C1C6 Part IIIF8F10Schemes that were contracted-out etc. and Effects on Members’ State Scheme Rights ...
Words in Pt. 3 heading substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 3(a)
Pt. 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 III Termination of Contracted-out or Appropriate Scheme Status: State Scheme Premiums
State scheme premiums
C251 Payment of state scheme premiums on termination of certified status.
F1F71
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F22
Where—
a
an earner is serving in employment which is contracted-out employment by reference to an occupational pension scheme F9...,
b
paragraph (a) ceases to apply, by reason of any of the following circumstances, before the earner attains the scheme’s normal pension age or (if earlier) the end of the tax year preceding that in which the earner attains pensionable age, and
c
the earner has served for less than two years in the employment,
the prescribed person F3shall, if subsection (2B) applies, pay and otherwise may elect to pay a premium under this subsection (referred to in this Act as a “contributions equivalent premium”).
F42ZA
In this section “prescribed” means prescribed by regulations made by the Secretary of State.
2A
The circumstances referred to in subsection (2) are that—
a
the earner’s service in the employment ceases otherwise than on the earner’s death,
b
the earner ceases to be a member of the scheme otherwise than on the earner’s death,
c
the earner’s service in the employment ceases on the earner’s death and the earner dies leaving a widow or widower,
d
the scheme is wound up,
e
the scheme ceases to be a contracted-out occupational pension scheme;
F5. . .
C3C5C4F62B
Except in prescribed circumstances, this subsection applies in any case where the earner has no accrued right to any benefit under the scheme.
2C
Where a contributions equivalent premium is required to be paid in respect of an earner by virtue of subsection (2), the prescribed person must notify the Inland Revenue of that fact within the prescribed period and in the prescribed manner.
3
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F15
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F16
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Words 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)