Pensions Act, 1990
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PART III Preservation of Benefits | ||
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Interpretation (Part III). |
27.—(1) In this Part and the Second Schedule , except where the context otherwise requires— | |
“qualifying service”, in relation to a member of a scheme, means the aggregate of every period of reckonable service, whether or not continuous in each case, under— | ||
(a) the scheme, | ||
(b) every other scheme relating to the same employment, | ||
(c) every other scheme relating to any other employment in respect of which rights to long service benefit have been granted under the scheme in substitution for accrued rights under such other scheme: | ||
Provided that no such period, or part thereof, shall be counted more than once; | ||
“transfer payment” has the meaning assigned to it by section 34 (2). | ||
(2) Where the rate or amount of part of the long service benefit payable under a defined benefit scheme is directly determined by an amount of contribution paid by or in respect of the member, then, for the purposes of this Part and the Second Schedule , the scheme in so far as it relates to such part of the long service benefit shall be treated as a defined contribution scheme and, in so far as it relates to other benefits (including the remaining part of the long service benefit) shall be treated as a defined benefit scheme. | ||
(3) References in this Part and the Second Schedule to a defined contribution scheme or a defined benefit scheme shall be construed as including references to a part of such scheme. |