The Occupational and Personal Pension Schemes (Levy) (Amendment) Regulations (Northern Ireland) 2000

Statutory Rules of Northern Ireland

2000 No. 60

PENSIONS

The Occupational and Personal Pension Schemes (Levy) (Amendment) Regulations (Northern Ireland) 2000

Made

6th March 2000

Coming into operation

1st April 2000

The Department for Social Development, in exercise of the powers conferred by sections 170(1) and (2) and 177(2) to (4) of the Pension Schemes (Northern Ireland) Act 1993(1), and now vested in it(2), and of all other powers enabling it in that behalf, hereby makes the following Regulations:

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Levy) (Amendment) Regulations (Northern Ireland) 2000 and shall come into operation on 1st April 2000.

(2) In these Regulations, “the principal Regulations” means the Occupational and Personal Pension Schemes (Levy) Regulations (Northern Ireland) 1997(3).

(3) The Interpretation Act (Northern Ireland) 1954(4) shall apply to these Regulations as it applies to an Act of the Assembly.

Amendment of regulation 2 of the principal Regulations

2.  In regulation 2 of the principal Regulations(5) (the general levy)—

(a) in paragraph (1) after “Regulatory Authority” there shall be inserted “in connection with their functions in relation to occupational pension schemes”; and

(b) in paragraph (2) after “section 169” there shall be inserted “and of the Regulatory Authority in connection with their functions in relation to personal pension schemes(6)”.

Amendment of the Schedule to the principal Regulations

3.—(1) In Part I of the Schedule to the principal Regulations(7) (amount of general levy — occupational pension schemes)—

(a) in sub-paragraph (a) for “£11·00” there shall be substituted “£12·00”;

(b) in sub-paragraph (b) for “£1·20” there shall be substituted “£1·25”;

(c) in sub-paragraph (c)(i) for “85p” there shall be substituted “90p”;

(d) in sub-paragraph (c)(ii) for “£120” there shall be substituted “£125”;

(e) in sub-paragraph (d)(i) for “69p” there shall be substituted “70p”;

(f) in sub-paragraph (d)(ii) for “£850” there shall be substituted “£900”; and

(g) in sub-paragraph (e)(ii) for “£3,450” there shall be substituted “£3,500”.

(2) In Part II of that Schedule (amount of general levy — personal pension schemes)—

(a) in sub-paragraph (a) for “£3·75” there shall be substituted “£5·20”;

(b) in sub-paragraph (b) for “35p” there shall be substituted “50p”;

(c) in sub-paragraph (c)(i) for “25p” there shall be substituted “35p”;

(d) in sub-paragraph (c)(ii) for “£35” there shall be substituted “£50”;

(e) in sub-paragraph (d)(i) for “20p” there shall be substituted “30p”;

(f) in sub-paragraph (d)(ii) for “£250” there shall be substituted “£350”;

(g) in sub-paragraph (e)(i) for “15p” there shall be substituted “20p”;

(h) in sub-paragraph (e)(ii) for “£1,000” there shall be substituted “£1,500”;

(i) in sub-paragraph (f)(i) for “10p” there shall be substituted “15p”; and

(j) in sub-paragraph (f)(ii) for “£1,500” there shall be substituted “£2,000”.

Sealed with the Official Seal of the Department for Social Development on 6th March 2000.

L.S.

John O'Neill

Senior Officer of the

Department for Social Development

Explanatory Note

(This note is not part of the Regulations.)

These Regulations amend the Occupational and Personal Pension Schemes (Levy) Regulations (Northern Ireland) 1997 (“the principal Regulations”) which provide for the payment of levies by occupational and personal pension schemes for the purpose of meeting the costs of the Registrar of Occupational and Personal Pension Schemes, the Pensions Ombudsman, and certain grants made to advisory bodies, and (in the case of occupational pension schemes) the costs of the Occupational Pensions Regulatory Authority (“the Authority”) and the Pensions Compensation Board.

These Regulations amend regulation 2(2) of the principal Regulations to provide for expenditure of the Authority incurred in connection with functions concerning the regulation of personal pension schemes to be included among the purposes for which the general levy is payable by personal pension schemes. A consequential amendment is also made to regulation 2(1) of the principal Regulations to make clear that the expenditure of the Authority only in relation to occupational pension schemes is included among the purposes for which the general levy is payable by occupational pension schemes (regulation 2).

The Schedule to the principal Regulations is also amended to specify increased rates for the general levy payable by schemes (regulation 3).

(1)

1993 c. 49; section 170 was substituted by Article 161 of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22))

(2)

See Article 8(b) of S.R. 1999 No. 481

(3)

S.R. 1997 No. 142; relevant amending regulations are S.R. 1998 No. 85 and S.R. 1999 No. 106

(4)

1954 c. 33 (N.I.)

(5)

Regulation 2(1) and (2) was amended by regulation 2(3) of S.R. 1998 No. 85

(6)

See sections 107A and 107B of the Pension Schemes (Northern Ireland) Act 1993 which are inserted by Article 10 of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11)). See also Schedule 1 to that Order

(7)

The Schedule was substituted by the Schedule to S.R. 1998 No. 85 and amended by regulation 2(2) of S.R. 1999 No. 106