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

PART 1 Information to be given by occupational pension schemes that fall within paragraph 1 of Schedule 1

1.  The conditions persons must meet to become members of the scheme and a summary of the categories of persons who are eligible to become members of the scheme.

2.  How persons who are eligible to be members of the scheme are admitted to it.

3.  A summary of what can be done with a member’s accrued rights where the member leaves pensionable service before normal pension age, including whether accrued rights can be transferred out of the scheme, converted into an annuity and commuted to a lump sum.

4.  A statement relating to the matters mentioned in paragraph 3—

(a) as to whether a charge may be made, and

(b) that further information is available on request.

5.  Whether the scheme is a tax registered scheme or, if not, whether an application for the scheme to become a tax registered scheme is under consideration by HMRC.

6.  A statement that explains whether transfers can be made into the scheme, including whether such transfers can be made in accordance with Chapters 4 and 5(1) of Part 4 of the 1993 Act.

7.  The arrangements, if any, for the payment by members of additional voluntary contributions.

8.  A summary of how the contributions, if any, payable by the employer and the member are calculated.

9.  Where the scheme is the National Employment Savings Trust Corporation established under section 75(1) of the Pensions Act 2008(2), a statement of the maximum amount, if any, of contributions that may be paid in any tax year in relation to a member of the scheme.

10.  A statement that—

(a) the Pensions Advisory Service(3) is available at any time to assist members and beneficiaries with—

(i) pensions questions, and

(ii) issues they have been unable to resolve with the trustees or managers of the scheme;

(b) the Pensions Ombudsman(4) may investigate and determine certain complaints or disputes about pensions that are referred to the Pensions Ombudsman in accordance with the 1993 Act, and

(c) the Regulator may intervene in the running of schemes where trustees, managers, employers or professional advisers have failed in their duties.

11.  The postal address and electronic address at which each of the bodies referred to in paragraph 10 may be contacted.

12.  Except where the scheme has no relevant employment which is contracted-out employment within the meaning of section 4(5) of the 1993 Act, which relevant employment is and which is not contracted-out employment.

13.  If a member of the scheme has to give a period of notice to terminate that member’s pensionable service, the length of that period of notice.

14.  Whether, and if so on what conditions (if any), a member of the scheme, whose pensionable service has terminated before normal pension age, may re-enter pensionable service.

15.  The following information about benefits payable under the scheme (referred to in this paragraph as “benefits”)—

(a) what the benefits are;

(b) how benefits are calculated;

(c) how the scheme defines pensionable earnings, if appropriate;

(d) how and when benefits in payment are increased, if appropriate;

(e) the rate at which rights to benefits accrue, if appropriate;

(f) the conditions on which benefits are payable;

(g) when benefits (including survivor’s benefits) are payable.

16.  Where the member has money purchase benefits, a statement that the value of the pension will depend on several factors including the amount of the contributions paid, the performance of investments and the cost of converting the benefit into an annuity.

17.  Except where the scheme is a public service pension scheme, a statement that the scheme annual report will be given on request.

18.—(1) The scheme’s internal dispute resolution arrangements.

(2) The postal address or electronic address and job title of the person who should be contacted to use those arrangements.

(3) This paragraph does not apply to a scheme within Article 50(8) of the 1995 Order(6) (requirement for dispute resolution arrangements).

(1)

Chapter 5 was inserted by Article 241 of the Pensions (Northern Ireland) Order 2005

(2)

2008 c. 30

(3)

The Pensions Advisory Service can be contacted at 11 Belgrave Road, London SW1V 1RB or at www.pensionsadvisoryservice.org.uk

(4)

The Pensions Ombudsman is appointed under section 145(2) of the Pension Schemes Act 1993 (c. 48) and can be contacted at 11 Belgrave Road, London SW1V 1RB or at www.pensions-ombudsman.org.uk

(5)

Section 4 was amended by Article 133(2) of, and paragraph 16 of Schedule 3 to, the Pensions (Northern Ireland) Order 1995, paragraph 37 of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) (Northern Ireland) Order 1999 (S.I. 1999/671), paragraph 3 of Schedule 4 to the Pensions Act (Northern Ireland) 2008, paragraph 8 of Schedule 7 to the Pensions (No. 2) Act (Northern Ireland) 2008 and paragraph 2 of Schedule 1 to S.R. 2005 No. 433

(6)

Article 50 was substituted by Article 250 of the Pensions (Northern Ireland) Order 2005