Schedule Schedule to be added to the Occupational and Personal Pension Schemes (General Levy) Regulations (Northern Ireland) 2005

“SCHEDULE

Amount of the general levy

Regulations 5 and 6

PART 1

Occupational pension schemes

1.

(1)

In this Part—

• “defined benefits scheme”, “hybrid scheme” and “money purchase scheme” have the meanings given by section 78 of the Pensions (No. 2) Act (Northern Ireland) 2008^f1”;

• “Master Trust scheme” has the meaning given by section 1 of the Pension Schemes Act 2017^f2 or any corresponding Northern Ireland legislation.

(2)

Where an occupational pension scheme—

(a)

is both a Master Trust scheme and a money purchase scheme, or

(b)

is both a Master Trust scheme and a hybrid scheme,

the scheme shall be treated for the purposes of this Part as a Master Trust scheme.

2.

The following Table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2021.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£32
12 to 99	£3∙17 x M	Not applicable
100 to 999	£2∙29 x M	£310
1,000 to 4,999	£1∙78 x M	£2,290
5,000 to 9,999	£1∙35 x M	£8,900
10,000 to 499,999	£0∙95 x M	£13,500
500,000 or more	£0∙72 x M	£475,000

3.

The following Table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2022.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£54
12 to 99	£5∙33 x M	Not applicable
100 to 999	£3∙85 x M	£530
1,000 to 4,999	£3∙00 x M	£3,850
5,000 to 9,999	£2∙28 x M	£15,000
10,000 to 499,999	£1∙59 x M	£22,800
500,000 or more	£1∙20 x M	£795,000

4.

The following Table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2023.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£64
12 to 99	£6∙34 x M	Not applicable
100 to 999	£4∙58 x M	£630
1,000 to 4,999	£3∙56 x M	£4,580
5,000 to 9,999	£2∙71 x M	£17,800
10,000 to 499,999	£1∙89 x M	£27,100
500,000 or more	£1∙43 x M	£945,000

5.

The following Table relates to money purchase schemes for the financial year beginning with 1st April 2021.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£32
12 to 99	£3∙17 x M	Not applicable
100 to 999	£2∙29 x M	£310
1,000 to 4,999	£1∙78 x M	£2,290
5,000 to 9,999	£1∙35 x M	£8,900
10,000 to 499,999	£0∙95 x M	£13,500
500,000 or more	£0∙72 x M	£475,000

6.

The following Table relates to money purchase schemes for the financial year beginning with 1st April 2022.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£38
12 to 99	£3∙74 x M	Not applicable
100 to 999	£2∙70 x M	£370
1,000 to 4,999	£2∙11 x M	£2,700
5,000 to 9,999	£1∙60 x M	£10,550
10,000 to 499,999	£1∙12 x M	£16,000
500,000 or more	£0∙85 x M	£560,000

7.

The following Table relates to money purchase schemes for the financial year beginning with 1st April 2023.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£44
12 to 99	£4∙32 x M	Not applicable
100 to 999	£3∙12 x M	£430
1,000 to 4,999	£2∙43 x M	£3,120
5,000 to 9,999	£1∙85 x M	£12,150
10,000 to 499,999	£1∙29 x M	£18,500
500,000 or more	£0∙98 x M	£645,000

8.

The following Table relates to Master Trust schemes for the financial year beginning with 1st April 2021.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£31
12 to 99	£3∙02 x M	Not applicable
100 to 999	£2∙18 x M	£300
1,000 to 4,999	£1∙70 x M	£2,180
5,000 to 9,999	£1∙29 x M	£8,500
10,000 to 499,999	£0∙90 x M	£12,900
500,000 or more	£0∙68 x M	£450,000

9.

The following Table relates to Master Trust schemes for the financial year beginning with 1st April 2022.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£32
12 to 99	£3∙08 x M	Not applicable
100 to 999	£2∙23 x M	£300
1,000 to 4,999	£1∙73 x M	£2,230
5,000 to 9,999	£1∙32 x M	£8,650
10,000 to 499,999	£0∙92 x M	£13,200
500,000 or more	£0∙70 x M	£460,000

10.

The following Table relates to Master Trust schemes for the financial year beginning with 1st April 2023.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£32
12 to 99	£3∙14 x M	Not applicable
100 to 999	£2∙27 x M	£310
1,000 to 4,999	£1∙77 x M	£2,270
5,000 to 9,999	£1∙34 x M	£8,850
10,000 to 499,999	£0∙94 x M	£13,400
500,000 or more	£0∙71 x M	£470,000

PART 2

Personal pension schemes

11.

The following Table relates to personal pension schemes for the financial year beginning with 1st April 2021.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£13
12 to 99	£1∙21 x M	Not applicable
100 to 999	£0∙85 x M	£120
1,000 to 4,999	£0∙72 x M	£850
5,000 to 9,999	£0∙48 x M	£3,600
10,000 to 499,999	£0∙37 x M	£4,800
500,000 or more	£0∙27 x M	£185,000

12.

The following Table relates to personal pension schemes for the financial year beginning with 1st April 2022.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£13
12 to 99	£1∙23 x M	Not applicable
100 to 999	£0∙87 x M	£120
1,000 to 4,999	£0∙74 x M	£870
5,000 to 9,999	£0∙49 x M	£3,700
10,000 to 499,999	£0∙37 x M	£4,900
500,000 or more	£0∙28 x M	£185,000

13.

The following Table relates to personal pension schemes for the financial year beginning with 1st April 2023.

TABLE

Column 1	Column 2	Column 3
Number of members on the reference day	Amount of levy calculated by reference to number of members (M)	Minimum amount of levy
2 to 11		£14
12 to 99	£1∙25 x M	Not applicable
100 to 999	£0∙88 x M	£120
1,000 to 4,999	£0∙75 x M	£880
5,000 to 9,999	£0∙50 x M	£3,750
10,000 to 499,999	£0∙38 x M	£5,000
500,000 or more	£0∙28 x M	£190,000

”