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

Regulations 11 to 14

SCHEDULE 3 N.I. Information to be given on request

PART 1 N.I. Information on the constitution of the scheme

1.  The contents of any trust deed or document under which the scheme is made. N.I.

Commencement Information

I1 Sch. 3 para. 1 in operation at 6.4.2014, see reg. 1(1)

2.  The scheme rules [F1 (except where regulation 29B applies)]. N.I.

Textual Amendments

F1 Words in Sch. 3 para. 2 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(15)(a)

Commencement Information

I2 Sch. 3 para. 2 in operation at 6.4.2014, see reg. 1(1)

3.  The contents of any document that supplements or alters in any way the information referred to in paragraphs 1 and 2. N.I.

Commencement Information

I3 Sch. 3 para. 3 in operation at 6.4.2014, see reg. 1(1)

4.  The name and postal address and electronic address of every person who employs any member of the scheme in relevant employment. N.I.

Commencement Information

I4 Sch. 3 para. 4 in operation at 6.4.2014, see reg. 1(1)

PART 2 N.I. Information in the annual report etc.

5.  A copy of the appropriate audited accounts or auditor’s statements prepared and audited in accordance with regulations made under Article 41 of the 1995 Order(1) (provision of documents for members). N.I.

Commencement Information

I5 Sch. 3 para. 5 in operation at 6.4.2014, see reg. 1(1)

6.  If Part 4 of the 2005 Order applies, a copy of the certificate by the actuary under Article 206 of the 2005 Order (schedule of contributions) about the adequacy of the contributions payable towards the scheme. N.I.

Commencement Information

I6 Sch. 3 para. 6 in operation at 6.4.2014, see reg. 1(1)

7.  Any of the information listed in Part 5 that applies. N.I.

Commencement Information

I7 Sch. 3 para. 7 in operation at 6.4.2014, see reg. 1(1)

PART 3 N.I. Information on funding principles and actuarial valuations etc.

8.  The latest statement of funding principles where required under Article 202 of the 2005 Order. N.I.

Commencement Information

I8 Sch. 3 para. 8 in operation at 6.4.2014, see reg. 1(1)

9.  Where Part 4 of the 2005 Order applies to the scheme, a copy of the last actuarial valuation referred to in Article 203 of the 2005 Order (actuarial valuations and reports) that the trustees or managers of the scheme have received. N.I.

Commencement Information

I9 Sch. 3 para. 9 in operation at 6.4.2014, see reg. 1(1)

10.  Where Part 4 of the 2005 Order applies to the scheme, the latest actuarial report referred to in Article 203 of the 2005 Order that the trustees or managers of the scheme have received after the last actuarial valuation. N.I.

Commencement Information

I10 Sch. 3 para. 10 in operation at 6.4.2014, see reg. 1(1)

[F2 10A.   In respect of a collective money purchase scheme, the latest actuarial valuation.] N.I.

Textual Amendments

F2 Sch. 3 para. 10A 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(15)(b)

11.  Any recovery plan prepared under Article 205 of the 2005 Order that is currently in force. N.I.

Commencement Information

I11 Sch. 3 para. 11 in operation at 6.4.2014, see reg. 1(1)

12.  The latest payment schedule under Article 85 of the 1995 Order(2) (schedules of payments to money purchase schemes) or the latest schedule of contributions under Article 206 of the 2005 Order that relates to the employer of the member. N.I.

Commencement Information

I12 Sch. 3 para. 12 in operation at 6.4.2014, see reg. 1(1)

13.  The latest statement of principles governing decisions about investments where required by Article 35(3) of the 1995 Order. N.I.

Commencement Information

I13 Sch. 3 para. 13 in operation at 6.4.2014, see reg. 1(1)

14.  A summary of the winding up procedure under Article 210A(4) of the 2005 Order (requirements for winding up procedure). N.I.

Commencement Information

I14 Sch. 3 para. 14 in operation at 6.4.2014, see reg. 1(1)

PART 4 N.I. Information on transfer credits

15.  Whether the member or prospective member is entitled to acquire transfer credits in exchange for— N.I.

(a) a specified cash equivalent (within the meaning of [F3 Chapter 1 of Part 4ZA] , or Chapter 2 of Part 4A(5), of the 1993 Act) provided by another scheme, or

(b) any transfer payment (within the meaning of [F3 Chapter 1 of Part 4ZA] , or Chapter 2 of Part 4A, of the 1993 Act) provided by another scheme.

Textual Amendments

F3 Words in Sch. 3 para. 15 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations (Northern Ireland) 2015 (S.R. 2015/154), regs. 1(1), 11(2)

Commencement Information

I15 Sch. 3 para. 15 in operation at 6.4.2014, see reg. 1(1)

16.  A statement of any transfer credits referred to in paragraph 15 which the member or prospective member is entitled to acquire. N.I.

Commencement Information

I16 Sch. 3 para. 16 in operation at 6.4.2014, see reg. 1(1)

PART 5 N.I. Information that applies to the scheme

17.  The names of the persons who are trustees of the scheme, and in the case of a scheme none of the trustees of which is an individual, the names of the directors of any company that is a trustee, during the scheme year to which the information relates (referred to in this Part as “the year”). N.I.

Commencement Information

I17 Sch. 3 para. 17 in operation at 6.4.2014, see reg. 1(1)

18.  The provisions of the scheme in relation to the appointment of trustees and their removal from office and, in the case of a scheme none of the trustees of which is an individual, the provisions in the articles of association of each trustee that relate to the appointment and removal from office of any directors. N.I.

Commencement Information

I18 Sch. 3 para. 18 in operation at 6.4.2014, see reg. 1(1)

19.  The names of the professional advisers and of such banks, custodians and other persons and organisations who have acted for or who have been retained by the trustees during the year, with an indication (except in a case where regulation 12 is complied with by the trustees of a scheme for the first time) of any changes since the previous year. N.I.

Commencement Information

I19 Sch. 3 para. 19 in operation at 6.4.2014, see reg. 1(1)

20.  The postal address and electronic address to which enquiries about the scheme generally or about an individual’s entitlement to benefit should be sent. N.I.

Commencement Information

I20 Sch. 3 para. 20 in operation at 6.4.2014, see reg. 1(1)

21.  The number of beneficiaries and active, deferred and pensioner members as at any one date during the year. N.I.

Commencement Information

I21 Sch. 3 para. 21 in operation at 6.4.2014, see reg. 1(1)

22.  Except in the case of a money purchase scheme [F4 other than a collective money purchase scheme] , the percentage [F5 increases or decreases] made (otherwise than in accordance with a legislative requirement) during the year (or, if there have been different [F5 increases or decreases] for different individuals or groups of individuals, the maximum, minimum and average percentage [F5 increases or decreases] ) to— N.I.

(a) pensions that were payable, and

(b) deferred pensions,

with a statement whether the [F5 increases or decreases] were to any extent discretionary.

Textual Amendments

F4 Words in Sch. 3 para. 22 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(15)(c)(i)

F5 Words in Sch. 3 para. 22 substituted (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(15)(c)(ii)

Commencement Information

I22 Sch. 3 para. 22 in operation at 6.4.2014, see reg. 1(1)

23.  Except in the case of a money purchase scheme that is a wholly insured scheme, the following information— N.I.

(a) where any cash equivalents F6 ... (within the meaning of [F7 Chapter 1 of Part 4ZA] , or Chapter 2 of Part 4A, of the 1993 Act) paid during the year were not calculated and verified in the manner prescribed by regulations made under section 93(6) or 97I of the 1993 Act (calculation of cash equivalents), as the case may be, a statement explaining why;

(b) where any of the cash equivalents F6 ... paid during the year were less than the amount for which [F8 section 90] (7) of the 1993 Act (right to cash equivalent) provides, a statement to that effect together with information as to why they were less;

(c) a statement of when full values became, or are likely to become, available, and

(d) a statement whether discretionary benefits are included in the calculation of the transfer values and, if so, the method by which the value of discretionary benefits is assessed.

Textual Amendments

F6 Words in Sch. 3 para. 23 omitted (6.4.2015) by virtue of The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations (Northern Ireland) 2015 (S.R. 2015/154), regs. 1(1), 11(3)(a)

F7 Words in Sch. 3 para. 23 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations (Northern Ireland) 2015 (S.R. 2015/154), regs. 1(1), 11(3)(b)

F8 Words in Sch. 3 para. 23 substituted (6.4.2015) by The Occupational and Personal Pension Schemes (Disclosure of Information) (Amendment) Regulations (Northern Ireland) 2015 (S.R. 2015/154), regs. 1(1), 11(3)(c)

Commencement Information

I23 Sch. 3 para. 23 in operation at 6.4.2014, see reg. 1(1)

24.  A statement as to whether the accounts have been prepared and audited in accordance with regulations made under Article 41(1) and (6) of the 1995 Order (unless the scheme is exempt from such requirements by virtue of those regulations). N.I.

Commencement Information

I24 Sch. 3 para. 24 in operation at 6.4.2014, see reg. 1(1)

25.  If the auditor’s statement made in accordance with regulations made under Article 41(1)(a) and (2)(b) of the 1995 Order is negative or qualified, an account of the reasons why and a statement as to how the situation has been or is likely to be resolved. N.I.

Commencement Information

I25 Sch. 3 para. 25 in operation at 6.4.2014, see reg. 1(1)

26.  If such situation as is mentioned in paragraph 25 in respect of a previous scheme year was not resolved in a previous year, a statement as to how it has been or is likely to be resolved. N.I.

Commencement Information

I26 Sch. 3 para. 26 in operation at 6.4.2014, see reg. 1(1)

27.  Who has managed the investments of the scheme during the year and the extent of any delegation of this function by the trustees. N.I.

Commencement Information

I27 Sch. 3 para. 27 in operation at 6.4.2014, see reg. 1(1)

28.  Whether the trustees have produced a statement of the principles governing decisions about investments for the purposes of the scheme in accordance with Article 35(8) of the 1995 Order (unless the scheme is exempt from such requirement by virtue of regulations made under that Article) and, where the trustees have produced such a statement, a statement that a copy is available on request. N.I.

Commencement Information

I28 Sch. 3 para. 28 in operation at 6.4.2014, see reg. 1(1)

29.  Except in relation to a wholly insured scheme, a statement as to the trustees’ policy on the custody of the scheme assets. N.I.

Commencement Information

I29 Sch. 3 para. 29 in operation at 6.4.2014, see reg. 1(1)

30.— [F9 (1)]  Where the scheme is one to which Article 35 of the 1995 Order applies, an investment report containing— N.I.

(a) a statement by the trustees or the fund manager providing details of any investments made for the scheme during the year that were not made in accordance with the statement of investment principles governing decisions about investments required under Article 35 of the 1995 Order;

(c) a review of the investment performance of the scheme’s fund—

(i) during the year, and

(ii) except where the scheme has existed for less than 3 scheme years, during a period of not less than 3 and not more than 5 scheme years ending with the year,

including an assessment of the nature, disposition, marketability, security and valuation of the scheme’s assets;

[F10 (d) the policies specified in the following paragraphs of regulation 2 of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005 (statement of investment principles) (“the Investment Regulations”)—

(i) paragraph (3)(b)(vi);

(ii) paragraph (3)(b) [(vii);]

(iii) paragraph (3)(c), and

[(iv) paragraph (3)(d), and]]

F11 (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F12 (f) where the scheme is a relevant scheme within the meaning of the Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997, a statement which must—

(i) set out how, and the extent to which, in the opinion of the trustees, the statement of investment principles required under Article 35 of the 1995 Order has been followed during the year;

(ii) describe any review of the statement of investment principles undertaken during the year in accordance with regulation 2(1) of the Investment Regulations and any other review of how the statement of investment principles has been met;

(iii) explain any change made to the statement of investment principles during the year and the reason for the [change;]

(iv) where no such review was undertaken during the year in accordance with regulation 2(1) of the Investment Regulations, give the date of the last [review, and]

[(v) describe the voting behaviour by, or on behalf of, trustees (including the most significant votes cast by trustees or on their behalf) during the year and state any use of the services of a proxy voter during that year.]]

[F13 (2) Where, on the preparation or revision of an investment report under sub-paragraph (1), a scheme is a wholly-insured scheme and the trustees do not consider that it should cease to be such a scheme, sub-paragraphs (ca) and (d) of sub-paragraph (1) do not apply.]

Textual Amendments

F9 Sch. 3 Pt. 5 para. 30 renumbered as Sch. 3 Pt. 5 para. 30(1) (1.10.2022) by The Occupational Pension Schemes (Administration, Investment and Charges and Governance) (Amendment) Regulations (Northern Ireland) 2021 (S.R. 2021/272), regs. 1(1), 5(b)(i)

F10 Sch. 3 para. 30(d) substituted (1.10.2019) by The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations (Northern Ireland) 2018 (S.R. 2018/165), regs. 1(1), 5(5)(a)

F11 Sch. 3 para. 30(e) omitted (1.10.2019) by virtue of The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations (Northern Ireland) 2018 (S.R. 2018/165), regs. 1(1), 5(5)(b)

F12 Sch. 3 para. 30(f) added (1.10.2020) by The Pension Protection Fund (Pensionable Service) and Occupational Pension Schemes (Investment and Disclosure) (Amendment and Modification) Regulations (Northern Ireland) 2018 (S.R. 2018/165), regs. 1(3)(b), 5(5)(c)

F13 Sch. 3 Pt. 5 para. 30(2) inserted (1.10.2022) by The Occupational Pension Schemes (Administration, Investment and Charges and Governance) (Amendment) Regulations (Northern Ireland) 2021 (S.R. 2021/272), regs. 1(1), 5(b)(ii)

Commencement Information

I30 Sch. 3 para. 30 in operation at 6.4.2014, see reg. 1(1)

31.  A copy of any statement made on the resignation or removal of the auditor or actuary and made in accordance with regulations made under Article 47(6) of the 1995 Order (professional advisors). N.I.

Commencement Information

I31 Sch. 3 para. 31 in operation at 6.4.2014, see reg. 1(1)

32.  Except where the scheme is a trust scheme that applies to earners in employments under different employers, where the scheme has employer-related investments (within the meaning of Article 40(2)(9) of the 1995 Order), a statement— N.I.

(a) as to the percentage of the scheme’s resources invested in such investments at the end of the year;

(b) if that percentage exceeds 5 per cent. as to the percentage of the scheme’s resources that are investments to which regulation 13 of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005(10) (investments to which restrictions do not apply) applies, and

(c) if any resources of the scheme are invested in contravention of paragraph (1) of Article 40 of the 1995 Order—

(i) as to the steps the trustees or managers of the scheme have taken or propose to take to secure that the scheme complies with that Article, and

(ii) as to the time when any proposed steps will be taken.

Commencement Information

I32 Sch. 3 para. 32 in operation at 6.4.2014, see reg. 1(1)

33.—(1) Where the scheme is a trust scheme that applies to earners in employments under different employers, a statement in accordance with paragraph 32 or a statement— N.I.

(a) listing the 100 largest investments by value held by the scheme as at the end of the year and stating what percentage of the resources of the scheme each such investment represents;

(b) identifying which of the investments referred to in head (a) are employer-related investments, and

(c) if, as at the end of the year, more than 5 per cent. of the resources of the scheme are invested in employer-related investments in contravention of Article 40(1) of the 1995 Order in relation to a particular employer—

(i) listing the employer-related investments and the name of the employer concerned;

(ii) as to the steps the scheme has taken or proposes to take to ensure that the percentage is reduced to 5 per cent. or less, and

(iii) as to the time when any proposed steps will be taken.

(2) [F14 Subject to sub-paragraph (3), in sub-paragraph (1)] “employer-related investments” has the same meaning as in the definition in Article 40(2) of the 1995 Order but as if the following words in that definition were omitted—

(a) in paragraph (a) “or by any person who is connected with, or an associate of, the employer”, and

(b) “or any such person” in each place where they occur.

[F15 (3) Where regulation 16A of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005 (authorised Master Trust schemes) applies to a scheme that is a trust scheme, then for the purposes of the statement required by sub-paragraph (1), any employer-related investments which do not meet the definition in regulation 16A(4) of those Regulations may be disregarded.]

Textual Amendments

F14 Words in Sch. 3 para. 33(2) substituted (1.10.2022) by The Occupational Pension Schemes (Investment) (Employer-related Investments by Master Trusts) (Amendment) Regulations (Northern Ireland) 2022 (S.R. 2022/210), regs. 1(1), 4(a)

F15 Sch. 3 para. 33(3) inserted (1.10.2022) by The Occupational Pension Schemes (Investment) (Employer-related Investments by Master Trusts) (Amendment) Regulations (Northern Ireland) 2022 (S.R. 2022/210), regs. 1(1), 4(b)

Commencement Information

I33 Sch. 3 para. 33 in operation at 6.4.2014, see reg. 1(1)

[F16 34.   Where the scheme is a relevant scheme within the meaning of the Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997, the statement which the trustees or managers are required to prepare by regulation 23 of those Regulations (annual statement regarding governance).] N.I.

Textual Amendments

F16 Sch. 3 para. 34 added (17.7.2015) by The Occupational Pension Schemes (Charges and Governance) Regulations (Northern Ireland) 2015 (S.R. 2015/309), regs. 1(2), 17(2)

[F17 34A.   Where the trustees are required to publish a report on a website in accordance with regulation 6(1)(b) of the Occupational Pension Schemes (Climate Change Governance and Reporting) Regulations (Northern Ireland) 2021 (climate change reporting and publication requirements), the website address where the report for the year has been published.] N.I.

Textual Amendments

F17 Sch. 3 Pt. 5 para. 34A inserted (1.10.2021) by The Occupational Pension Schemes (Climate Change Governance and Reporting) (Miscellaneous Provisions and Amendments) Regulations (Northern Ireland) 2021 (S.R. 2021/246), regs. 1(1), 4(2)

[F18 PART 6 N.I. Information to be given about pooled funds

Textual Amendments

F18 Sch. 3 Pt. 6 added (6.4.2019) by The Occupational Pension Schemes (Administration and Disclosure) (Amendment) Regulations (Northern Ireland) 2018 (S.R. 2018/53), regs. 1(1), 3(7)

35.— (1) A statement identifying in relation to the provision of money purchase benefits to the member— N.I.

(a) the international securities identification number (“the ISIN”) allocated in accordance with ISO 6166 (1st edition) published by the International Organisation for Standardisation on 31st August 2013 in relation to each collective investment scheme in which assets are directly invested on behalf of that member on the relevant date;

(b) in the case of each unit-linked contract entered into by, or on behalf of, the trustees or managers which is in force on the relevant date in relation to that member, the ISIN (where present) relating to each collective investment scheme directly attributable to that contract, and

(c) the name given by the manager of the collective investment scheme to the scheme to which an ISIN provided in accordance with head (a) or (b) relates.

(2) In this paragraph—

“collective investment scheme” has the meaning given in regulation 1(2) of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005;

“the relevant date” means—

(a)

the date the request is made under regulation 12A, or

(b)

such earlier date as the trustees or managers of the scheme may specify which meets the following conditions—

(i)

the date must be no more than 6 months before the date of the request, and

(ii)

the trustees or managers of the scheme must be satisfied that the investment options in which the assets of the member were invested on the date specified are the same as those in which the member is invested on the date of the request.]

(1)

Article 41 was amended by paragraph 10(1) of Schedule 5 to the Child Support, Pensions and Social Security Act (Northern Ireland) 2000, paragraph 46 of Schedule 10 and Schedule 11 to the Pensions (Northern Ireland) Order 2005 and paragraph 22 of the Schedule to S.R. 2005 No. 434

(2)

Article 85 was amended by the paragraph 58 of Schedule 10 to the Pensions (Northern Ireland) Order 2005

(3)

Article 35 was substituted by Article 221 of the Pensions (Northern Ireland) Order 2005

(4)

Article 210A was inserted by regulation 2 of S.R. 2006 No. 297

(5)

Part 4A was inserted by Article 34 of the Welfare Reform and Pensions (Northern Ireland) Order 1999

(6)

Section 93 was amended by paragraph 6 of Schedule 4 to the Pensions (Northern Ireland) Order 1995 and paragraph 5(1) of Schedule 5 to the Child Support, Pensions and Social Security Act (Northern Ireland) 2000. Section 97I was inserted by Article 34 of the Welfare Reform and Pensions (Northern Ireland) Order 1999

(7)

Section 90 was amended by Article 150 of the Pensions (Northern Ireland) Order 1995, paragraph 24 of Schedule 9 to the Welfare Reform and Pensions (Northern Ireland) Order 1999 and paragraph 9 of Schedule 10 to the Pensions (Northern Ireland) Order 2005

(8)

Article 35 was substituted Article 221 of the Pensions (Northern Ireland) Order 2005

(9)

Article 40 was amended by paragraph 45 of Schedule 10 to the Pensions (Northern Ireland) Order 2005, Article 152(2) of S.I. 2001/3649 and Article 26 of S.I. 2004/355

(10)

S.R. 2005 No. 569; regulation 13 was amended by regulation 7 of S.R. 2006 No. 141