The Occupational Pension Schemes (Scheme Funding) Regulations (Northern Ireland) 2005

1. Introductory Text

2. 1. Citation and commencement

3. 2. Interpretation

4. 3. Determination of assets and liabilities

5. 4. Valuation of assets and determination of the amount of liabilities

6. 5. Calculation of technical provisions

7. 6. Statement of funding principles

8. 7. Actuarial valuations and reports

9. 8. Recovery plan

10. 9. Schedule of contributions

11. 10. Content and certification of schedules of contributions

12. 11. Records

13. 12. Failure to make payments

14. 13. Period for obtaining employer’s agreement

15. 14. Powers of the Regulator

16. 15. Guidance relating to actuarial advice

17. 16. Modification of shared cost schemes

18. 17. Exemptions - general

19. 18. Exemption connected with winding up

20. 19. Modification of provisions of the Order

21. 20. Supplementary, consequential and transitional provisions and savings

22. 21. Revocations

23. Signature

24. 1. SCHEDULE 1

       Actuary’s Certificates

    2. SCHEDULE 2

       Modifications of the Order and Regulations

       1. Multi-employer schemes

          1. 1. (1) Where— (a) a scheme in relation to which there...

          2. 2. In the application of Article 208 (matters requiring agreement of...

       2. Frozen or paid-up schemes

          1. 3. In the application of Part IV of the Order and...

       3. Schemes covering United Kingdom and foreign employment

          1. 4. (1) This paragraph applies in the cases described in sub-paragraphs...

          2. 5. (1) This paragraph applies in the case described in sub-paragraph...

       4. Schemes undertaking cross-border activities

          1. 6. (1) This paragraph applies where the trustees or managers of...

       5. Schemes with a partial guarantee by a public authority

          1. 7. Where such a guarantee has been given as is mentioned...

       6. Schemes under which the rates of contributions are determined by the trustees or managers or by the actuary

          1. 8. (1) In the case of a scheme under which—

       7. Schemes which are not required to appoint an actuary

          1. 9. Where a scheme is exempt from the application of Article...

       8. Schemes with fewer than 100 members

          1. 10. (1) This paragraph applies in the case of a scheme...

       9. Schemes subject to a change of circumstances affecting the certification of a schedule of contributions

          1. 11. (1) In circumstances where the actuary considers that, because of...

    3. SCHEDULE 3

       Supplementary and Consequential Provisions

       1. 1. Amendment of the Occupational Pension Schemes (Contracting-out) Regulations

       2. 2. Amendment of the Occupational Pension Schemes (Transfer Values) Regulations

       3. 3. Amendment of the Occupational Pension Schemes (Winding Up) Regulations

       4. 4. Amendment of the Personal and Occupational Pension Schemes (Pensions Ombudsman) Regulations

       5. 5. Amendment of the Occupational Pension Schemes (Scheme Administration) Regulations

       6. 6. Amendment of the Occupational Pension Schemes (Disclosure of Information) Regulations

       7. 7. (1) Until the trustees or managers of a scheme have...

       8. 8. Amendment of the Pension Sharing (Valuation) Regulations 2000

       9. 9. Amendment of the Pension Sharing (Implementation and Discharge of Liability) Regulations

       10. 10. Amendment of the Pension Sharing (Pension Credit Benefit) Regulations

       11. 11. Amendment of the Stakeholder Pension Schemes Regulations

       12. 12. Amendment of the Occupational Pension Schemes (Republic of Ireland Schemes Exemption) Regulations

       13. 13. Amendment of the Occupational Pension Schemes (Administration and Audited Accounts) (Amendment) Regulations

    4. SCHEDULE 4

       Transitional Provisions and Savings

       1. PART 1 Transitional provisions

          1. 1. Paragraphs 2 to 7 apply in relation to a scheme...

          2. 2. Article 203 (actuarial valuations and reports) shall apply to the...

          3. 3. (1) Except where sub-paragraph (3), (5) or (7) applies, the...

          4. 4. The trustees or managers must ensure that the first valuation...

          5. 5. Article 206 (schedule of contributions) shall apply to the scheme...

          6. 6. In the circumstances described in paragraph 4(b), (c), and (d),...

          7. 7. References in Articles 203 to 210 to actuarial valuations or...

       2. PART 2 Savings

          1. 8. Paragraphs 9 to 19 apply to a scheme which—

          2. 9. Articles 56 and 58 to 60 of the 1995 Order...

          3. 10. Where— (a) immediately before the commencement date, the trustees or...

          4. 11. Where— (a) immediately before the commencement date, the trustees or...

          5. 12. Where— (a) immediately before the commencement date, the trustees or...

          6. 13. Where— (a) immediately before the commencement date, the trustees or...

          7. 14. Where a requirement to obtain a valuation is preserved by...

          8. 15. Where, immediately before the commencement date, the trustees or managers...

          9. 16. Article 61 of the 1995 Order (supplementary), regulations 2 (interpretation)...

          10. 17. Where any provision of the 1995 Order or the 1996...

          11. 18. Where any provision of the 1995 Order or the 1996...

          12. 19. Any reference to the 1995 Order or the 1996 Regulations...

    5. SCHEDULE 5

       Regulations revoked

25. Explanatory Note