The Occupational and Personal Pension Schemes (General Levy) (Amendment) Regulations (Northern Ireland) 2024 - screening

Section 170 of the Pension Schemes (Northern Ireland) Act 1993 allows for the administration costs of the Pensions Regulator and the Pensions Ombudsman, and in part the Money and Pensions Service to be recovered by means of an annual general levy on occupational and personal pension schemes.  The Regulator, the Ombudsman and the Money and Pensions Service play a vital role in ensuring that scheme members’ interests are safeguarded and that members have access to impartial advice.  The rate of the general levy is set out in Regulations and is reviewed annually.