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Pensions Act (Northern Ireland) 2015

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Pensions Act (Northern Ireland) 2015, Section 43 is up to date with all changes known to be in force on or before 24 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Disclosure of information about transaction costs to members etc.N.I.

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43  In section 109 of the Pension Schemes Act (disclosure of information about schemes to members etc.), after subsection (4) insert—

(5) The Department must make regulations under subsection (1) requiring information about some or all of the transaction costs of a relevant scheme to be given to some or all of the persons mentioned in subsection (2).

(6) The Department must by regulations make provision requiring the publication of information about—

(a)some or all of the transaction costs of a relevant scheme, and

(b)some or all of the administration charges imposed on members of a relevant scheme.

(7) Regulations under subsection (6) may require other relevant information to be published along with information about transaction costs or administration charges in relation to a scheme.

(8) Other relevant information” means other information which would or may assist in making comparisons between those costs or charges and costs or charges in relation to other schemes.

(9) In this section—

administration charge” has the meaning given by paragraph 1(5) of Schedule 18 to the Pensions Act (Northern Ireland) 2015;

relevant scheme” means a money purchase scheme that is an occupational pension scheme..

Commencement Information

I1S. 43 in operation at 9.3.2018 by S.R. 2018/41, art. 2(1) (with art. 2(2))

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