Local Government (Superannuation) (Interchange) Regulations (Northern Ireland) 1998
These regulations amend the Local Government (Superannuation) Regulations (Northern Ireland) 1992 (“the principal Regulations”) to take account of the provisions relating to transfer values contained in Chapter IV of Part IV of the Pension Schemes (Northern Ireland) Act 1993. Regulations 11 to 17 and 19 to 20 amend Part J of, and Schedules 1, 16 and 17 to, the principal Regulations and revise the provisions regarding—the payment of transfer values to occupational pension schemes, self-employed pension arrangements and insurance companies representing the cash equivalent of the accrued rights being transferred; andthe amount of reckonable service to be credited upon receipt of a transfer value calculated in a manner consistent with the methods and assumptions made in determining the transfer value.