PART 2

Collective money purchase benefits: Northern Ireland

Ongoing supervision

Requirement to submit supervisory return
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1
The Pensions Regulator may by notice require the trustees of a collective money purchase scheme to submit a supervisory return.
2
The Department may make regulations setting out the information that the Pensions Regulator may require in a supervisory return.
3
The notice must specify—
a
the information required to be included in the return,
b
the manner and form in which the return must be submitted, and
c
the period (of at least 28 days) within which the return must be submitted.
4
The trustees of a collective money purchase scheme may not be required to submit a supervisory return more than once in any 12 month period.
5
Article 10 of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) (civil penalties) applies to a trustee who fails to submit a supervisory return when required to do so.
6
Regulations under subsection (2) are subject to negative resolution.