The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2023

Triggering events: notification requirements

16.—(1) For the purposes of section 22(6)(b) of the Act (notification requirements), if a triggering event occurs in relation to a Master Trust scheme, the trustees must notify the employers of the following matters—

(a) the nature of the triggering event;

(b) except where regulation 28(3) applies to the scheme, that the trustees—

(i) have submitted an implementation strategy to the Regulator and the date on which they did so, or

(ii) will submit an implementation strategy to the Regulator by the date specified in regulation 17, and

(iii) in either case, will make the implementation strategy available to the employers after it has been approved by the Regulator;

(c) the timetable for future communications with the employers.

(2) Notifications under section 22 of the Act must be given before the end of the period of—

(a) 7 days (in the case of notifications to the Regulator), or

(b) 14 days (in the case of notifications to employers),

beginning with the date specified in paragraph (3).

(3) The specified date is—

(a) the date on which the triggering event occurred (in the case of notifications made under section 22(2) or (6) of the Act), or

(b) the date on which the person under the duty to notify the Regulator became aware that the event had occurred (in the case of notifications made under section 22(4) of the Act).