Source: http://www.legislation.gov.uk/nisi/1995/3213/part/II/crossheading/indexation
Timestamp: 2020-02-23 20:35:38
Document Index: 473271600

Matched Legal Cases: ['art. 51', 'art. 2', 'Art. 51', 'art. 11', 'art. 51', 'Art. 51', 'art. 51', 'art. 2', 'Art. 51', 'art. 2', 'Art. 51', 'Art. 51', 'art. 51', 'art. 2', 'Art. 51', 'art. 2', 'Art. 51', 'art. 2', 'art. 51', 'Art. 51', 'art. 54', 'Art. 54', 'art. 2', 'Art. 54', 'art. 2']

The Pensions (Northern Ireland) Order 1995, Cross Heading: Indexation is up to date with all changes known to be in force on or before 23 February 2020. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes and effects yet to be applied to Part II Crossheading Indexation:
Annual increase in rate of pensionN.I.
F151 .—(1) Subject to [F2paragraphs (6) and (7)] , this Article applies to a pension under an occupational pension scheme if—
[F3(i)is a registered pension scheme under section 153 of the Finance Act 2004, and ]
[F4(iii)in the case where the pension becomes a pension in payment on or after the commencement day, is not a money purchase scheme, and]
[F4(b)the whole, or any part of, the pension is attributable—
(i)to pensionable service on or after [F56 April 1997 ] , or
(ii)in the case of money purchase benefits where the pension is in payment before the commencement day, to payments in respect of employment carried on on or after [F56 April 1997 ] , and
would not be increased each year by at least the appropriate percentage of that rate.]
(2) [F6Subject to Articles 51A and 52], where a pension to which this Article applies, or any part of it, is attributable to pensionable service on or after [F56 April 1997] or, in the case of money purchase benefits[F4 where the pension is in payment before the commencement day], to payments in respect of employment carried on or after [F56 April 1997] —
(b)if only part of the pension is attributable to pensionable service or, as the case may be, to payments in respect of employment carried on on or after [F56 April 1997] , so much of the annual rate as is attributable to that part,
[F7(3) Paragraph (2) does not apply to the annual rate of a pension under an occupational pension scheme, or to a part of that rate, if under the rules of the scheme the rate or part is for the time being being increased at intervals of not more than 12 months by at least the relevant percentage.
(4ZE) If only part of the pension is attributable to pensionable service or, as the case may be, to payments in respect of employment carried on on or after [F56 April 1997] , in paragraphs (3) to (4ZD) references to the annual rate of the pension are references to so much of that rate as is attributable to that part.
where that index is not published for a month, any substituted index or figures published by the Board.]
[F4(4A) For the purposes of this Article, a pension is a category X pension if it is—
each of those parts of the pension is to be treated as if it were a separate pension.]
(5) Regulations may provide that[F4 any of the provisions of this Article] apply in relation to a pension as if so much of it as would not otherwise be attributable to pensionable service or to payments in respect of employment were attributable to pensionable service or, as the case may be, payments in respect of employment—
(a)before [F56 April 1997] [F4 or the commencement day],
(6) This Article does not apply to any pension or part of a pension[F8 which is attributable (directly or indirectly) to a pension credit or] which, in the opinion of the trustees or managers, is derived from the payment by any member of the scheme of voluntary contributions.
[F9(7) This Article does not apply to any pension (or part of a pension) under a relevant occupational pension scheme which—
[F10(8) An occupational pension scheme is a “relevant occupational pension scheme” if—
(b)it has, at any time on or after 6 April 1997, been a salary related contracted-out scheme but no person is entitled to receive, or has accrued rights to, benefits under the scheme attributable to a period on or after that day when it was such a scheme.]]
F1mod. by SR 2005/170
F2Words in art. 51(1) substituted (7.6.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), ss. 21(2), 34(3); S.R. 2012/233, art. 2(2)(f)
F3Art. 51(1)(a)(i) substituted (6.4.2006) by Taxation of Pension Schemes (Consequential Amendments) Order 2006 (S.I. 2006/745), art. 11(2)
F5Words in art. 51 substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 58(2)
F7Art. 51(3)-(4ZG) substituted for art. 51(3)(4) (7.6.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), ss. 20(8), 34(3); S.R. 2012/233, art. 2(2)(e)
F9Art. 51(7)(8) added (7.6.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), ss. 21(3), 34(3); S.R. 2012/233, art. 2(2)(f)
F10Art. 51(8) substituted (6.4.2016) by Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 58(3)
C1Art. 51 excluded (24.7.2014) by The Pensions (2012 Act) (Transitional,ConsequentialandSupplementaryProvisions) Regulations (Northern Ireland) 2014 (S.R. 2014/204), regs. 1(1), 25(1)
[F11Meaning of “the appropriate percentage”N.I.
(a) in the case of a category X pension, means the [F12higher revaluation percentage] for the latest revaluation period specified in the latest revaluation order (revaluation of accrued pension benefits) which is in force at the time of the increase, and
[F13(b) in the case of a category Y pension, means the lower revaluation percentage for that period.]]
F12Words in art. 51ZA(a) substituted (6.4.2009) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), ss. 80(1)(c), 118(1), Sch. 1 para. 8(a) (with s. 80(2)); S.R. 2009/22, art. 2(2)(c)
F13Art. 51ZA(b) substituted (6.4.2009) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), ss. 80(1)(c), 118(1), Sch. 1 para. 8(b) (with s. 80(2)); S.R. 2009/22, art. 2(2)(c)
[F14Meaning of “cash balance benefit”N.I.
(b)the amount of a lump sum payable to a member, or in respect of a deceased member, will represent a particular proportion of the available sum.]
F14Art. 51ZB inserted (7.6.2012) by Pensions Act (Northern Ireland) 2012 (c. 3), ss. 21(4), 34(3); S.R. 2012/233, art. 2(2)(f)
[F15Restriction on increase where annuity tied to investmentsN.I.
(a)is payable by way of an annuity the amount of which for any year after the first year of payment is determined (whether under the terms of the scheme or under the terms of the annuity contract in pursuance of which it is payable) by reference to fluctuations in the value of, or the return from, particular investments, [F16and]
(3) In this Article “the relevant date” means the date appointed for the coming into operation of section 47 of the Child Support, Pensions and Social Security Act (Northern Ireland) 2000.]
F152000 c. 4 (NI)
F16Word in art. 51A(1)(a) inserted (6.4.2012) by The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 5(2)(a)
F17Art. 51A(1)(b) omitted (6.4.2012) by virtue of The Pensions (2008 No. 2 Act) (Abolition of Protected Rights) (Consequential Provisions) Order (Northern Ireland) 2012 (S.R. 2012/124), arts. 1(b), 5(2)(b)
Restriction on increase where member is under 55N.I.
Effect of increases above the statutory requirementN.I.
53.—(1) Where in any tax year the trustees or managers of an occupational pension scheme make an increase in a person's pension, not being an increase required by section 105 of the Pension Schemes Act or Article 51, they may deduct the amount of the increase from any increase which, but for this paragraph, they would be required to make under that section or Article in the next tax year.
(2) Where in any tax year the trustees or managers of such a scheme make an increase in a person's pension and part of the increase is not required by section 105 of the Pension Schemes Act or Article 51, they may deduct that part of the increase from any increase which, but for this paragraph, they would be required to make under that section or Article in the next tax year.
[F18(3A) In paragraphs (1) and (2), the references to a person's pension do not include any pension which is attributable (directly or indirectly) to a pension credit.]
Articles 51 to 53: supplementaryN.I.
Definition rep. by 2005 NI 1
[F20“the commencement day” means the day appointed for the coming into operation of Article 255 of the Pensions (Northern Ireland) Order 2005 (amendments to Article 51);]
[F21“higher revaluation percentage” and “lower revaluation percentage” mean the higher revaluation percentage and the lower revaluation percentage specified for a revaluation period by a revaluation order;]
“reference period” has the meaning given by paragraph 2 of Schedule 3 to the Pension Schemes Act 1993F22,
F19Words in art. 54(3) omitted (6.4.2016) by virtue of Pensions Act (Northern Ireland) 2015 (c. 5), s. 53(3), Sch. 13 para. 59
F202005 NI 1
F21Art. 54(3): definitions of "higher revaluation percentage" and "lower revaluation percentage" inserted (6.4.2009) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), ss. 80(1)(c), 118(1), Sch. 1 para. 9(a) (with s. 80(2)); S.R. 2009/22, art. 2(2)(c)
F221993 c. 48
F23Art. 54(3): definition of "revaluation percentage" repealed (6.4.2009) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), ss. 80(1)(c), 116, 118(1), Sch. 1 para. 9(b), Sch. 10 Pt. 5 (with s. 80(2)); S.R. 2009/22, art. 2(2)(c)(d)
Article 51: end of annual increase in GMPN.I.
55. In section 105 of the Pension Schemes Act (annual increase of guaranteed minimum pensions), in subsection (1) (increase in rate of that part of guaranteed minimum pension attributable to earnings factors for tax year 1988‐89 and subsequent tax years) for “the tax year 1988‐89 and subsequent tax years” substitute “the tax years in the relevant period as defined in that section”.
Arts. 56 - 61 rep. by 2005 NI 1