This section enables parallel protection on bankruptcy for pension rights in unapproved schemes.
Regulations made under this section will enable rights of a person under an unapproved pension arrangement to be protected in the same way as a person’s rights under an approved pension arrangement in prescribed circumstances. The intention is to cover circumstances where the other pension benefits that the bankrupt will receive are likely to be inadequate to meet his reasonable needs and those of his dependants
Commentary on Sections Northern Ireland stakeholder pension scheme legislation Part II: Pensions: General Section 12: Effect of bankruptcy on pension rights: unapproved arrangements