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

Principles

66.—(1) In carrying out its functions under section 65(2) the Authority must have regard to the principles in subsection (2).

(2) The principles are that—

(a) participation in qualifying schemes should be encouraged and facilitated;

(b) the burdens imposed on employers as a result of this Part or Part 1 of the Pensions Act 2008 should be minimised;

(c) any adverse effects on qualifying schemes, and members and future members of those schemes, as a result of implementation of Chapter 5 of Part 1 of the Pensions Act 2008 should be minimised;

(d) the cost of membership of a scheme established under section 67 of the Pensions Act 2008 should be minimised;

(e) the preferences of members and future members should, so far as practicable, be taken into account in making any provision about investment choice in such a scheme;

(f) diversity among members and future members of such a scheme should be respected.

(3) The Authority must take any steps it considers appropriate to promote and engage in discussion with relevant public authorities and others about its functions under section 65(2) and how it carries them out.