Explanatory Memorandum

Pensions Act (Northern Ireland) 2012

2012 CHAPTER 3

1 June 2012

Commentary on Sections

Part 2: Automatic Enrolment

Section 17: Power of managers to modify by resolution

Section 17 extends section 32 of the Pensions (No. 2) Act. Section 32 provides that the trustees of an occupational pension scheme may by resolution modify the scheme so that it complies with the requirements for an automatic enrolment scheme in section 17 of the Pensions (No. 2) Act or the requirements as to payment of contributions in sections 20 and 24 of the Pensions (No. 2) Act. Section 32 is extended so that managers, as well as trustees, of occupational pension schemes are able to use this power to modify a scheme.