Part 2: Collective Money Purchase Benefits: Northern Ireland Definitions Section 57: Amendment of definitions of "money purchase benefits" etc
This section makes provision for Northern Ireland similar to that made by section 6. This section introduces Schedule 4, which makes amendments to Northern Ireland legislation similar to the amendments made by Schedule 1. Schedule 4 makes amendments to existing definitions of ‘money purchase benefits’ set out in legislation to insert CMPBs as a type of money purchase benefit. It also amends section 30 of the Pensions Act (Northern Ireland) 2012, which contains a power to amend by regulations the definitions of money purchase benefits in legislation, so that regulations made under section 30 may also amend the definition of CMPBs in this Act and other legislation. In this case the power to make regulations vests in the Department for Communities in Northern Ireland.