PART 2

Collective money purchase benefits: Northern Ireland

Authorisation criteria

Scheme design requirement
63
1
This section applies for the purposes of enabling the Pensions Regulator to decide whether it is satisfied that the design of a collective money purchase scheme is sound (see section 60(3)(b)).
2
In deciding whether the design of a collective money purchase scheme is sound, the Pensions Regulator must take into account—
a
the scheme's viability report and viability certificate (see section 64);
b
any matters specified in regulations made by the Department.
3
Regulations under subsection (2)(b) may include provision requiring specified information to be provided to the Pensions Regulator.
4
Regulations under subsection (2)(b) are subject to confirmatory procedure.
S. 63 in force at Royal Assent for specified purposes, see s. 131(3)(a)
S. 63 in force at 1.8.2022 in so far as not already in force by S.R. 2022/197, art. 3(a)