Explanatory Memorandum

Pensions (No. 2) Act (Northern Ireland) 2008

2008 CHAPTER 13

15 December 2008

Commentary on Sections

PART 1 – Pension Scheme Membership for Jobholders

CHAPTER 4 – Supplementary provision about compliance and information-sharing
Section 63: Objectives of the Regulator

Section 63 provides a new statutory objective for the Pensions Regulator. In addition to those listed at Article 4(1) of the Pensions (Northern Ireland) Order 2005, the Regulator’s objectives will now include maximising compliance with the new duties being placed on employers under Chapter 1 of Part 1, and the safeguards in sections 50 (prohibited recruitment conduct) and 54 (inducements).