Part 1 of the Pension Schemes Act 2021 provided the legislative framework to introduce collective money purchase pension schemes to Great Britain. Part 2 provided corresponding legislation for Northern Ireland.
The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024 (“the Principal Regulations”) came into force on 26th January 2024. They implemented an authorisation and supervisory regime for collective money purchase schemes (a new type of workplace pension scheme).
The Occupational Pension Schemes (Collective Money Purchase Schemes) (Amendment) Regulations (Northern Ireland) 2024 make largely technical amendments to the Principal Regulations.
Exisiting/Revised/New: Revised
Date of Screening: 19/06/2024
Screening Outcome - Full EQIA recommended: No
The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024