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The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations (Northern Ireland) 2026

S.R. 2026/151 · Made 30 July 2026 · Extends to Northern Ireland

Up to date with all changes known to legislation.gov.uk, revised to 31 July 2026.

Regulations made by the Department for Communities and laid before the Assembly under 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 30th July 2026

Coming into operation 31st July 2026

The Department for Communities makes the following Regulations in exercise of the powers conferred by sections 54(8), 56(2), 59(4), 62(2)(e) and (3)(a), 63(2)(b), 64(3), 65(3), 66(4)(a), 67(2), 68(5), 69(4), 70(2) and (3), 71(5), 73(3)(b), 74(3)(c), 78(2), 79(3) and (4), 80(10), 84(4)(b), 87(1)(c), (2)(b) and (c), (5) and (6), 88(3)(b), 89(3), 90(1)(b), 91(4) and (6), 94(2) and (4)(b) and (c), 96(3), 98, 100(2)(b) and 102(2) and (3) of the Pension Schemes Act 2021f1.

Annotations to the whole text

Footnotes

f1

2021 c. 1

Contents

  1. Part 1: Preliminary Provisions
  2. 1Citation, commencement and interpretation
  3. Part 2: Amendment of the Pension Schemes Act 2021
  4. 2Amendment of the Pension Schemes Act 2021
  5. 3Extension of definition of qualifying schemes
  6. 4Application for authorisation: unconnected multiple employer schemes
  7. 5Authorisation criteria: unconnected multiple employer schemes
  8. 6Failure of unconnected multiple employer schemes to commence operation
  9. 7Fit and proper persons requirement: unconnected multiple employer schemes
  10. 8Viability report: unconnected multiple employer schemes
  11. 9Financial sustainability requirement - business strategy: unconnected multiple employer schemes
  12. 10Financial sustainability, scheme proprietor and promotion or marketing requirements: unconnected multiple employer schemes
  13. 11Continuity strategy requirement - scheme proprietor: unconnected multiple employer schemes
  14. 12Ability to pursue continuity option 3: unconnected multiple employer schemes
  15. 13Requirement to submit annual accounts: unconnected multiple employer schemes
  16. 14Notification of significant events: unconnected multiple employer schemes
  17. 15Risk notices - scheme proprietor: unconnected multiple employer schemes
  18. 16Triggering events and related amendments: unconnected multiple employer schemes
  19. 17References to relevant former employers
  20. 18Notification of triggering events: unconnected multiple employer schemes
  21. 19Approval of implementation strategy: unconnected multiple employer schemes
  22. 20Powers to extend definition of qualifying schemes: regulations about unconnected multiple employer schemes
  23. 21Interpretation of Part 2 of the Pension Schemes Act 2021
  24. 22Index of defined expressions
  25. 23New Schedules - scheme proprietor accounts etc, business strategy, business plan and promotion or marketing: unconnected multiple employer schemes
  26. Part 3: Meaning of “connected”
  27. 24Connected employers
  28. Part 4: Unconnected Multiple Employer Schemes
  29. Chapter 1: Preliminary Provisions
  30. 25Application
  31. 26Interpretation and notices
  32. Chapter 2: Schemes Divided into Sections
  33. 27Qualifying schemes
  34. 28Schemes divided into sections
  35. Chapter 3: Authorisation
  36. 29Application for authorisation: contents
  37. 30Application for authorisation: fee
  38. 31Fit and proper persons requirement
  39. 32Scheme design requirement
  40. 33Viability report
  41. 34Viability certificate
  42. 35Financial sustainability requirement
  43. 36Communication requirement
  44. 37Systems and processes requirement
  45. 38Continuity strategy: contents
  46. 39Continuity strategy: administration charges
  47. Chapter 4: Valuation and Benefit Adjustment
  48. 40Calculation of benefits
  49. 41Advice of scheme actuary
  50. 42Actuarial valuations
  51. 43Reporting requirements relating to benefit adjustments
  52. 44Powers of the Pensions Regulator
  53. Chapter 5: Ongoing Supervision
  54. 45Supervisory return: contents
  55. 46Significant events
  56. 47Risk notices
  57. Chapter 6: Triggering Events and Continuity Options
  58. 48Triggering events: notification requirements
  59. 49Implementation strategy: approval
  60. 50Implementation strategy: charges
  61. 51Implementation strategy: content
  62. 52Continuity option 1: discharge of liabilities and winding up
  63. 53Continuity option 2: resolving the triggering event
  64. 54Continuity option 3: conversion to closed scheme
  65. 55Periodic reporting requirement
  66. 56Pause orders
  67. 57Administration charges during a triggering event period
  68. Part 5: Amendment of the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024
  69. 58Amendment of the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024
  70. Part 6: Consequential amendments
  71. 59Amendment of the Pension Schemes (Northern Ireland) Act 1993
  72. 60Amendment of the Pensions (Northern Ireland) Order 1995
  73. 61Amendment of the Pensions (Northern Ireland) Order 2005
  74. 62Amendment of the Pension Schemes Act (Northern Ireland) 2021
  75. 63Collective money purchase schemes - amendments to secondary legislation
  76. Signature
  77. Schedule 1: Fit and proper persons requirement
  78. 1Paragraph 1
  79. 2Paragraph 2
  80. 3Paragraph 3
  81. Schedule 2: Scheme design requirement
  82. Part 1: Matters that the Pensions Regulator must take into account
  83. 1Paragraph 1
  84. Part 2: Information that must be included in a viability report
  85. General
  86. 2Paragraph 2
  87. 3Paragraph 3
  88. 4Paragraph 4
  89. 5Paragraph 5
  90. 6Paragraph 6
  91. 7Paragraph 7
  92. Information about the design of the scheme
  93. 8Paragraph 8
  94. 9Paragraph 9
  95. Part 3: Information that must be included in a viability certificate
  96. 10Paragraph 10
  97. 11Paragraph 11
  98. 12Paragraph 12
  99. 13Paragraph 13
  100. Schedule 3: Financial sustainability requirement
  101. Part 1: Information required on application for authorisation
  102. 1Paragraph 1
  103. Part 2: Matters which the Pensions Regulator must take into account
  104. 2Paragraph 2
  105. 3Paragraph 3
  106. Part 3: Requirements to be met by the unconnected multiple employer scheme
  107. 4Paragraph 4
  108. Schedule 4: Communication requirement
  109. Part 1: Interpretation
  110. 1Paragraph 1
  111. Part 2: Matters that the Pensions Regulator must take into account
  112. Functionality, quality and maintenance of IT systems
  113. 2Paragraph 2
  114. Resource planning
  115. 3Paragraph 3
  116. Quality assurance
  117. 4Paragraph 4
  118. Member engagement
  119. 5Paragraph 5
  120. Schedule 5: Systems and processes requirement - matters that the Pensions Regulator must take into account
  121. Features and functionality of IT systems
  122. 1Paragraph 1
  123. Standards required of IT systems
  124. 2Paragraph 2
  125. Maintenance of IT systems
  126. 3Paragraph 3
  127. Member records
  128. 4Paragraph 4
  129. Trustees and others
  130. 5Paragraph 5
  131. Contracts and service providers
  132. 6Paragraph 6
  133. Governance
  134. 7Paragraph 7
  135. Risk management
  136. 8Paragraph 8
  137. Security
  138. 9Paragraph 9
  139. Resource planning
  140. 10Paragraph 10
  141. Investments
  142. 11Paragraph 11
  143. Valuation and benefit adjustment
  144. 12Paragraph 12
  145. Member engagement
  146. 13Paragraph 13
  147. Schedule 6: Continuity Option 1: transfer out and winding up
  148. Interpretation and notices
  149. 1Paragraph 1
  150. Alternative ways of discharging the scheme’s liability
  151. 2Paragraph 2
  152. Requirements of rules of scheme
  153. 3Paragraph 3
  154. Winding-up commencement time
  155. 4Paragraph 4
  156. Quantification of the value of beneficiaries’ accrued rights to benefits
  157. 5Paragraph 5
  158. Winding-up period
  159. 6Paragraph 6
  160. Periodic income
  161. 7Paragraph 7
  162. Information about periodic income
  163. 8Paragraph 8
  164. Scheme to continue to be a collective money purchase scheme during winding-up
  165. 9Paragraph 9
  166. Trustees’ notice to employers
  167. 10Paragraph 10
  168. Notice to receiving scheme
  169. 11Paragraph 11
  170. Trustees’ first notice to beneficiaries in respect of discharge options
  171. 12Paragraph 12
  172. Trustees’ second notice to beneficiaries in respect of discharge options
  173. 13Paragraph 13
  174. Beneficiaries’ response to trustees
  175. 14Paragraph 14
  176. Notice of expected discharge time
  177. 15Paragraph 15
  178. Trustees’ powers
  179. 16Paragraph 16
  180. Trustees’ duty to transfer
  181. 17Paragraph 17
  182. Administration charges
  183. 18Paragraph 18
  184. Trustee discharge
  185. 19Paragraph 19
  186. Winding up
  187. 20Paragraph 20
  188. Regulator’s power to direct
  189. 21Paragraph 21
  190. Civil penalties
  191. 22Paragraph 22
  192. Schedule 7: Collective money purchase schemes: amendments to secondary legislation
  193. 1Amendment of the Occupational Pension Schemes (Preservation of Benefit) Regulations
  194. 2Amendment of the Occupational Pension Schemes (Transfer Values) Regulations
  195. 3Amendment of the Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) Regulations
  196. 4Amendment of the Occupational and Personal Pension Schemes (Consultation by Employers) Regulations
  197. 5Amendment of the Occupational Pension Schemes (Modification of Schemes) Regulations
  198. 6Amendment of the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations
  199. Explanatory note