http://www.legislation.gov.uk/nisr/2024/15/regulation/33/2024-01-26The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024enPENSIONSStatute Law Database2024-11-14Expert Participation2024-01-26 These Regulations revoke and re-enact the Occupational Pension Schemes (Collective Money Purchase Schemes) (No. 2) Regulations (Northern Ireland) 2023 (“the Collective Money Purchase Schemes Regulations”) which would otherwise cease to have effect by virtue of section 112(3)(b) of the Pensions (No. 2) Act (Northern Ireland) 2008, section 51(3)(b) of the Pensions Act (Northern Ireland) 2015 and section 102(5)(b) of the Pension Schemes Act 2021 (“the 2021 Act”). Like the Collective Money Purchase Schemes Regulations, the Regulations implement the new authorisation and supervisory regime for collective money purchase schemes under Part 2 of the 2021 Act. They also make provision for amendments to subordinate legislation in relation to schemes providing collective money purchase benefits. PART 6Triggering events and continuity optionsPause orders 33 Where a pause order containing a direction under section 95(5)(e) of the 2021 Act (pause orders) has effect in respect of a scheme, section 95 of the 1993 Act (trustees’ duties after exercise of option) has effect in relation to that scheme as if for subsection (2)(c) of section 95 there were substituted— c in the case of an application which relates to money purchase benefits that are collective money purchase benefits, by the later of— i the last day of the period of 6 months beginning with the date of the application or such longer period beginning with that date as may be prescribed, and ii where a pause order made under section 95(2) of the Pension Schemes Act 2021 and containing a direction under section 95(5)(e) of that Act has effect in relation to that scheme before the last day of the period referred to in sub-paragraph (i), the last day of the period of 3 months beginning with the date on which the pause order ceases to have effect. . Section 95(2) was substituted by paragraph 59(2) of Schedule 4 to the Pension Schemes Act 2015 (c. 8) and amended by section 76(4) of the Pension Schemes Act 2021 (c. 1) Reg. 33 in operation at 26.1.2024, see reg. 1
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<dc:title>The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024</dc:title>
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<dc:description>These Regulations revoke and re-enact the Occupational Pension Schemes (Collective Money Purchase Schemes) (No. 2) Regulations (Northern Ireland) 2023 (“the Collective Money Purchase Schemes Regulations”) which would otherwise cease to have effect by virtue of section 112(3)(b) of the Pensions (No. 2) Act (Northern Ireland) 2008, section 51(3)(b) of the Pensions Act (Northern Ireland) 2015 and section 102(5)(b) of the Pension Schemes Act 2021 (“the 2021 Act”). Like the Collective Money Purchase Schemes Regulations, the Regulations implement the new authorisation and supervisory regime for collective money purchase schemes under Part 2 of the 2021 Act. They also make provision for amendments to subordinate legislation in relation to schemes providing collective money purchase benefits.</dc:description>
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<Title id="p00173">Triggering events and continuity options</Title>
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<Title>Pause orders</Title>
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33
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Where a pause order containing a direction under section 95(5)(e) of the 2021 Act (pause orders) has effect in respect of a scheme, section 95
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of the 1993 Act (trustees’ duties after exercise of option) has effect in relation to that scheme as if for subsection (2)(c) of section 95 there were substituted—
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<Text>where a pause order made under section 95(2) of the Pension Schemes Act 2021 and containing a direction under section 95(5)(e) of that Act has effect in relation to that scheme before the last day of the period referred to in sub-paragraph (i), the last day of the period of 3 months beginning with the date on which the pause order ceases to have effect.</Text>
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Section 95(2) was substituted by paragraph 59(2) of Schedule 4 to the Pension Schemes Act
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and amended by section 76(4) of the Pension Schemes Act
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Reg. 33 in operation at 26.1.2024, see
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