The Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997

Requirement for trustees to keep books and records

12.—(1) Trustees of any trust scheme shall keep—

(a) records of their meetings (including meetings of any of their number) in accordance with regulation 13; and

(b) books and records relating to any of the following transactions—

(i) any amount received in respect of any contribution payable in respect of an active member of the scheme;

(ii) the date on which a member joins the scheme;

(iii) payments of pensions and benefits;

(iv) payments made by or on behalf of the trustees to any person including a professional adviser and such records to include the name and address of the person to whom payment was made and the reason for that payment;

(v) any movement or transfer of assets from the trustees to any person including a professional adviser and such records to include the name and address of the person to whom the assets were moved or transferred and the reason for that transaction;

(vi) the receipt or payment of money or assets in respect of the transfer of members into or out of the scheme and such records to include, in the case of a member who has transferred into the scheme, the name of that member, the terms of the transfer, the name of the transferring scheme, the date of the transfer and date of receipt or payment of money or assets, and, in the case of a member who has transferred out of the scheme, the name of that member, the terms of the transfer, the name of the scheme transferred to, the date of the transfer, and the date of receipt or payment of money or assets;

(vii) in a case where an appropriate policy of insurance is taken out by virtue of section 28A of the Pension Schemes Act(1) (discharge of protected rights on winding up: insurance policies), the name of the insurance company, the name of members in respect of which the appropriate policy of insurance is taken out, the payment of money or assets and the date of such payments;

(viii) payments made to a member who leaves the scheme, other than on a transfer, and such records to include the name of that member, the date of leaving, the member’s entitlement at that date, the method used for calculating any entitlement under the scheme and how that entitlement was discharged;

(ix) payments made to the employer;

(x) other payments to, and withdrawals from, the scheme, including the name and address of the person from whom the payment was received or to whom the payment was made.

(2) This regulation shall not apply in the case of a trust scheme which falls within the descriptions referred to in regulation 3(1)(c), (f), (g) and (i).

(1)

Section 28A was inserted by Article 143(1) of the Pensions (Northern Ireland) Order 1995