Explanatory Memorandum

Pension Schemes Act (Northern Ireland) 2021

2021 CHAPTER 6

9 August 2021

Commentary on Sections

Part 1 – Master Trusts

Triggering events: continuity

Section 20: Triggering event: duties of trustees

Section 20 places three sets of duties on trustees where there is a triggering event: to notify the Pensions Regulator and employers (section 22); to pursue a continuity option (section 23); and to prepare and submit an implementation strategy to the Pensions Regulator (sections 26 and 27).