

(e)“the pre-conversion benefits” means the benefits provided under the scheme [F11in relation to P] immediately before the conversion date [F12(disregarding money purchase benefits)],

(f)“the post-conversion benefits” means the benefits which are provided under the converted scheme [F13in relation to P] [F14(disregarding money purchase benefits)],

(g)“the converted scheme” means the scheme as it has effect immediately after conversion, and

(h)“the trustees” in relation to a scheme means the trustees, managers or other persons responsible under the scheme for effecting amendments of it.

[F15(2)The Department must give such guidance (if any) as it thinks appropriate about GMP conversion.]]

Textual Amendments

F5Ss. 20A-20H inserted (3.3.2009 for specified purposes, 6.4.2009 in so far as not already in force) by Pensions Act (Northern Ireland) 2008 (c. 1), ss. 12(3), 21(1); S.R. 2009/75, art. 2(a)(b)

F6S. 20A(1): s. 20A renumbered as s. 20A(1) (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 20(a)