PART 2Collective money purchase benefits: Northern Ireland
Authorisation criteria
I1I266Communication requirement
1
This section applies for the purposes of enabling the Pensions Regulator to decide whether it is satisfied that a collective money purchase scheme has adequate systems and processes for communicating with members and others (see section 60(3)(d)).
2
In order to be satisfied that a scheme has adequate systems and processes for communicating with members and others, the Pensions Regulator must be satisfied that the scheme has adequate systems and processes—
a
for providing information in relation to the scheme to persons falling within subsection (3);
b
for securing that information provided to those persons is correct and is not misleading.
3
A person falls within this subsection if the person is—
a
a member or prospective member of the scheme, or
b
a person who has survived a member of the scheme and has an entitlement to benefits, or a right to future benefits, under the scheme rules in respect of the member.
4
In making the decision, the Pensions Regulator—
a
must take into account any matters specified in regulations made by the Department, and
b
may take into account any communications made using the systems and processes referred to in subsection (2).
5
Regulations under subsection (4)(a) may among other things—
a
make provision about systems and processes used for assessing and improving the effectiveness of communications;
b
make provision requiring specified information to be provided to the Pensions Regulator.
6
Regulations under subsection (4)(a) are subject to confirmatory procedure.