The Pension Protection Fund (Miscellaneous Amendments) Regulations (Northern Ireland) 2012

Amendment of the Pension Protection Fund (Provision of Information) Regulations

4.  In Schedule 2 to the Pension Protection Fund (Provision of Information) Regulations (Northern Ireland) 2005(1) (information to be provided by trustees or managers)—

(a) in paragraph 1(1)—

(i) before the definition of “hybrid scheme” insert—

““determination” means a determination made by the Board under Article 127(2)(a);

“determination summary” means, in relation to each member of the scheme, a summary of the determination which contains—

(a)

a summary of the overall assets and liabilities of the scheme;

(b)

details of how that member’s entitlement to compensation would be calculated if the Board assumed responsibility for the scheme;

(c)

details of any information the Board holds on that member’s pensionable service and accrued rights;

(d)

where there is a pension in payment to that member at the assessment date(2), the annual amount of that pension; and

(e)

a statement describing how an application may be made to the Board for the review of the determination, how it will be considered and the Board’s powers on making a review decision;”;

(ii) in the definition of “valuation” in paragraph (a)(i) for “Article 127” substitute “Article 127(2)(b)”;

(b) in paragraph 1(2) in the Table(3) after the fourteenth entry insert—

“Where the scheme is not a hybrid scheme, a multi-employer scheme or a partially guaranteed scheme, all members.	A copy of the determination summary.	The period of 28 days beginning on the day on which the trustees or managers receive a copy of the determination.
Where the scheme is a hybrid scheme, all members other than those who receive only money purchase benefits.	A copy of the determination summary.	The period of 28 days beginning on the day on which the trustees or managers receive a copy of the determination.
Where the scheme is a multi-employer scheme, all members who are in the section of the scheme to which the determination relates.	A copy of the determination summary.	The period of 28 days beginning on the day on which the trustees or managers receive a copy of the determination.
Where the scheme is a partially guaranteed scheme, all members who are in the unsecured part of the scheme.	A copy of the determination summary.	The period of 28 days beginning on the day on which the trustees or managers receive a copy of the determination.”

(1)

S.R. 2005 No. 129; relevant amending Regulations are S.R. 2005 No. 357 and S.R. 2006 No. 140

(2)

The definition of “the assessment date” was inserted into regulation 2(1) by regulation 5(2)(a)(i) of S.R. 2005 No. 357

(3)

The Table was amended by regulation 2(4)(b) of S.R. 2006 No. 140