The Occupational and Personal Pension Schemes (DisclosureofInformation) Regulations (Northern Ireland) 2014

PART 3 N.I. Changes to information

Material alterations to basic scheme information N.I.

8.—(1) The information mentioned in paragraph (2) must be given in accordance with this regulation where—

(a) there is a change in relation to the scheme, and

(b) that change results in a material alteration in the information listed in Part 1 of Schedule 2.

(2) The information is the information referred to in paragraph (1)(b) that has materially changed.

(3) The information must be given to all members and beneficiaries of the scheme, except excluded persons, and to a recognised trade union.

(4) The information must be given before or as soon as practicable after (and in any event within 3 months after) the change referred to in paragraph (1)(a) takes effect.

(5) No information is required to be given under this regulation to—

(a) relevant persons, except a recognised trade union, unless it is relevant to the person’s rights or prospective rights under the scheme, and

(b) a recognised trade union unless—

(i) it is relevant to the rights or prospective rights of persons who are in that recognised trade union, and

(ii) basic scheme information has already been given to the recognised trade union under regulation 6.

[F1 (6) This regulation does not apply where regulation 8A applies.]

Textual Amendments

F1 Reg. 8(6) added (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations (Northern Ireland) 2022 (S.R. 2022/192), regs. 1(1), 13(4)

Commencement Information

I1 Reg. 8 in operation at 6.4.2014, see reg. 1(1)

[F2 Scheme closure: collective money purchase schemes N.I.

8A.— (1) In relation to a collective money purchase scheme, the information specified in paragraphs (2) and (3) must be given in accordance with this regulation.

(2) The information listed in paragraphs 30 to 33 of Schedule 2 must be given as soon as practicable and in any event no more than one month after a decision by the trustees to pursue continuity option 3.

(3) The information listed in paragraphs 34 to 38 of Schedule 2 must be given as soon as is practicable and in any event no more than one month after the date on which the Regulator notifies the trustees in accordance with section 89(4) of the 2021 Act (continuity option 3: conversion to closed scheme).

(4) The information must be given to all members and beneficiaries of the scheme except for excluded persons.

(5) In this regulation, and in Schedule 2, “continuity option 3” is the conversion of the scheme into a closed scheme in accordance with sections 85 (continuity options) and 89 of the 2021 Act and regulations made section 89 of that Act.]

Textual Amendments

F2 Reg. 8A inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations (Northern Ireland) 2022 (S.R. 2022/192), regs. 1(1), 13(5)

Modification by the Regulator N.I.

9.  Active members must be informed of any modification to the scheme by the Regulator under Article 210(2)(a) of the 2005 Order (powers of the Regulator) within one month of the modification taking effect.

Commencement Information

I2 Reg. 9 in operation at 6.4.2014, see reg. 1(1)

Former stakeholder pension schemes N.I.

10.—(1) The information mentioned in paragraph (2) must be given in accordance with this regulation where a scheme is removed from the register of stakeholder pension schemes kept under Article 4(1) of the 1999 Order.

(2) The information is a statement that the scheme—

(a) has been removed from the register;

(b) is no longer a stakeholder pension scheme, and

(c) is required to begin winding up.

(3) The information must be given to members except excluded persons.

(4) The information must be given within no more than 2 weeks of the trustees or managers of the scheme being notified that the scheme has been removed from the register.

Commencement Information

I3 Reg. 10 in operation at 6.4.2014, see reg. 1(1)

(1)

Article 4 was amended by paragraph 67 of Schedule 10, and Schedule 11, to the Pensions (Northern Ireland) Order 2005 and paragraph 38 of Schedule 4 to the Pensions Act (Northern Ireland) 2008