Explanatory Memorandum

Pension Schemes Act (Northern Ireland) 2016

2016 CHAPTER 1

15 January 2016

Commentary on Sections

Part 2 – Collective Benefits

Section 10: Policy about factors used to determine each benefitSection 11: Power to impose requirements about factors used to determine each benefit

Section 10 provides that regulations may require trustees or managers to have a policy on the factors used to calculate members’ benefits and to implement that policy.  Section 11 allows the Department to prescribe requirements about the factors to be used.