Chwilio Deddfwriaeth

The Pensions Dashboards Regulations (Northern Ireland) 2022

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

Early or voluntary connection

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16.—(1) Where trustees or managers—

(a)wish to connect a pension scheme to the Money and Pensions Service earlier than the start of the connection window for the scheme as provided for in regulation 15(3), or

(b)wish to connect a pension scheme to the Money and Pensions Service on a voluntary basis in circumstances where the scheme has fewer than 100 relevant members,

they must apply to the Money and Pensions Service for permission for the pension scheme to connect to the Money and Pensions Service early or on a voluntary basis.

(2) When applying for permission to connect under paragraph (1), trustees or managers must have regard to guidance on early or voluntary connection issued from time to time by the Money and Pensions Service.

(3) Subject to consultation with the Regulator, except where the Money and Pensions Service and the Regulator agree that such consultation is not needed, the Money and Pensions Service may grant permission for early or voluntary connection by such a date as the Money and Pensions Service considers appropriate (referred to in this regulation as the “agreed deadline”).

(4) Where permission is granted for early or voluntary connection under paragraph (3)—

(a)the agreed deadline remains fixed, even if there is a change in the classification of the scheme type or in its size, unless—

(i)permission to defer connection is given under regulation 17, or

(ii)all the members of the scheme become pensioner members;

(b)the connection window for the scheme is—

(i)in the case of schemes connecting early, the period beginning one month before the agreed deadline and ending with the staging deadline that would have applied to the scheme under regulation 15(2)(a) if permission to connect early had not been applied for;

(ii)in the case of schemes connecting on a voluntary basis, the period of one month leading up to and including the agreed deadline.

(5) Once permission to connect early or on a voluntary basis has been granted under paragraph (4), trustees or managers must—

(a)register the scheme with the Money and Pensions Service, having regard to the guidance referred to in regulation 15(2)(d);

(b)connect the pension scheme to the Money and Pensions Service within the connection window referred to in paragraph (4)(b), in compliance with the standards referred to in regulation 15(2)(c) and having regard to the guidance referred to in regulation 15(2)(d);

(c)meet the requirements in regulation 15(4) and (5).

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