The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 2014

Occupational pension schemes during winding up N.I.

24.—(1) The information mentioned in paragraph (2) must be given to members and beneficiaries of the scheme, except excluded persons, in accordance with this regulation where the trustees have begun to wind up the scheme.

(2) The information is the information listed in—

(a) Part 1 of Schedule 8;

(b) paragraphs 5, 6 and 7 of that Schedule;

(c) Part 4 of that Schedule.

(3) Where the trustees begin to wind up the scheme on a date on or after 6th April 2014—

(a) the information mentioned in paragraph (2)(a) must be given as soon as practicable and in any event within no more than one month of that date, and

(b) the information mentioned in paragraph (2)(b) must be given within every 12 months of the date information was given under sub-paragraph (a) until the trustees complete winding up the scheme.

(4) Where the trustees began to wind up the scheme before 6th April 2014, the information mentioned in paragraph (2)(b) must be given within 12 months of 6th April 2014 and within every 12 months thereafter until the trustees complete winding up the scheme.

(5) Where a request is made for the information mentioned in paragraph (2)(c), it must be given within 2 months of the date the request is made.

(6) For the purposes of this regulation, the date the trustees begin to wind up the scheme is to be determined—

[F1 (za) in relation to a collective money purchase scheme, in accordance with paragraph 4 of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2022 (continuity option 1: transfer out and winding up);]

(a) in a case where regulation 2 of the Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 1996(1) (commencement of winding up) applies, in accordance with that regulation, and

(b) in any other case, in accordance with Article 121(4)(2) and (5) of the 1995 Order.

(7) Where a scheme is a sectionalised scheme, this regulation applies as if—

(a) each section of the scheme were a separate scheme, and

(b) the members of each section were the members of a separate scheme.

(8) For the purposes of paragraph (7), a sectionalised scheme is a scheme where—

(a) Part 4 of the 2005 Order applies to the scheme as if a section of a scheme were a separate scheme by virtue of paragraph 1 of Schedule 2 to the Occupational Pension Schemes (Scheme Funding) Regulations (Northern Ireland) 2005(3) (sectionalised multi-employer schemes), or

(b) Part 4 of the 2005 Order does not apply to the scheme, but would apply in that way if it did.

Textual Amendments

F1 Reg. 24(6)(za) inserted (1.8.2022) by The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations (Northern Ireland) 2022 (S.R. 2022/192), regs. 1(1), 13(10)

Commencement Information

I1 Reg. 24 in operation at 6.4.2014, see reg. 1(1)

(1)

S.R. 1996 No. 621; regulation 2 was amended by paragraph 1 of the Schedule to S.R. 2005 No. 171

(2)

Paragraphs (4) and (5) were added by section 45(2) of the Child Support, Pensions and Social Security Act (Northern Ireland) 2000 and amended by paragraph 63(3) and (4) of Schedule 10 to the Pensions (Northern Ireland) Order 2005

(3)

S.R. 2005 No. 268