Contracting out of additional state pension on a defined-contribution basis abolished in Northern Ireland
Implementation date: 6 April 2012
The Pensions Act (Northern Ireland) 2008 (on the UK legislation website) abolishes contracting out of the additional state pension on a defined-contribution basis for occupational pension schemes and for personal and stakeholder pension schemes, and the rules governing contracted-out rights in schemes. Secondary legislation, which implements the abolition and makes consequential amendments and transitional provisions, can be viewed on the UK legislation website:
- Pensions (2008 Act) (Commencement No.3) Order (Northern Ireland) 2012 (SR 2012/115) The commencement order brings into force s.13(1) of the Pensions Act (Northern Ireland) 2008, which abolishes contracting-out of the additional state pension for defined-contribution pension schemes.
- Pensions (2008 No.2 Act) (Commencement No.7) Order (Northern Ireland) 2012 (SR 2012/119) The commencement order brings into force s.85 of, and part 3 of sch.10 to, the Pensions (No.2) Act (Northern Ireland) 2008, which abolish the special provisions that apply to the protected rights of members of pension schemes on the contracting-out abolition date.
- Pensions (2008 Act) (Abolition of Contracting-out for Defined Contribution Pension Schemes) (Consequential Provisions) Regulations (Northern Ireland) 2012 (SR 2012/120) The Regulations make amendments to legislation in consequence of the abolition of contracting out on a defined-contribution basis.
- Pensions (2008 No.2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 The Order makes amendments to legislation in consequence of the implementation of s.85 of the Pensions (No.2) Act (Northern Ireland) 2008.
- Occupational Pension Schemes (Contracting-out and Modification of Schemes) (Amendment) Regulations (Northern Ireland) 2012 The Regulations increase the percentage to be used for the revaluation of an early leaver's guaranteed minimum pension, and permit trustees of formerly contracted-out defined-contribution occupational pension schemes to change their scheme rules.
