Explanatory note

These Regulations make provision relating to the modification of occupational pension schemes under Articles 67 and 68 of the Pensions (Northern Ireland) Order 1995 (“the Order”) and related civil penalties under Article 10 of the Order.

Regulation 1 relates to citation, commencement and interpretation.

Regulation 2 extends the meaning of “member” for the purposes of Article 67 of the Order and these Regulations.

Regulation 3 makes provision in respect of the certification requirements which an actuary must provide before any person can exercise a power to modify the scheme.

Regulation 4 makes provision in respect of obtaining the consent of a member before any person can exercise a power to modify the scheme.

Regulation 5 makes provision in respect of the circumstances in which the consent of a member may be treated as given in respect of a power to modify the scheme.

Regulation 6 provides that the restriction on the power to modify does not apply to the exercise of the power in a prescribed manner.

Regulation 7 exempts certain schemes from the provisions which allow trustees of trust schemes to modify the scheme by resolution.

Regulation 8 provides for civil penalties to be imposed by the Occupational Pensions Regulatory Authority where the requirements of regulation 3, 4 or 5 have not been complied with.

The Pensions (1995 Order) (Commencement No. 2) Order (Northern Ireland) 1996 (S.R. 1996 No. 91 (C. 4)) provides for the coming into operation of Articles 10(3), 67 and 68 of the Order, for the purpose only of authorising the making of regulations, on 6th April 1996 and Article 166 of the Order, in so far as it was not already in operation, on 6th April 1996. The Pensions (1995 Order) (Commencement No. 5) Order (Northern Ireland) 1996 (S.R. 1996 No. 534 (C. 25)) provides for the coming into operation of Article 122(2) to (4) of the Order, in so far as it was not already in operation, on 19th November 1996.

As these Regulations make in relation to Northern Ireland only provision corresponding to provision contained in regulations made by the Secretary of State for Social Security in relation to Great Britain, the requirement for consultation under Article 117(1) of the Order does not apply by virtue of paragraph (2)(e) of that Article.