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The Occupational Pension Schemes (Charges and Governance) Regulations (Northern Ireland) 2015

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Appointment of service providers

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15.—(1) The Administration Regulations are amended in accordance with paragraphs (2) and (3).

(2) For the heading to Part II substitute “ADVISERS AND SERVICE PROVIDERS”.

(3) After regulation 6 (duty to disclose information) insert—

Appointment of service providers in respect of relevant schemes

6A.(1) The trust deed or scheme rules must not contain a provision that—

(a)requires that the administrative, fund management, advisory or other services in respect of the scheme are provided by a person identified in any document; or

(b)restricts the choice of person who may be appointed to provide such services.

(2) Paragraph (1) overrides any provision of a relevant scheme to the extent that it conflicts with that paragraph.

(3) In relation to a relevant scheme which is not a money purchase scheme, this regulation applies only in relation to services which are provided in connection with the provision of money purchase benefits..

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