EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations amend the Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997 in relation to certain governance requirements.
Regulation 3 of these Regulations amends the definition of “relevant multi-employer scheme” in regulation 1. It substitutes the definition of “connected employers”, thereby removing the definition of “participating employer” for the purposes of the definition of “relevant multi-employer scheme”.
Regulation 4(a) and (c) of these Regulations amends regulation 22 to disapply the requirement to appoint a chair of the trustees or managers of a scheme established under section 67 of the Pensions Act 2008.
Regulation 5(a) of these Regulations amends regulation 23 to provide for the signing of the annual statement regarding governance in the absence of a chair of the trustees or managers.
Regulation 6 of these Regulations amends regulation 27 concerning the appointment of trustees and provides a further exemption solely from the appointment requirements for schemes established by statute.
Regulations 4(b), 5(b) and 6 of these Regulations also amend regulations 22, 23 and 27 respectively to extend the transitional period for schemes to comply with the governance requirements relating to the appointment of trustees and to clarify the period to be covered in the first governance statement.
Regulation 7 of these Regulations makes a consequential revocation.
The Pensions (2015 Act) (Commencement No. 1) Order (Northern Ireland) 2015 (S.R. 2015 No. 307 (C. 25)) provides for the coming into operation of Schedule 18 to the Pensions Act (Northern Ireland) 2015, some of the enabling provisions under which these Regulations are made, on 16th July 2015.
In so far as these Regulations make in relation to Northern Ireland only provision corresponding to provision contained in regulations made by the Secretary of State for Work and Pensions in relation to Great Britain, the requirement to consult does not apply by virtue of paragraph 8 of Schedule 18 to the Pensions Act (Northern Ireland) 2015.