Chwilio Deddfwriaeth

The Pensions (2012 Act) (Transitional, Consequential and Supplementary Provisions) Regulations (Northern Ireland) 2014

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Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).

Provision of information: schemes and benefits treated as money purchase

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45.—(1) This regulation applies—

(a)in the case of a scheme which is an eligible scheme on the appointed day, where the trustees or managers of the scheme have, before the appointed day, excluded liabilities relating to benefits which are not money purchase benefits from a valuation under Article 162 of the 2005 Order because those liabilities were treated as if they related to money purchase benefits, or

(b)where the trustees or managers of a scheme which includes liabilities relating to benefits which are not money purchase benefits have not, before the appointed day, carried out valuations under Article 162 of the 2005 Order because they treated the scheme as if it were a money purchase scheme.

(2) Where this regulation applies, the trustees or managers of the scheme must, on or before 31st March 2015, inform the Regulator that the scheme includes benefits which are not money purchase benefits but have been treated as money purchase benefits.

(3) Where—

(a)paragraph (1)(a) applies, and

(b)the scheme is an eligible scheme on the appointed day,

the Board, or the Regulator on the Board’s behalf, may direct the trustees or managers of the scheme to provide any information or documents relevant to the calculation of the levies in relation to the scheme.

(4) Information or documents relevant to the calculation of the levies includes, in particular—

(a)accounts in relation to the scheme;

(b)actuarial reports in relation to the scheme, and

(c)actuarial valuations in relation to the scheme.

(5) The Board or the Regulator on the Board’s behalf may revoke or vary any direction given under paragraph (3).

(6) Where a direction under paragraph (3) given to the trustees or managers of a scheme is not complied with, Article 10(1) of the 1995 Order (civil penalties) applies to any trustee or manager who has failed to take all reasonable steps to secure compliance with the direction.

(1)

Article 10 was amended by paragraph 9 of Schedule 2 to the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11)) and by Schedule 12 to the Pensions (Northern Ireland) Order 2005

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