Chwilio Deddfwriaeth

The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024

Status:

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

PART 1Information required on application for authorisation

1.  The other information to be included in an application, in relation to whether the scheme is financially sustainable, is—

(a)in relation to whether the scheme has sufficient financial resources to meet the costs mentioned in section 65(2)(a) of the 2021 Act (financial sustainability requirement)—

(i)an estimate of the cost of setting up the scheme;

(ii)an estimate of the cost of running the scheme, in accordance with any requirements set out in a Code;

(iii)details of the scheme’s sources of income including estimates of the amount of income from each source, in accordance with any requirements set out in a Code;

(iv)the trustees’ strategy for meeting any shortfall between the scheme’s income and the costs mentioned in section 65(2)(a) of the 2021 Act;

(v)an explanation of how any estimates provided have been calculated and of the assumptions used in reaching those estimates;

(vi)an explanation of the circumstances in which, and the extent to which, the scheme’s actual costs and income may vary from the estimates provided and any measures in place to address such variations;

(vii)where one or more employers in relation to the scheme has agreed to fund any of the costs mentioned in section 65(2)(a) of the 2021 Act, the following financial information in respect of each such employer to the extent it is available—

(aa)a cash flow statement for the previous 12 months, including any undrawn overdraft facility or revolving credit facility;

(bb)forecast and actual profit and loss for the previous 12 months;

(cc)budget for the year to date and any variation from that budget;

(dd)cash resources;

(ee)cash flow forecast for each of the following 4 quarters;

(ff)operating costs;

(gg)inter-company loans and other forms of funding;

(hh)the employer’s most recent accounts;

(ii)such further information, concerning the financial position of the employer, as is set out in a Code;

(viii)details of any financing arrangements entered into by the trustees in respect of the costs mentioned in section 65(2)(a) of the 2021 Act;

(ix)details of the security and enforceability of any loans or other funding commitments provided to the trustees in respect of the scheme, including the reasons why the trustees consider these commitments to be secure and enforceable;

(x)where the scheme has any arrangements with service providers that meet the description in paragraph 2(i), details of the matters set out in that paragraph in respect of each arrangement;

(xi)details of any insurance held in respect of the scheme, in respect of the costs mentioned in section 65(2)(a) of the 2021 Act, including details of the matters set out in paragraph 2(j);

(b)in relation to whether the scheme has sufficient financial resources to meet the costs mentioned in section 65(2)(b) of the 2021 Act—

(i)an estimate of the costs mentioned in section 65(2)(b)(i) of the 2021 Act;

(ii)an estimate of the costs mentioned in section 65(2)(b)(ii) of the 2021 Act;

(iii)the trustees’ strategy for meeting the costs mentioned in section 65(2)(b) of the 2021 Act;

(iv)the amount and classes of assets held by, or that will be available to, the trustees to meet those costs;

(v)an explanation of how any estimates provided have been calculated and of the assumptions used in reaching those estimates;

(vi)where one or more employers in relation to the scheme has agreed to fund any of the costs mentioned in section 65(2)(b) of the 2021 Act, the following financial information in respect of each employer to the extent it is available—

(aa)a cash flow statement for the previous 12 months, including any undrawn overdraft facility or revolving credit facility;

(bb)forecast and actual profit and loss for the previous 12 months;

(cc)budget for the year to date and any variation from that budget;

(dd)cash resources;

(ee)cash flow forecast for each of the following 4 quarters;

(ff)operating costs;

(gg)inter-company loans and other forms of funding;

(hh)the employer’s most recent accounts;

(ii)such further information, concerning the financial position of the employer, as is set out in a Code;

(vii)details of the security and enforceability of any loans or other funding commitments provided to the trustees in respect of the scheme, including the reasons why the trustees consider these commitments to be secure and enforceable;

(viii)details of any insurance held in respect of the scheme in respect of the costs mentioned in section 65(2)(b) of the 2021 Act, including details of the matters set out in paragraph 3(i);

(ix)details of any compensation for which members are eligible in the event of a scheme failure, including details of the matters set out in paragraph 3(k) of this Schedule.

Yn ôl i’r brig

Options/Help

Print Options

Close

Mae deddfwriaeth ar gael mewn fersiynau gwahanol:

Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.

Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.

Close

Dewisiadau Agor

Dewisiadau gwahanol i agor deddfwriaeth er mwyn gweld rhagor o gynnwys ar y sgrin ar yr un pryd

Close

Memorandwm Esboniadol

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.

Close

Rhagor o Adnoddau

Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:

  • y PDF print gwreiddiol y fel deddfwyd fersiwn a ddefnyddiwyd am y copi print
  • rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
  • manylion rhoi grym a newid cyffredinol
  • pob fformat o’r holl ddogfennau cysylltiedig
  • slipiau cywiro
  • dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill
Close

Rhagor o Adnoddau

Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:

  • y PDF print gwreiddiol y fel gwnaed fersiwn a ddefnyddiwyd am y copi print
  • slipiau cywiro

liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys

  • rhestr o newidiadau a wnaed gan a/neu yn effeithio ar yr eitem hon o ddeddfwriaeth
  • manylion rhoi grym a newid cyffredinol
  • pob fformat o’r holl ddogfennau cysylltiedig
  • dolenni i ddeddfwriaeth gysylltiedig ac adnoddau gwybodaeth eraill