The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024

Periodic reporting requirement

32.—(1) For the purposes of section 94(2) of the 2021 Act (periodic reporting requirements) the first report must be submitted to the Regulator before the end of 14 days beginning with the date on which the Regulator notifies the trustees that the implementation strategy is approved.

(2) For the purposes of section 94(4)(b) of the 2021 Act, the reports must record—

(a) decisions made by the trustees and employers concerning the continuity option being pursued;

(b) where continuity option 1 is being pursued, decisions made by the trustees and employers in relation to the proposal formulated in accordance with section 87(1)(b) of the 2021 Act (continuity option 1: discharge of liabilities and winding up) for discharging the scheme’s liability to each beneficiary.

(3) The following information is specified for the purposes of section 94(4)(c) of the 2021 Act—

(a) if the person preparing the report is not an independent trustee appointed pursuant to Article 23(1)(1) of the 1995 Order (power to appoint independent trustees), the name and address of that person;

(b) the name and address of the scheme actuary;

(c) a statement as to whether any of the scheme’s administration services are being carried out by a person other than a trustee, and if so the name and address of that person;

(d) a statement as to whether any of the scheme’s administration services are being carried out by a person other than a trustee, and if so the name and address of that person;

(e) details of whether any particular issues are affecting the trustees’ ability to pursue or complete the steps identified in the implementation strategy.

(1)

Article 23 was substituted by Article 32(3) of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1))