Northern Ireland Statutory Rule SI 2015/272 United Kingdom

The Funded Public Service Pension Schemes (Reduction of Cash Equivalents) Regulations (Northern Ireland) 2015

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person3 Trustee1

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Trustee — also bound by 104 other Acts
Charities Act 2011 27 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

sch. para. 4 (1) The initial cash equivalent must be calculated– Regulated
  • Calculate initial cash equivalent using prescribed assumptionsAny Person
sch. para. 5 (1) Initial cash equivalents must be calculated using the assumptions... Regulated
  • Use specific assumptions when calculating initial cash equivalentsAny Person
sch. para. 6 The actuary must reduce an initial cash equivalent by the... Regulated
  • Actuary must reduce cash equivalent by trustees’ considered reductionAny Person
s.003 Transfer report Regulated
  • Request transfer reports upon pension scheme designationTrustee
8 other provisions — procedural and definitional
s.001 Citation and commencement
s.001 A transfer report must— (a) have an effective date which... (opens in a new tab)
s.002 Interpretation
s.002 The transfer report liabilities are— (a) for active members with... (opens in a new tab)
s.003 Cash equivalents for each member must be calculated by calculating... (opens in a new tab)
s.004 Reduction of cash equivalent
s.005 Percentage P
s.006 Specification of amount of reduction by the relevant Department

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.