Pension Schemes Act (Northern Ireland) 2021

The Pensions (Northern Ireland) Order 2005 (NI 1) N.I.

5.  The 2005 Order is amended as follows. N.I.

Modifications etc. (not altering text)

C1 Sch. 3 para. 5 transitional provision for commencement by 2021 c. 6 (N.I.), s. 44(1)(a)(b) (11.8.2021) by The Pension Schemes (2021 Act) (Commencement No. 1 and Transitional Provisions) Order (Northern Ireland) 2021 (S.R. 2021/234), art. 3

Commencement Information

I1 Sch. 3 para. 5 in operation at 10.8.2021 for specified purposes, see s. 44(1)(a)(v)

I2 Sch. 3 para. 5 in operation at 10.8.2021, see s. 44(1)(c)

I3 Sch. 3 para. 5 in operation at 13.9.2021 for specified purposes by S.R. 2021/234, art. 2(b)

6.  In Article 2(4) (interpretation: scheme rules)— N.I.

(a) in sub-paragraph (a), at the end add—

“(xii) sections 21, 23, 26, 28, 29 and 33 of and Schedule 1 to the Pension Schemes Act (Northern Ireland) 2021;”;

(b) in sub-paragraph (b), at the end add—

“(ix) sections 21(7), 23(7), 26(9), 28(6), 29(2) and 33(5) of and paragraph 1(7) of Schedule 1 to the Pension Schemes Act (Northern Ireland) 2021.”.

Commencement Information

I4 Sch. 3 para. 6 in operation at 10.8.2021, see s. 44(1)(c)

7.  In Article 9 (improvement notices), in paragraph (7) (meaning of “pensions legislation”)— N.I.

(a) in the opening words, after “by virtue of” insert “any of the following”;

(b) at the end add

“, or

(i) Part 1 of the Pension Schemes Act (Northern Ireland) 2021.”.

Commencement Information

I5 Sch. 3 para. 7 not in operation at Royal Assent, see s. 44(2)

I6 Sch. 3 para. 7 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I7 Sch. 3 para. 7 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

8.  In Article 65 (duty to report breaches of the law) in paragraph (1), at the end add— N.I.

“(f) a scheme strategist or scheme funder of a Master Trust scheme within the meaning of Part 1 of the Pension Schemes Act (Northern Ireland) 2021 (see section 39 of that Act).”.

Commencement Information

I8 Sch. 3 para. 8 not in operation at Royal Assent, see s. 44(2)

I9 Sch. 3 para. 8 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I10 Sch. 3 para. 8 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

9.  In Article 67 (provision of information), in paragraph (1A), after “2008” insert “or Part 1 of the Pension Schemes Act (Northern Ireland) 2021”. N.I.

Modifications etc. (not altering text)

C2 Sch. 3 para. 9 transitional provision for commencement by 2021 c. 6 (N.I.), s. 44(1)(a)(b) (11.8.2021) by The Pension Schemes (2021 Act) (Commencement No. 1 and Transitional Provisions) Order (Northern Ireland) 2021 (S.R. 2021/234), art. 3

Commencement Information

I11 Sch. 3 para. 9 in operation at 10.8.2021 for specified purposes, see s. 44(1)(a)(v)

I12 Sch. 3 para. 9 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I13 Sch. 3 para. 9 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

10.  In Article 68 (inspection of premises), in paragraph (2) before sub-paragraph (e) insert— N.I.

“(dc) the Pension Schemes Act (Northern Ireland) 2021;”.

Commencement Information

I14 Sch. 3 para. 10 not in operation at Royal Assent, see s. 44(2)

I15 Sch. 3 para. 10 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I16 Sch. 3 para. 10 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

11.  In Article 72A (fixed penalty notices), in paragraph (6) after “2008” insert “or section 17 of the Pension Schemes Act (Northern Ireland) 2021”. N.I.

Commencement Information

I17 Sch. 3 para. 11 not in operation at Royal Assent, see s. 44(2)

I18 Sch. 3 para. 11 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I19 Sch. 3 para. 11 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

12.  In Article 72B (escalating penalty notices), in paragraph (8) after “2008” insert “or section 18 of the Pension Schemes Act (Northern Ireland) 2021”. N.I.

Commencement Information

I20 Sch. 3 para. 12 not in operation at Royal Assent, see s. 44(2)

I21 Sch. 3 para. 12 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I22 Sch. 3 para. 12 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

13.  In Article 75 (offences of providing false or misleading information), in paragraph (1)(c)— N.I.

(a) omit the “or” at the end of head (iv); and

(b) in head (v), at the end add

“, or

(vi) the Pension Schemes Act (Northern Ireland) 2021.”.

Commencement Information

I23 Sch. 3 para. 13 not in operation at Royal Assent, see s. 44(2)

I24 Sch. 3 para. 13 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I25 Sch. 3 para. 13 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

14.  In Article 75A (financial penalty for providing false or misleading information to Regulator), in paragraph (2)(c)— N.I.

(a) omit the “or” at the end of head (iv); and

(b) in head (v), at the end add

“, or

(vi) the Pension Schemes Act (Northern Ireland) 2021.”.

Commencement Information

I26 Sch. 3 para. 14 not in operation at Royal Assent, see s. 44(2)

I27 Sch. 3 para. 14 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I28 Sch. 3 para. 14 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

15.—(1) Article 85 (codes of practice) is amended as follows. N.I.

(2) In paragraph (2) (matters on which the Pensions Regulator must issue codes of practice), before sub-paragraph (k) insert—

“(jc) the process for making an application for authorisation of a Master Trust scheme under Part 1 of the Pension Schemes Act (Northern Ireland) 2021;

(jd) the matters that the Regulator expects to take into account in deciding whether it is satisfied that a Master Trust scheme meets the authorisation criteria under that Part (see section 5 of the Pension Schemes Act (Northern Ireland) 2021);”.

(3) In paragraph (6), in the definition of “the pensions legislation” at the end add

“, or

(h)

the Pension Schemes Act (Northern Ireland) 2021.”.

Commencement Information

I29 Sch. 3 para. 15 not in operation at Royal Assent, see s. 44(2)

I30 Sch. 3 para. 15 in operation at 13.9.2021 by S.R. 2021/234, art. 2(c)

16.  In Article 88(2) (“regulatory functions” of the Regulator subject to procedure), before sub-paragraph (q) insert— N.I.

“(pe) the power to give a direction under section 26(7) of the Pension Schemes Act (Northern Ireland) 2021 (direction to submit implementation strategy), and”.

Commencement Information

I31 Sch. 3 para. 16 not in operation at Royal Assent, see s. 44(2)

I32 Sch. 3 para. 16 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I33 Sch. 3 para. 16 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

17.  In Article 92(5) (special procedure: applicable cases), before sub-paragraph (u) insert— N.I.

“(tg) the power to withdraw authorisation of a Master Trust scheme under section 19 of the Pension Schemes Act (Northern Ireland) 2021;

(th) the power to make a pause order under section 31 of that Act;

(ti) the power to make an order under paragraph 2(2) of Schedule 1 to that Act extending the period for which a pause order has effect;

(tj) the power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order;

(tk) the power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers;”.

Commencement Information

I34 Sch. 3 para. 17 not in operation at Royal Assent, see s. 44(2)

I35 Sch. 3 para. 17 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I36 Sch. 3 para. 17 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

18.  In Schedule 1 (the Pensions Regulator), in Part 1 (delegation), in paragraph 2(2), after head (o) add— N.I.

“(p) the power to issue a fixed penalty notice under section 17 of thePension Schemes Act (Northern Ireland) 2021;

(q) the power to issue an escalating penalty notice under section 18 of that Act.”.

Commencement Information

I37 Sch. 3 para. 18 not in operation at Royal Assent, see s. 44(2)

I38 Sch. 3 para. 18 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I39 Sch. 3 para. 18 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)

19.  In Schedule 2 (functions exercisable by the Determinations Panel), before Part 5 insert— N.I.

“PART 4B N.I. Functions Under The Pension Schemes Act (Northern Ireland) 2021

44I.   The power to withdraw authorisation of a Master Trust scheme under section 19.

44J.   The power to give a direction under section 28(4) (direction to pursue continuity option).

44K.   The power to make a pause order under section 31.

44L.   The power to make an order under paragraph 2(2) of Schedule 1 extending the period for which a pause order has effect.

44M.   The power to make an order under paragraph 3 of that Schedule validating action taken in contravention of a pause order.

44N.   The power to make an order under paragraph 4(3) of that Schedule directing the notification of members or employers.

44O.   Terms used in this Part have the same meaning as in Part 1 of the Pension Schemes Act (Northern Ireland) 2021.”.

Commencement Information

I40 Sch. 3 para. 19 not in operation at Royal Assent, see s. 44(2)

I41 Sch. 3 para. 19 in operation at 16.3.2022 for specified purposes by S.R. 2022/110, art. 2(a)

I42 Sch. 3 para. 19 in operation at 6.4.2022 in so far as not already in operation by S.R. 2022/110, art. 2(b)