The Pensions Dashboards (Amendment) Regulations (Northern Ireland) 2023

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations amend the Pensions Dashboards Regulations (Northern Ireland) 2023 (“the Dashboards Regulations”).

The Dashboards Regulations make provision for pensions dashboard services, which are intended to enable individuals (or other authorised persons) to request and view information relating to an individual’s pension entitlements electronically.

Chapter 1 of Part 3 of the Dashboards Regulations imposes requirements on trustees or managers of relevant occupational pension schemes to cooperate with the Money and Pensions Service. The Money and Pensions Service is the single financial guidance body established by section 1 of the Financial Guidance and Claims Act 2018 (c. 10). Regulation 15 of the Dashboards Regulations introduced Schedule 2 which sets out the order and date by which different types of relevant occupational pension schemes were required to establish a working connection with the Money and Pensions Service. These Regulations amend the Dashboards Regulations, to replace the staging profile, staging deadlines and connection window, by introducing a single “connection deadline” of 31st October 2026.

Regulation 3 amends regulation 14 (cooperation – trustees or managers) by removing the reference to the staging profile.

Regulation 4 amends regulation 15 (connection according to the staging profile) by replacing the staging profile and staging deadlines (as set out in Schedule 2) with a single “connection deadline” for all relevant occupational pension schemes. The connection deadline is defined in Schedule 1. Regulation 4 also removes the “connection window”, which is no longer required. References in Chapter 1 to the connection window and to changes in the classification of a scheme according to the staging profile are therefore omitted.

Regulation 15(2)(d) of the Dashboards Regulations is amended to allow the Department for Communities (“the Department”) to issue guidance in relation to connection either separately or jointly with the Money and Pensions Service or the Pensions Regulator, who may also issue guidance jointly.

Regulation 5 amends regulation 16 (early or voluntary connection) by revoking the process of trustees or managers applying for early connection, as there is no longer a connection window; references to early connection in Chapter 1 are therefore omitted.

Regulation 6 amends regulation 17 (deferred connection) by extending the period for trustees or managers to make an application to the Department to defer the connection deadline. The amended period is the period within 12 months of 9th August 2023, to reflect the introduction of the single connection deadline, and the evidence requirements are updated to reflect the amended period.

Regulation 7 amends regulation 18 (connection where the staging profile does not apply) by amending the dates that are relevant for the purpose of establishing when a scheme, which meets the criteria for connecting to the Money and Pensions Service after the reference date, must connect. The reference date is defined in Schedule 1.

Regulations 8 and 9 amend regulations 19 (connection where the Pensions Dashboards Regulations (Northern Ireland) 2023 cease to apply and then apply again) and 20 (connection affected by an assessment period) respectively, to reflect the introduction of a single connection deadline.

Regulation 10 amends Schedule 1 (interpretation) by inserting a definition of connection deadline, amending the definition of reference date (so the scheme year end date falls between 1st April 2023 and 31st March 2024, both dates inclusive), and omitting the definitions of staging profile and staging deadline. It also omits definitions which were only used in and in connection with the staging profile in Schedule 2.

Regulation 11 omits Schedule 2 (staging profile).

As these Regulations make in relation to Northern Ireland only provision corresponding to provision contained in Regulations made by the Secretary of State for Work and Pensions in relation to Great Britain, the requirement to consult under Article 289(1) of the Pensions (Northern Ireland) Order 2005 does not apply by virtue of paragraph (2)(e) of that Article.

An assessment of the cost to business of the Regulations is detailed in a Regulatory Impact Assessment, a copy of which has been laid in the Business Office and the Library of the Northern Ireland Assembly. Copies of the Assessment are available from the Department for Communities, Social Security Policy, Legislation and Decision Making Services, Level 8, Causeway Exchange, 1-7 Bedford Street, Belfast BT2 7EG or from the website: https://www.communities-ni.gov.uk/articles/pension-information. A copy of the Assessment is also annexed to the Explanatory Memorandum which is available alongside this Statutory Rule on the website: http://www.legislation.gov.uk/nisr.