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The Occupational Pension Schemes (Collective Money Purchase Schemes) (No. 2) Regulations (Northern Ireland) 2023 (revoked)

S.R. 2023/117 · Made 27 July 2023 · Extends to Northern Ireland

Up to date with all changes known to legislation.gov.uk, revised to 26 January 2024.

Regulations made by the Department for Communities and laid before the Assembly under section 112(3) and (4)(a) of the Pensions (No. 2) Act (Northern Ireland) 2008, section 51(3) and (4)(e) and (g) of the Pensions Act (Northern Ireland) 2015 and section 102(5) of the Pension Schemes Act 2021 for approval of the Assembly before the expiration of six months from the date of their coming into operation

Pensions

Made 27th July 2023

Coming into operation 28th July 2023

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Annotations to the whole text

Textual amendments

F1

Regulations revoked (26.1.2024) by The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024 (S.R. 2024/15), regs. 1, 36

Contents

  1. Part 1: Preliminary provisions Repealed
  2. 1Citation and commencement Repealed
  3. 2Interpretation and notices Repealed
  4. 3Connected employers Repealed
  5. Part 2: Schemes divided into sections Repealed
  6. 4Qualifying schemes Repealed
  7. 5Schemes divided into sections Repealed
  8. Part 3: Authorisation Repealed
  9. 6Authorisation: contents Repealed
  10. 7Application for authorisation: fee Repealed
  11. 8Fit and proper persons requirement Repealed
  12. 9Scheme design requirement Repealed
  13. 10Viability report Repealed
  14. 11Viability certificate Repealed
  15. 12Financial sustainability requirement Repealed
  16. 13Communication requirement Repealed
  17. 14Systems and processes requirement Repealed
  18. 15Continuity strategy: contents Repealed
  19. 16Continuity strategy: administration charges Repealed
  20. Part 4: Valuation and benefit adjustment Repealed
  21. 17Calculation of benefits Repealed
  22. 18Advice of scheme actuary Repealed
  23. 19Actuarial valuations Repealed
  24. 20Reporting requirements relating to benefit adjustments Repealed
  25. 21Powers of the Regulator Repealed
  26. Part 5: Ongoing supervision Repealed
  27. 22Supervisory return: contents Repealed
  28. 23Significant events Repealed
  29. 24Risk notices Repealed
  30. Part 6: Triggering events and continuity options Repealed
  31. 25Triggering events: notification requirements Repealed
  32. 26Implementation strategy: approval Repealed
  33. 27Implementation strategy: charges Repealed
  34. 28Implementation strategy: content Repealed
  35. 29Continuity option 1: discharge of liabilities and winding up Repealed
  36. 30Continuity option 2: resolving the triggering event Repealed
  37. 31Continuity option 3: conversion to closed scheme Repealed
  38. 32Periodic reporting requirement Repealed
  39. 33Pause orders Repealed
  40. 34Administration charges during a triggering event period Repealed
  41. Part 7: Collective money purchase benefits – amendments to subordinate legislation Repealed
  42. 35Collective money purchase benefits – amendments to subordinate legislation Repealed
  43. Part 8: Revocations Repealed
  44. 36Revocations Repealed
  45. Signature
  46. Schedule 1: Fit and proper persons requirement Repealed
  47. 1Paragraph 1 Repealed
  48. 2Paragraph 2 Repealed
  49. 3Paragraph 3 Repealed
  50. Schedule 2: Scheme design requirement Repealed
  51. Part 1: Matters that the Regulator must take into account Repealed
  52. 1Paragraph 1 Repealed
  53. Part 2: Viability report Repealed
  54. Preliminary Repealed
  55. 2Paragraph 2 Repealed
  56. General Repealed
  57. 3Paragraph 3 Repealed
  58. 4Paragraph 4 Repealed
  59. 5Paragraph 5 Repealed
  60. 6Paragraph 6 Repealed
  61. 7Paragraph 7 Repealed
  62. Information about the design of the scheme Repealed
  63. 8Paragraph 8 Repealed
  64. 9Paragraph 9 Repealed
  65. Part 3: Viability certificate Repealed
  66. 10Paragraph 10 Repealed
  67. 11Paragraph 11 Repealed
  68. 12Paragraph 12 Repealed
  69. 13Paragraph 13 Repealed
  70. 14Paragraph 14 Repealed
  71. Schedule 3: Financial sustainability requirement Repealed
  72. Part 1: Information required on application for authorisation Repealed
  73. 1Paragraph 1 Repealed
  74. Part 2: Matters which the Regulator must take into account Repealed
  75. 2Paragraph 2 Repealed
  76. 3Paragraph 3 Repealed
  77. Part 3: Requirements to be met by the collective money purchase scheme Repealed
  78. 4Paragraph 4 Repealed
  79. Schedule 4: Communication requirement Repealed
  80. Interpretation Repealed
  81. 1Paragraph 1 Repealed
  82. Preliminary Repealed
  83. 2Paragraph 2 Repealed
  84. Functionality, quality and maintenance of IT systems Repealed
  85. 3Paragraph 3 Repealed
  86. Resource planning Repealed
  87. 4Paragraph 4 Repealed
  88. Quality assurance Repealed
  89. 5Paragraph 5 Repealed
  90. Member engagement Repealed
  91. 6Paragraph 6 Repealed
  92. Schedule 5: Systems and processes requirement Repealed
  93. Preliminary Repealed
  94. 1Paragraph 1 Repealed
  95. Features and functionality of IT systems Repealed
  96. 2Paragraph 2 Repealed
  97. Standards required of IT systems Repealed
  98. 3Paragraph 3 Repealed
  99. Maintenance of IT systems Repealed
  100. 4Paragraph 4 Repealed
  101. Member records Repealed
  102. 5Paragraph 5 Repealed
  103. Trustees and others Repealed
  104. 6Paragraph 6 Repealed
  105. Contracts and service providers Repealed
  106. 7Paragraph 7 Repealed
  107. Governance Repealed
  108. 8Paragraph 8 Repealed
  109. Risk management Repealed
  110. 9Paragraph 9 Repealed
  111. Security Repealed
  112. 10Paragraph 10 Repealed
  113. Resource planning Repealed
  114. 11Paragraph 11 Repealed
  115. Investments Repealed
  116. 12Paragraph 12 Repealed
  117. Valuation and benefit adjustment Repealed
  118. 13Paragraph 13 Repealed
  119. Member engagement Repealed
  120. 14Paragraph 14 Repealed
  121. Schedule 6: Continuity Option 1: transfer out and winding up Repealed
  122. Definitions Repealed
  123. 1Paragraph 1 Repealed
  124. Alternative ways of discharging the scheme’s liability Repealed
  125. 2Paragraph 2 Repealed
  126. Requirements of rules of scheme Repealed
  127. 3Paragraph 3 Repealed
  128. Winding-up commencement time Repealed
  129. 4Paragraph 4 Repealed
  130. Quantification of the value of beneficiaries’ accrued rights to benefits Repealed
  131. 5Paragraph 5 Repealed
  132. Winding-up period Repealed
  133. 6Paragraph 6 Repealed
  134. Periodic income Repealed
  135. 7Paragraph 7 Repealed
  136. Information about periodic income Repealed
  137. 8Paragraph 8 Repealed
  138. Scheme to continue to be a CMPS during winding-up Repealed
  139. 9Paragraph 9 Repealed
  140. Trustees’ notice to employers Repealed
  141. 10Paragraph 10 Repealed
  142. Notification to receiving scheme Repealed
  143. 11Paragraph 11 Repealed
  144. Trustees’ first notice to beneficiaries in respect of discharge options Repealed
  145. 12Paragraph 12 Repealed
  146. Trustees’ second notice to beneficiaries in respect of discharge options Repealed
  147. 13Paragraph 13 Repealed
  148. Beneficiaries’ response to trustees Repealed
  149. 14Paragraph 14 Repealed
  150. Notice of expected discharge time Repealed
  151. 15Paragraph 15 Repealed
  152. Trustees’ powers Repealed
  153. 16Paragraph 16 Repealed
  154. Trustees’ duty to transfer Repealed
  155. 17Paragraph 17 Repealed
  156. Administration charges Repealed
  157. 18Paragraph 18 Repealed
  158. Trustee discharge Repealed
  159. 19Paragraph 19 Repealed
  160. Winding up Repealed
  161. 20Paragraph 20 Repealed
  162. Regulator’s power to direct Repealed
  163. 21Paragraph 21 Repealed
  164. Civil penalties Repealed
  165. 22Paragraph 22 Repealed
  166. Schedule 7: Collective money purchase benefits: amendments to subordinate legislation Repealed
  167. 1Amendments to the Occupational Pension Schemes (Scheme Administration) Regulations Repealed
  168. 2Amendment of the Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations Repealed
  169. 3Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  170. 4Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  171. 5Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  172. 6Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  173. 7Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  174. 8Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  175. 9Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  176. 10Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  177. 11Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  178. 12Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  179. 13Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  180. 14Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  181. 15Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  182. 16Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  183. 17Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  184. 18Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  185. 19Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  186. 20Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  187. 21Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  188. 22Amendments to the Occupational Pension Schemes (Charges and Governance) Regulations Repealed
  189. Explanatory note