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The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 2014

Type Ni-Statutory-Rule

Publication 2014-03-13

Last updated 2025-12-04

State In force

Jurisdiction Northern Ireland

Department Government Printer for Northern Ireland

Source legislation.gov.uk

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Made: 13th March 2014

Coming into operation: 6th April 2014

The Department for Social Development makes the following Regulations in exercise of the powers conferred by sections 109, 164(1) and (4), 177(2) to (4) and 178(1) of the Pension Schemes (Northern Ireland) Act 1993[^f00001], Articles 10(3), 41(1), (5), (5A) and (6) and 166(1) to (3) of the Pensions (Northern Ireland) Order 1995[^f00002] and Articles 3(1)(b), 21(1)(a), (b)(i) and (c)(i) and (2), 31(1)(b)(ii), 42(1) and 73(3) and (4) of the Welfare Reform and Pensions (Northern Ireland) Order 1999[^f00003], and now vested in it[^f00004].

PART 1 — General

Citation, commencement and expiry

1

(1) These Regulations may be cited as the Occupational and Personal Pension Schemes (Disclosure of Information) Regulations (Northern Ireland) 2014 and shall come into operation on 6th April 2014.

(2) On 6th April 2015 the following provisions cease to have effect—

(a) paragraphs 2 and 3 of Schedule 6, and

(b) paragraph 11(1)(b) and (2) of Schedule 8.

Interpretation

2

(1) In these Regulations—

“the 1993 Act” means the Pension Schemes (Northern Ireland) Act 1993;

“the 1995 Order” means the Pensions (Northern Ireland) Order 1995;

“the 1999 Order” means the Welfare Reform and Pensions (Northern Ireland) Order 1999;

“the 2005 Order” means the Pensions (Northern Ireland) Order 2005[^f00005];

“the 2014 Act” means the Public Service Pensions Act (Northern Ireland) 2014[^f00005];

“the 2021 Act” means the Pension Schemes Act 2021;

“accrued rights”—in relation to an occupational pension scheme, has the meaning given in Article 121(2) of the 1995 Order, andin relation to a personal pension scheme, means rights that have accrued under the scheme;

“actuarial valuation”, in relation to a collective money purchase scheme, has the meaning given by section 71(2) of the 2021 Act;

“the available assets of the scheme”, in relation to a collective money purchase scheme, has the meaning given by section 53(2) of the 2021 Act;

“beneficiary” means a person, other than a member, who is entitled to the payment of benefits under the scheme;

“cash balance benefit” has the meaning given in section 75 of the Pension Schemes Act 2015[^f00007];

“collective money purchase scheme” means a scheme or a section of a scheme which is a collective money purchase scheme for the purposes of Part 2 of the 2021 Act (collective money purchase benefits: Northern Ireland);

“drawdown pension” has the meaning given in paragraph 4 of Schedule 28 to the Finance Act 2004[^f00008];

“electronic communication” has the meaning given in section 4(1) of the Electronic Communications Act (Northern Ireland) 2001[^f00006];

“excluded person” means a member or beneficiary—whose present postal address and electronic address are not known to the trustees or managers of the scheme, andin respect of whom the trustees or managers of the scheme have sent correspondence to that member’s or beneficiary’s last known—postal address and that correspondence has been returned, orelectronic address and the trustees or managers of the scheme are satisfied that that correspondence has not been delivered;

“flexible benefit” has the meaning given in section 74 of the Pension Schemes Act 2015;

“HMRC” means the Commissioners for Her Majesty’s Revenue and Customs;

“ill-health condition” has the meaning given in paragraph 1 of Schedule 28 to the Finance Act 2004;

“illustration date” means the date specified by the trustees or managers of the scheme as the date by reference to which amounts are calculated for the purpose of giving the information in Part 2 of Schedule 6 and in Schedule 6A;

“lifestyling” means an investment strategy that aims progressively to reduce the potential for significant variation caused by market conditions in the value of the member’s rights;

“member”—in relation to an occupational pension scheme, has the meaning given in Article 121(1)[^f00007] of the 1995 Order, andin relation to a personal pension scheme, means a member of the scheme;

“multi-annual reduction” has the meaning given by regulation 2 of the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2022;

“prospective member” means a person who, under the terms of that person’s contract of service or the scheme rules or both—can choose to become a member of the scheme;will be able to choose to become a member of the scheme if that person continues in the same employment for a certain period of time;will become a member of the scheme automatically unless that person chooses not to become a member of the scheme, orcan become a member of the scheme if that person’s employer consents;

“normal minimum pension age” has the meaning given in section 279(1) of the Finance Act 2004;

“pensions guidance” means information or guidance provided by any person in pursuance of the requirements mentioned in section 4 of the Financial Guidance and Claims Act 2018 (specific requirements as to the pensions guidance function);

“recipient” means the person, organisation or body to whom these Regulations require information or documents to be made available;

“recognised trade union” means an independent trade union (within the meaning given in Article 2(3) of the Employment Rights (Northern Ireland) Order 1996[^f00008]) that is recognised to any extent for the purposes of collective bargaining in relation to members and prospective members of a scheme;

“the Regulator” means the Pensions Regulator[^f00009] established under section 1 of the Pensions Act 2004[^f00010];

“relevant employment” means any employment to which the scheme relates;

“relevant guidance” means the document entitled “AS TM1: Statutory Money Purchase Illustrations” that is adopted or prepared, and from time to time revised, by the Financial Reporting Council Limited[^f00011];

“relevant person” means a—member or prospective member of the scheme;spouse or civil partner of a member or prospective member;beneficiary of the scheme;recognised trade union;

“retirement date” has the meaning given in regulation 19(5);

“scheme year” means, in relation to an occupational pension scheme—a year specified for the purposes of the scheme in any scheme document or, if there is no such year specified, a period of 12 months commencing on 1st April or on such other date as the trustees choose, ora period between 6 and 18 months specified by the trustees in connection with—the commencement or termination of the scheme, ora variation of the date on which the period referred to in paragraph (a) is to commence;

“survivor” has the meaning given in section 76(1) of the Pension Schemes Act 2015 (interpretation of Part 4);

“tax registered scheme” means a scheme that—is registered under section 153 of the Finance Act 2004[^f00012] (registration of pension schemes);was formerly registered under that section;is deemed to be registered under that section by virtue of paragraph 1 of Schedule 36 to that Act (pension schemes etc: transitional provisions and savings), orhas applied for registration under that section and HMRC have not decided whether to register the scheme;

“transferrable rights” has the meaning given in section 89(11)(b)[^f00010] of the 1993 Act (scope of Chapter 1);

“unfunded public service defined benefits scheme” has the meaning given in section 91(2C) of the 1993 Act;

“wholly insured scheme” means a scheme under which all the benefits provided are secured by a policy or policies of insurance or annuity contract or contracts.

(1A) In these Regulations—

(a) a member has an opportunity to transfer flexible benefits where—

(i) the member—

(aa) has transferrable rights in relation to flexible benefits, or

(bb) would have transferrable rights in relation to flexible benefits if the member stopped accruing rights to some or all of the flexible benefits (see sub-paragraph (b)),

and the making of a transfer or transfer payment in respect of the flexible benefits is not prohibited by Article 119(4)(a) of the 2005 Order, or

(ii) the member has an opportunity to transfer accrued rights to flexible benefits out of the scheme under the scheme rules;

(b) a member stops accruing rights to flexible benefits when there are no longer arrangements in place for the accrual of rights to those flexible benefits for or in respect of the member.

(2) Subject to paragraph (3), the Interpretation Act (Northern Ireland) 1954[^f00013] shall apply to these Regulations as it applies to an Act of the Assembly.

(3) For the purposes of these Regulations and notwithstanding section 39(2) of the Interpretation Act (Northern Ireland) 1954, where a period of time is expressed to begin on, or to be reckoned from, a particular day, that day shall be included in the period.

Recognised trade union

3

Where there is a question about whether an organisation is a recognised trade union, that question must be referred to an industrial tribunal.

Application of these Regulations

4

(1) Subject to paragraphs (2), (3), (6) and (9), the trustees or managers of an occupational pension scheme that falls within paragraph 1 of Schedule 1 must give information in accordance with regulations 6, 8, 9 to 17, 18 to 22, 24 and 25 and, where the scheme falls within Article 35 of the 1995 Order (investment principles) or the scheme is a relevant scheme within the meaning of the Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997, regulation 29A.

(2) Regulations 9, 10, 12, 13 and 15 do not apply to a public service pension scheme[^f00014] if—

(a) there are no requirements for assets related to the intended rate or amount of benefit under the scheme to be set aside in advance (disregarding requirements relating to additional voluntary contributions);

(b) it is made under Article 9 of the Superannuation (Northern Ireland) Order 1972[^f00015] (superannuation of persons employed in local government service, etc.) or it is a defined benefits scheme under section 1 of the 2014 Act (schemes for persons in public service) in relation to persons specified in subsection (2)(c) of that section, or

(c) it is established under section 48 of the Northern Ireland Act 1998 (pensions of members), or was established under Part 2 of the Ministerial Salaries and Members’ Pensions Act (Northern Ireland) 1965[^f00016] or Article 3 of the Assembly Pensions (Northern Ireland) Order 1976[^f00017].

(3) Regulation 17 does not apply to a stakeholder pension scheme within the meaning of Article 3[^f00018] of the 1999 Order.

(4) Subject to paragraph (6), the trustees or managers of a pension scheme that is—

(a) an occupational pension scheme that does not fall within paragraph 1 of Schedule 1, or

(b) established under the Salvation Army Act 1963[^f00019],

must give information in accordance with regulation 7.

(5) Subject to paragraphs (3) and (6), the managers of a personal pension scheme that falls within paragraph 2 of Schedule 1 must give information in accordance with regulations 10, 17 , 18, 21 and 23.

(6) Paragraphs (1), (4) and (5) and regulations 8A, 17A, 22A, 22B and 29B do not require the trustees or managers of a scheme to give information to—

(a) a member or prospective member if no person who employs that member in relevant employment has informed the trustees or managers of the scheme that that member is a member or prospective member;

(b) a recognised trade union if no person who employs a member or prospective member in relation to whom the trade union is a recognised trade union has informed the trustees or managers of the scheme that the trade union is a recognised trade union, or

(7) Except where information is given verbally in accordance with regulation 18B(3) or 18C(4) or (7), when any information is given in accordance with paragraph (1), (4) or (5) or regulations 8A, 17A, 22A, 22B or 29B, it must be accompanied by the postal address and electronic address to which a person should send requests for further information or any other enquiry.

(8) In this regulation “defined benefits scheme” has the meaning given in section 34 of the 2014 Act.

(9) Regulations 12A, 17, 18B, 19 and 25 do not apply to a collective money purchase scheme.

(10) For the purposes of these Regulations, where a pension scheme is divided into sections, each section that is a collective money purchase scheme is to be treated as a separate scheme.

Civil penalties relating to occupational pension schemes

5

Where in relation to an occupational pension scheme a person fails without reasonable excuse to comply with any requirement imposed under these Regulations, the Regulator may, by notice in writing, require that person to pay, within 28 days, a penalty that must not—

(a) in the case of an individual, exceed £5,000, and

(b) in any other case, exceed £50,000.

PART 2 — Information for new and prospective members

Basic scheme information

6

(1) The basic scheme information mentioned in paragraph (2) must be given in accordance with this regulation.

(2) The basic scheme information is the information listed in —

(a) Part 1 of Schedule 2, and

(b) Part 3 of that Schedule where the scheme contains provision for lifestyling (see regulation 18).

(3) The information must be given to—

(a) prospective members, if it is practicable to do so, and

(b) members who have not already been given the information.

(4) The information must also be given to a relevant person who—

(a) makes a request for the information, and

(b) has not been given that information in the previous 12 months.

(5) Where the trustees or managers of the scheme have in relation to a member or prospective member received jobholder information, the information must be given within one month of the date that information was received.

(6) Where the trustees or managers of the scheme have not received jobholder information in relation to a member or prospective member, the information must be given within 2 months of the date the person became an active member of the scheme.

(7) Where the trustees or managers of the scheme have received a request for the information from a relevant person, the information must be given within 2 months of that request.

(8) No information is required to be given under this regulation to—

(a) a relevant person, except a recognised trade union, unless it is relevant to the person’s rights or prospective rights under the scheme, and

(b) a recognised trade union unless it is relevant to the rights or prospective rights of persons who are in that recognised trade union.

(9) In this regulation “jobholder information” means the information specified in regulation 3 of the Occupational and Personal Pension Schemes (Automatic Enrolment) Regulations (Northern Ireland) 2010[^f00020] (jobholder information).

Basic scheme information to be given by certain schemes

7

(1) The basic scheme information mentioned in paragraph (2) must be given in accordance with this regulation.

(2) The basic scheme information is the information listed in—

(a) Part 2 of Schedule 2, and

(b) Part 3 of that Schedule where the scheme contains provision for lifestyling (see regulation 18).

(3) The information must be given to—

(a) prospective members;

(b) members who have not already been given the information, and

(4) The information must be given to—

(a) a prospective member, if it is practicable to do so;

(b) a member within 2 months of membership beginning, and

PART 3 — Changes to information

Material alterations to basic scheme information

8

(1) The information mentioned in paragraph (2) must be given in accordance with this regulation where—

(a) there is a change in relation to the scheme, and

(b) that change results in a material alteration in the information listed in Part 1 of Schedule 2.

(2) The information is the information referred to in paragraph (1)(b) that has materially changed.

(3) The information must be given to all members and beneficiaries of the scheme, except excluded persons, and to a recognised trade union.

(4) The information must be given before or as soon as practicable after (and in any event within 3 months after) the change referred to in paragraph (1)(a) takes effect.

(5) No information is required to be given under this regulation to—

(a) relevant persons, except a recognised trade union, unless it is relevant to the person’s rights or prospective rights under the scheme, and

(b) a recognised trade union unless—

(i) it is relevant to the rights or prospective rights of persons who are in that recognised trade union, and

(ii) basic scheme information has already been given to the recognised trade union under regulation 6.

(6) This regulation does not apply where regulation 8A applies.

Modification by the Regulator

9

Active members must be informed of any modification to the scheme by the Regulator under Article 210(2)(a) of the 2005 Order (powers of the Regulator) within one month of the modification taking effect.

Former stakeholder pension schemes

10

(1) The information mentioned in paragraph (2) must be given in accordance with this regulation where a scheme is removed from the register of stakeholder pension schemes kept under Article 4[^f00021] of the 1999 Order.

(2) The information is a statement that the scheme—

(a) has been removed from the register;

(b) is no longer a stakeholder pension scheme, and

(3) The information must be given to members except excluded persons.

(4) The information must be given within no more than 2 weeks of the trustees or managers of the scheme being notified that the scheme has been removed from the register.

PART 4 — Information to be given on request

Constitution of the scheme

11

(1) The information listed in Part 1 of Schedule 3 must be given to a relevant person in accordance with this regulation where the relevant person makes a request for the information.

(2) The information must be given within 2 months of the date the request is made.

(3) The information must be given in accordance with regulation 29.

(4) Any document that must be given under paragraph (1) which is not in the English language must be accompanied by a translation in that language.

(5) No information is required to be given under this regulation—

(a) to relevant persons, except a recognised trade union, unless it is relevant to the person’s rights or prospective rights under the scheme;

(b) to a recognised trade union unless it is relevant to the rights or prospective rights of persons who are in that recognised trade union, and

(c) where the information has been given to the relevant person in the previous 12 months unless there has been a change in the information.

Annual report

12

(1) A document containing the information listed in Part 2 of Schedule 3 must be prepared within 7 months of the end of each scheme year (subject to paragraph (5)) and given in accordance with this regulation.

(2) The document must be given to a relevant person where the relevant person—

(a) makes a request for the document within 5 years of the end of the scheme year to which the information relates, and

(b) has not been given the document before.

(3) The document must be given within 2 months of the date the request is made.

(4) The document must be given in accordance with—

(a) regulation 26 or 29(3), where the document relates to the most recent scheme year, or

(b) regulation 29, where the document does not relate to that year.

(5) Where Article 35 of the 1995 Order (investment principles) applies to a scheme the following information must be made publicly available free of charge in accordance with regulation 29A—

(a) the information listed in paragraph 30(ca) of Schedule 3 but only if the scheme is not a relevant scheme within the meaning of regulation 1(2) of the Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997 (interpretation), or

(b) the information listed in paragraph 30(f) of that Schedule but only if the scheme is a relevant scheme within the meaning of that regulation.

Other information to be given on request

13

(1) The information listed in Part 3 of Schedule 3 must be given to a relevant person in accordance with this regulation where the relevant person makes a request for the information.

(2) The information must be given within 2 months of the date the request is made.

(3) The information must be given in accordance with regulation 29.

Transfer credits

14

(1) The information listed in Part 4 of Schedule 3 must be given in accordance with this regulation.

(2) Subject to paragraph (3), the information must be given to any member or prospective member who makes a request for it.

(3) Paragraph (2) does not apply where the request mentioned in that paragraph is made less than 12 months after the last occasion on which such information was given.

(4) The information must be given within 2 months of the date the request is made.

PART 5 — Funding statements, benefit statements and illustrations

Summary funding statements

15

(1) The information listed in Schedule 4, in the form of a summary funding statement, must be given in accordance with this regulation where the trustees or managers of the scheme have obtained an actuarial valuation or report under Article 203 of the 2005 Order.

(2) The information must be given to all members and beneficiaries of the scheme except—

(a) excluded persons, and

(b) members or beneficiaries whose only entitlement to benefits under the scheme is, or will be, to money purchase benefits.

(3) The information must be given on, before, or within a reasonable period after, the date by which the trustees or managers of the scheme are required under Article 203 of the 2005 Order to ensure that the valuation or report is received by them.

Statements of benefits: non-money purchase benefits

16

(1) The information mentioned in paragraph (2) must be given in accordance with this regulation where—

(a) the member has rights to benefits that are not money purchase benefits;

(b) the member requests that information;

(d) in relation to active members, a benefit information statement has not been provided pursuant to section 14(1) of the 2014 Act (information about benefits) in the 12 months before the request in sub-paragraph (b).

(2) The information is—

(a) for active members, the information listed in Parts 1 and 2 of Schedule 5;

(b) for deferred members, the information listed in Parts 2 and 3 of that Schedule;

(3) The information must be given as soon as practicable and in any event no more than 2 months after the date the request is made.

(4) In this regulation “pension credit member” means a person who has rights under the scheme that are attributable (directly or indirectly) to a credit under Article 26(1)(b) of the 1999 Order (creation of pension debits and credits) or under section 29(1)(b) of the Welfare Reform and Pensions Act 1999[^f00022].

Statements of benefits: money purchase benefits

17

(1) Information relating to a member’s money purchase benefits must be given in accordance with this regulation to a member who—

(a) has rights to money purchase benefits, and

(b) is not an excluded person.

(2) The information listed in Part 1 of Schedule 6 must be given.

(3) The information listed in paragraphs 6 to 8 of Schedule 6 must be given except where paragraph (6) applies.

(4) Where paragraph (6) applies, the information listed in paragraphs 6 to 8 of Schedule 6 may be given.

(5) Where the information listed in paragraphs 6 to 8 of Schedule 6 is given under paragraph (3) or (4), the information listed in—

(a) paragraphs 9 to 14 of that Schedule must be given with that information, and

(b) Part 3 of that Schedule must be given.

(6) This paragraph applies where—

(a) the member is in receipt of benefits under the scheme;

(b) the date referred to in paragraph 4 of Schedule 6 is not more than 2 years before the member’s retirement date for the purpose of Part 2 of Schedule 6;

(i) the value, determined in accordance with the relevant guidance, of the member’s accrued rights to money purchase benefits under the scheme was less than £5,000 on the last illustration date in respect of which the information listed in Part 2 of Schedule 6 was last given;

(ii) since that previous illustration date, no contributions (including transfers of pension rights or pension credits) have been made to the scheme by, or on behalf of, the member in respect of the member’s money purchase benefits, and

(iii) the trustees or managers of the scheme have previously given notice to the member that the information listed in Part 2 of Schedule 6 will not be given to the member again unless further contributions referred to in head (ii) have been made;

(d) in relation to the member—

(i) on the first illustration date after 5th April 2003, the value, determined in accordance with the relevant guidance, of the member’s accrued rights to money purchase benefits under the scheme was less than £5,000;

(ii) no contributions, including transfers of pension rights and pension credits, have been made to the scheme by, or on behalf of, the member after 5th April 2003 in respect of the member’s money purchase benefits, and

(iii) the trustees or managers of the scheme think that no further such contributions are likely to be made after that illustration date, or

(e) the member’s benefit is calculated by reference to the greater of a money purchase formula and a defined benefit formula and the trustees or managers of the scheme think the benefit calculated using the money purchase formula is unlikely to affect the pension payable.

(7) The information to be given under paragraphs (2) to (5) must be given within 12 months of—

(a) in the case of an occupational pension scheme, the end of each scheme year except where paragraph (9) applies, and

(b) in the case of a personal pension scheme—

(i) the date—

(aa) the person became a member of the scheme, or

(bb) contributions were first credited to the scheme in respect of the person, and

(ii) each subsequent anniversary of that date.

(8) Where paragraph (9) applies, the information mentioned in paragraphs (2) to (5) may be given.

(9) This paragraph applies where—

(a) the scheme year is the first to end on or after the date the person became a member of the scheme, and

(b) the end of that scheme year falls at a time when—

(i) no contributions have been credited to the scheme in respect of the person, or

(ii) the person has the right to opt out of the scheme under section 8 of the Pensions (No. 2) Act (Northern Ireland) 2008[^f00023].

(10) For the purposes of paragraph (6), a part of an occupational pension scheme that provides additional money purchase benefits where the member pays voluntary contributions to that part is to be treated as a separate scheme from any other part of that scheme.

(11) Paragraph (12) applies where—

(a) information must be given in accordance with this regulation by the trustees or managers of an automatic enrolment scheme to a member, and

(b) the automatic enrolment scheme is a scheme under which all the benefits which may be payable are money purchase benefits.

(12) Where this paragraph applies—

(a) the prescribed information must be set out in the form of a statement;

(b) the prescribed information, and any other information which is included as part of that statement, must not exceed one double-sided sheet of A4-sized paper (being one double-sided sheet of paper with the dimensions 210 by 297 millimetres) when printed, and

(c) the trustees or managers of the scheme must have regard to guidance published from time to time by the Department concerning content and layout.

(13) The trustees or managers of the scheme may give the prescribed information in a format which does not comply with paragraph (12) in response to a request by a member for it to be provided in an alternative format, where the trustees or managers are reasonably satisfied that it is necessary to do so to comply with their duties under Articles 62 to 66 of the 1995 Order (equal treatment).

(14) For the purposes of paragraphs (12) and (13), prescribed information is the information concerning the member’s money purchase benefits given under paragraphs (2) to (5) within the prescribed time in paragraph (7).

(15) For the purposes of paragraph (11)—

“automatic enrolment scheme” has the meaning given in section 78 of the Pensions (No. 2) Act (Northern Ireland) 2008;

“member” does not include a member who is in receipt of benefits under an automatic enrolment scheme (within the meaning in this paragraph).

PART 6 — Lifestyling and accessing benefits

Lifestyling

18

(1) The information listed in Part 3 of Schedule 2 must be given to a member in accordance with this regulation where the scheme contains provision for lifestyling.

(2) The information must, subject to paragraph (3), be given between 5 and 15 years before the member’s retirement date.

(3) Information need not be given under paragraph (2) where it has been given in the previous 12 months under regulation 6.

First information on accessing benefits

19

(1) The information mentioned in paragraph (2) must be given in accordance with this regulation to a member who has a right or entitlement to flexible benefits .

(2) The information is—

(a) where the member has been given information in accordance with regulation 18A in the 12 months before the date on which the trustees or managers of the scheme give information under this regulation—

(i) a statement that the member has been given information about—

(aa) the flexible benefits that may be provided to the member;

(bb) the member’s opportunity to transfer those benefits, and

(cc) the options available to the member under the scheme rules, and

(ii) that listed in paragraphs 1 to 9 of Schedule 9A, and

(b) in any other case—

(i) a statement of the options available to the member under the scheme rules, and

(ii) where the member has an opportunity to transfer flexible benefits, that listed in Part 3 of Schedule 7 and in Schedule 9A.

(3) The information must be given at least 4 months before—

(a) where there is a retirement date, that date, or

(b) where there is no retirement date, the date the member attains normal pension age[^f00024].

(4) For the purposes of paragraph (3), where the interval between the date on which the retirement date is specified and the date that the benefits will become payable is less than 4 months, the information must be given within 20 days of the date on which the retirement date is specified.

(5) In this regulation “retirement date” means the date specified by—

(a) the member to the trustees or managers of the scheme that is acceptable under the rules of the scheme, or

(b) the trustees or managers of the scheme where no acceptable date has been specified under sub-paragraph (a).

Second information on accessing benefits

20

(1) The information mentioned in paragraph (2) must be given to a person in accordance with this regulation where benefit under the scheme has, or is about to, become payable to the person.

(2) The information is the information listed—

(a) in paragraphs 6 to 9 of Schedule 7;

(b) in Part 1 of that Schedule where the person has an opportunity to select an annuity under any rights and options in relation to the death of the member, and

(c) in Part 1 of Schedule 9A where the person, under any rights and options in relation to the death of the member, has an opportunity to—

(i) transfer accrued rights to flexible benefits out of the scheme under the scheme rules;

(ii) apply sums or assets held for the purpose of providing flexible benefits for purchasing an annuity;

(iii) take payment of a lump sum in respect of flexible benefits, or

(iv) designate sums or assets held for the purpose of providing flexible benefits as available for the payment of drawdown pension.

(3) The information mentioned in paragraph (2)(a) must be given—

(a) where benefit becomes payable on or after normal pension age before benefit becomes payable, if practicable and in any event within one month after benefit becomes payable, or

(b) where benefit becomes payable on a date before normal pension age, within 2 months of that date.

(4) Before benefit becomes payable—

(a) the information mentioned in sub-paragraph (b) of paragraph (2) must be given to a person having the opportunity mentioned in that sub-paragraph;

(b) the information mentioned in sub-paragraph (c) of paragraph (2) must be given to a person having an opportunity mentioned in that sub-paragraph.

Accessing benefits on the death of the member or beneficiary

21

(1) The information mentioned in paragraph (2) must be given in accordance with this regulation where the trustees or managers of the scheme are aware that—

(a) a member or beneficiary of the scheme has died, and

(b) a person may be entitled to exercise rights or options under the scheme as a result of that death.

(2) The information is the information listed in—

(a) Part 1 of, and paragraphs 8 to 10 of, Schedule 7 where the person referred to in paragraph (1)(b) has an opportunity to select an annuity;

(b) Part 2 of that Schedule in any other case, and

(i) transfer accrued rights to flexible benefits out of the scheme under the scheme rules;

(ii) apply sums or assets held for the purpose of providing flexible benefits for purchasing an annuity;

(iii) take payment of a lump sum in respect of flexible benefits, or

(iv) designate sums or assets held for the purpose of providing flexible benefits as available for the payment of drawdown pension.

(3) The information must be given to—

(a) the person referred to in paragraph (1)(b), if that person is at least 18 years old and the trustees or managers of the scheme know that person’s postal address or electronic address, and

(b) subject to paragraph (4), a person who is—

(i) a personal representative of the member or beneficiary of the scheme, or

(ii) authorised to act on behalf of the person referred to in paragraph (1)(b).

(4) For the purposes of paragraph (3), the information—

(a) must be given only where the personal representative or the person authorised to act requests it, and

(b) need not be given where a request is made within 3 years of the same information being given under this regulation to the same person in the same capacity.

(5) The information must be given as soon as practicable and in any event within 2 months of—

(a) the date on which the trustees or managers of the scheme become aware of the death, or

(b) the request referred to in paragraph (4).

PART 7 — Information about benefits in payment

Changes to benefits

22

(1) The information listed in paragraphs 6, 8 and 9 of Schedule 7 must be given to a person in accordance with paragraph (2) where—

(a) the amount of benefit payable to the person alters, and

(b) that alteration is not made in accordance with the provisions referred to in paragraph 7(b) of Schedule 7.

(2) The information must be given before the date on which the decision to alter the benefit takes effect, where practicable and in any event within one month of that date.

(3) This regulation does not apply where regulation 22B applies.

PART 8 — Information about winding up

Personal pension schemes that have begun winding up

23

(1) The information mentioned in paragraph (3) must be given to members, except excluded persons, in accordance with this regulation.

(2) The information must be given where a decision has been made to wind up the scheme or to cease accepting contributions or to cause the scheme to cease to manage the contributions already paid to it (“the decision”).

(3) The information is—

(a) notification of the decision;

(b) the information listed in paragraphs 11 to 13 of Schedule 8;

(c) the information listed in paragraph 14 of Schedule 8 where the scheme is unable to meet in full its liabilities to its members.

(4) The information must be given as soon as practicable after the decision and, in any event—

(a) the notification referred to in paragraph (3)(a) must be given within one month, and

(b) the information mentioned in paragraph (3)(b) and (c) must be given within 4 months,

of the decision.

Occupational pension schemes during winding up

24

(1) The information mentioned in paragraph (2) must be given to members and beneficiaries of the scheme, except excluded persons, in accordance with this regulation where the trustees have begun to wind up the scheme.

(2) The information is the information listed in—

(a) Part 1 of Schedule 8;

(b) paragraphs 5, 6 and 7 of that Schedule;

(3) Where the trustees begin to wind up the scheme on a date on or after 6th April 2014—

(a) the information mentioned in paragraph (2)(a) must be given as soon as practicable and in any event within no more than one month of that date, and

(b) the information mentioned in paragraph (2)(b) must be given within every 12 months of the date information was given under sub-paragraph (a) until the trustees complete winding up the scheme.

(4) Where the trustees began to wind up the scheme before 6th April 2014, the information mentioned in paragraph (2)(b) must be given within 12 months of 6th April 2014 and within every 12 months thereafter until the trustees complete winding up the scheme.

(5) Where a request is made for the information mentioned in paragraph (2)(c), it must be given within 2 months of the date the request is made.

(6) For the purposes of this regulation, the date the trustees begin to wind up the scheme is to be determined—

(za) in relation to a collective money purchase scheme, in accordance with paragraph 4 of Schedule 6 to the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2022 (continuity option 1: transfer out and winding up);

(a) in a case where regulation 2 of the Occupational Pension Schemes (Winding Up) Regulations (Northern Ireland) 1996[^f00025] (commencement of winding up) applies, in accordance with that regulation, and

(b) in any other case, in accordance with Article 121(4)[^f00026] and (5) of the 1995 Order.

(7) Where a scheme is a sectionalised scheme, this regulation applies as if—

(a) each section of the scheme were a separate scheme, and

(b) the members of each section were the members of a separate scheme.

(8) For the purposes of paragraph (7), a sectionalised scheme is a scheme where—

(a) Part 4 of the 2005 Order applies to the scheme as if a section of a scheme were a separate scheme by virtue of paragraph 1 of Schedule 2 to the Occupational Pension Schemes (Scheme Funding) Regulations (Northern Ireland) 2005[^f00027] (sectionalised multi-employer schemes), or

(b) Part 4 of the 2005 Order does not apply to the scheme, but would apply in that way if it did.

Occupational pension schemes after winding up for individual members

25

(1) The information mentioned in paragraph (2) must be given in accordance with this regulation where—

(a) the scheme is being wound up, and

(b) the trustees or managers of the scheme have done what they can to discharge the scheme’s liabilities for a particular member or beneficiary of the scheme.

(2) The information is—

(a) where the member or beneficiary of the scheme—

(i) has rights to benefits other than money purchase benefits, the information mentioned in Part 2 of Schedule 8, or

(ii) has rights to money purchase benefits, the information mentioned in paragraph 10 of Schedule 8, and

(b) where the member or beneficiary of the scheme is, for the time being—

(i) entitled to payment of benefits, the information listed in paragraphs 6 and 7 of Schedule 7, or

(ii) except in relation to money purchase benefits, not entitled to payment of benefits, the information listed in paragraph 16 of Schedule 8.

(3) The information mentioned in paragraph (2) must be given to the member or beneficiary of the scheme except that an excluded person need not be given the information mentioned in paragraph (2)(b)(ii).

(4) The information must be given as soon as practicable after, and in any event within no more than 3 months of, the date paragraph (1)(b) is satisfied.

PART 9 — Giving information and documents

Giving information and documents

26

(1) Except where these Regulations otherwise provide, the methods for giving information or documents that these Regulations require to be given include the methods set out in paragraph (2).

(2) The information may be given by—

(a) sending it (including by ordinary post) to the person’s last known postal address, or

(b) subject to paragraphs (3) to (5), using either or both of the following methods—

(i) sending it to the person’s last known electronic address;

(ii) making it available on a website (see regulation 27).

(3) Where a member or beneficiary of the scheme has requested in writing that—

(a) any of the information, or

(b) all of the information,

is not given in accordance with paragraph (2)(b), that information may not be given in accordance with paragraph (2)(b).

(4) Information may only be given by an electronic communication where the trustees or managers of the scheme are satisfied that the electronic communications have been designed—

(a) so that the person will be able to—

(i) get access to, and

(ii) store or print,

the information, and

(b) taking into account the requirements of disabled persons.

(4A) The provisions of paragraph (4) do not apply where regulation 29A or 29B applies to the information.

(5) Where—

(a) a member or beneficiary of the scheme was a member or beneficiary of the scheme on 1st December 2010, and

(b) information was not given by the trustees or managers of the scheme before that date by the methods described in paragraph (2)(b),

information may not be given to that member or beneficiary of the scheme in accordance with paragraph (2)(b) unless the trustees or managers of the scheme have given that member or beneficiary the written notice referred to in paragraph (6).

(6) The written notice mentioned in paragraph (5) must state that—

(a) the trustees or managers of the scheme propose to give information to the member or beneficiary of the scheme by means of an electronic communication, and

(b) the member or beneficiary of the scheme may request in writing that information is not given by means of an electronic communication.

(7) The written notice mentioned in paragraph (5) must not be given by the methods mentioned in paragraph (2)(b).

Provision of information on a website

27

(1) Except where regulations 29A and 29B provide otherwise, where a website is used for the first time to make available the information or document, a notification must be given to the recipient.

(2) The notification referred to in paragraph (1) must include—

(a) a statement that the information or document is available on the website;

(b) the website address;

(d) an explanation of how the recipient may read the information or document on the website.

(3) Subject to regulation 28, each time a website is used at a subsequent time to make available information or documents, a notification must be given to the recipient.

(4) The notification referred to in paragraph (3) must state that the information or document is available on the website.

(5) The notifications mentioned in paragraphs (1) and (3) must not be given by making them available on a website.

Provision of information on a website: supplemental

28

(1) The notification mentioned in regulation 27(3) need not be given where paragraphs (2) to (4) are satisfied.

(2) This paragraph is satisfied where—

(a) the trustees or managers of the scheme have given the recipient at least 2 documents by either of the following methods—

(i) given by hand, or

(ii) sent to the recipient’s last known postal address, and

(b) each of those documents—

(i) asks the recipient to give that recipient’s electronic address to the trustees or managers of the scheme except where the trustees or managers of the scheme do not have the facility for sending information or documents to that address, and

(ii) states that the recipient may request in writing that information or documents are not given by means of an electronic communication.

(3) This paragraph is satisfied where—

(a) paragraph (2) is satisfied, and

(b) the trustees or managers of the scheme have given the recipient, by either of the methods mentioned in paragraph (2)(a), a further document that—

(i) meets the requirements of paragraph (2)(b), and

(ii) states that further information and documents will be available to read on the website and that no further notifications will be sent to the recipient.

(4) This paragraph is satisfied where—

(a) paragraphs (2) and (3) are satisfied, and

(b) the trustees or managers of the scheme—

(i) do not know the recipient’s electronic address or do not have the facility for sending information or documents to that address, and

(ii) have not received a written request that information or documents are not given to the recipient by means of an electronic communication.

(5) Where the information to be made available is that required by regulation 17(1), the notification mentioned in regulation 27(3) need only be given as required by regulation 17(7).

Giving information and documents in certain cases

29

(1) Information or documents to be given in accordance with this regulation are to be given as follows.

(2) Where the person or recognised trade union makes a request for the information in hard copy form, the trustees or managers of the scheme must, subject to paragraph (3), give the information in that form and if a charge is levied for giving the information in that form, it must not exceed the cost of producing and giving it.

(3) Where the information in hard copy form is publicly available, the trustees or managers of the scheme may give details of where it is publicly available instead of giving it under paragraph (2).

(4) Where the person or recognised trade union makes a request for the information other than in hard copy form, it may be made available free of charge—

(a) for inspection at a place that is reasonable having regard to who made the request, or

(b) on a website.

(5) For the purposes of paragraph (4)(b), the provisions of regulations 27 and 28 do not apply except that the trustees or managers of the scheme must give the notification described in regulation 27(2) to the person or recognised trade union who requested the information.

(6) Information is in “hard copy form” if it is given in a paper copy or similar form capable of being read.

Responsibility for giving information and documents

30

The trustees or managers of a scheme are responsible for ensuring that information or documents are given in accordance with these Regulations whether they give the information or documents—

(a) directly, or

(b) indirectly through a third party.

PART 10 — Consequential amendments and revocations

Consequential amendments

31

Schedule 9 shall have effect.

Consequential revocations

32

The provisions specified in column (1) of Schedule 10 are revoked to the extent specified in column (3).

SCHEDULE 1 — Description of schemes

1

(1) An occupational pension scheme falls within this paragraph if it meets the following conditions.

(2) The first condition is that the scheme—

(a) is a tax registered scheme;

(b) was formerly—

(i) approved by HMRC for the purposes of section 590 or 591 of the Income and Corporation Taxes Act 1988[^f00028];

(ii) a statutory scheme as defined in section 611A[^f00029] of that Act, or

(iii) approved by HMRC under Chapter 4 of Part 14[^f00030] of that Act;

(d) is a public service pension scheme[^f00033].

(3) The second condition is that the scheme—

(a) has 2 or more members;

(b) does not provide only death benefits;

(d) is not established by the Salvation Army Act 1963[^f00034].

2

A personal pension scheme falls within this paragraph if it is not a pension scheme that is—

(a) either—

(i) set up or established in an annuity contract, or

(ii) a trust scheme, and

(b) to be treated as becoming a registered pension scheme under section 153(9) of the Finance Act 2004[^f00035] (registration of pension schemes) in accordance with paragraph 1(1)(f) of Schedule 36 to that Act (deemed registration of existing schemes).

SCHEDULE 2 — Basic information

PART 1 — Information to be given by occupational pension schemes that fall within paragraph 1 of Schedule 1

1

The conditions persons must meet to become members of the scheme and a summary of the categories of persons who are eligible to become members of the scheme.

2

How persons who are eligible to be members of the scheme are admitted to it.

3

A summary of what can be done with a member’s accrued rights where the member leaves pensionable service before normal pension age, including whether accrued rights can be transferred out of the scheme, converted into an annuity, designated as available for the payment of drawdown pension and commuted to a lump sum.

4

A statement relating to the matters mentioned in paragraph 3—

(a) as to whether a charge may be made, and

(b) that further information is available on request.

5

Whether the scheme is a tax registered scheme or, if not, whether an application for the scheme to become a tax registered scheme is under consideration by HMRC.

6

A statement that explains whether transfers can be made into the scheme, including whether such transfers can be made in accordance with Chapters 1 and 2 of Part 4ZA of the 1993 Act.

7

The arrangements, if any, for the payment by members of additional voluntary contributions.

8

A summary of how the contributions, if any, payable by the employer and the member are calculated.

9

Where the scheme is the National Employment Savings Trust Corporation established under section 75(1) of the Pensions Act 2008[^f00037], a statement of the maximum amount, if any, of contributions that may be paid in any tax year in relation to a member of the scheme.

10

A statement that—

(a) the Money and Pensions Service [^f00038] is available at any time to assist members and beneficiaries with—

(i) pensions questions, and

(ii) issues they have been unable to resolve with the trustees or managers of the scheme;

(b) the Pensions Ombudsman[^f00039] may investigate and determine certain complaints or disputes about pensions that are referred to the Pensions Ombudsman in accordance with the 1993 Act, and

(c) the Regulator may intervene in the running of schemes where trustees, managers, employers or professional advisers have failed in their duties.

11

The postal address and electronic address at which each of the bodies referred to in paragraph 10 may be contacted.

12

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13

If a member of the scheme has to give a period of notice to terminate that member’s pensionable service, the length of that period of notice.

14

Whether, and if so on what conditions (if any), a member of the scheme, whose pensionable service has terminated before normal pension age, may re-enter pensionable service.

15

The following information about benefits payable under the scheme (referred to in this paragraph as “benefits”)—

(a) what the benefits are;

(b) how benefits are calculated;

(d) how and when benefits in payment are increased or decreased, if appropriate;

(e) the rate at which rights to benefits accrue, if appropriate;

(f) the conditions on which benefits are payable;

(g) when benefits (including survivor’s benefits) are payable.

16

Where the member has money purchase benefits, a statement that the value of the pension will depend on several factors including where appropriate the amount of the contributions paid, any cost of exercising any right to transfer the benefits, any charges payable, the age at which the member accesses the benefits, the performance of investments and any cost of converting the benefit into an annuity.

17

Except where the scheme is a public service pension scheme, a statement that the scheme annual report will be given on request.

18

(1) The scheme’s internal dispute resolution arrangements.

(2) The postal address or electronic address and job title of the person who should be contacted to use those arrangements.

(3) This paragraph does not apply to a scheme within Article 50(8) of the 1995 Order[^f00041] (requirement for dispute resolution arrangements).

PART 2 — Information to be given by occupational pension schemes not falling within paragraph 1 of Schedule 1 and schemes that are established under the Salvation Army Act 1963

19

The following information about benefits payable under the scheme (referred to in this paragraph as “benefits”)—

(a) what the benefits are;

(b) how benefits are calculated;

(d) how and when benefits in payment are increased, if appropriate;

(e) the rate at which rights to benefits accrue, if appropriate;

(f) the conditions on which benefits are payable;

(g) when benefits (including survivor’s benefits) are payable.

20

A statement that explains whether transfers can be made into the scheme, including whether such transfers can be made in accordance with Chapters 1 and 2 of Part 4ZA of the 1993 Act.

21

A summary of what can be done with a member’s accrued rights where the member leaves pensionable service before normal pension age, including whether the accrued rights can be transferred out of the scheme, converted into an annuity, designated as available for the payment of drawdown pension and commuted to a lump sum.

22

A statement relating to the matters mentioned in paragraph 21—

(a) as to whether a charge may be made, and

(b) that further information is available.

23

(1) The scheme’s internal dispute resolution arrangements.

(2) The postal address or electronic address and job title of the person who should be contacted to use those arrangements.

(3) This paragraph does not apply to a scheme within Article 50(8) of the 1995 Order.

24

A statement that—

(a) the Money and Pensions Service is available at any time to assist members and beneficiaries with—

(i) pensions questions, and

(ii) issues they have been unable to resolve with the trustees or managers of the scheme;

(b) the Pensions Ombudsman may investigate and determine certain complaints or disputes about pensions that are referred to the Pensions Ombudsman in accordance with the 1993 Act, and

(c) the Regulator may intervene in the running of schemes where trustees, managers, employers or professional advisers have failed in their duties.

25

The postal address and electronic address at which each of the bodies referred to in paragraph 24 may be contacted.

26

A statement setting out—

(a) which benefits—

(i) are provided by means of the setting aside of resources (other than assets at the disposal of the employer of any person who is employed in relevant employment) for a benefit, before the benefit becomes payable, that are related to the intended rate or amount of benefit, and

(ii) are not provided by that means, and

(b) the manner in which any benefits mentioned in sub-paragraph (a)(i) are secured.

27

A statement that most of the provisions of the 1995 Order do not apply to the scheme.

28

Where the member has money purchase benefits, a statement that the value of the pension will depend on several factors including the amount of the contributions paid, the performance of investments and the cost of converting the benefit into an annuity.

PART 3 — Lifestyling

29

A statement explaining lifestyling, its advantages and disadvantages, and either—

(a) that lifestyling will be adopted, indicating when lifestyling is likely to be adopted, or

(b) that lifestyling has been adopted.

SCHEDULE 3 — Information to be given on request

PART 1 — Information on the constitution of the scheme

1

The contents of any trust deed or document under which the scheme is made.

2

The scheme rules (except where regulation 29B applies).

3

The contents of any document that supplements or alters in any way the information referred to in paragraphs 1 and 2.

4

The name and postal address and electronic address of every person who employs any member of the scheme in relevant employment.

PART 2 — Information in the annual report etc.

5

A copy of the appropriate audited accounts or auditor’s statements prepared and audited in accordance with regulations made under Article 41 of the 1995 Order[^f00042] (provision of documents for members).

6

If Part 4 of the 2005 Order applies, a copy of the certificate by the actuary under Article 206 of the 2005 Order (schedule of contributions) about the adequacy of the contributions payable towards the scheme.

7

Any of the information listed in Part 5 that applies.

PART 3 — Information on funding principles and actuarial valuations etc.

8

The latest statement of funding principles where required under Article 202 of the 2005 Order.

9

Where Part 4 of the 2005 Order applies to the scheme, a copy of the last actuarial valuation referred to in Article 203 of the 2005 Order (actuarial valuations and reports) that the trustees or managers of the scheme have received.

10

Where Part 4 of the 2005 Order applies to the scheme, the latest actuarial report referred to in Article 203 of the 2005 Order that the trustees or managers of the scheme have received after the last actuarial valuation.

11

Any recovery plan prepared under Article 205 of the 2005 Order that is currently in force.

12

The latest payment schedule under Article 85 of the 1995 Order[^f00043] (schedules of payments to money purchase schemes) or the latest schedule of contributions under Article 206 of the 2005 Order that relates to the employer of the member.

13

The latest statement of principles governing decisions about investments where required by Article 35[^f00044] of the 1995 Order.

14

A summary of the winding up procedure under Article 210A[^f00045] of the 2005 Order (requirements for winding up procedure).

PART 4 — Information on transfer credits

15

Whether the member or prospective member is entitled to acquire transfer credits in exchange for—

(a) a specified cash equivalent (within the meaning of Chapter 1 of Part 4ZA , or Chapter 2 of Part 4A[^f00046], of the 1993 Act) provided by another scheme, or

(b) any transfer payment (within the meaning of Chapter 1 of Part 4ZA , or Chapter 2 of Part 4A, of the 1993 Act) provided by another scheme.

16

A statement of any transfer credits referred to in paragraph 15 which the member or prospective member is entitled to acquire.

PART 5 — Information that applies to the scheme

17

The names of the persons who are trustees of the scheme, and in the case of a scheme none of the trustees of which is an individual, the names of the directors of any company that is a trustee, during the scheme year to which the information relates (referred to in this Part as “the year”).

18

The provisions of the scheme in relation to the appointment of trustees and their removal from office and, in the case of a scheme none of the trustees of which is an individual, the provisions in the articles of association of each trustee that relate to the appointment and removal from office of any directors.

19

The names of the professional advisers and of such banks, custodians and other persons and organisations who have acted for or who have been retained by the trustees during the year, with an indication (except in a case where regulation 12 is complied with by the trustees of a scheme for the first time) of any changes since the previous year.

20

The postal address and electronic address to which enquiries about the scheme generally or about an individual’s entitlement to benefit should be sent.

21

The number of beneficiaries and active, deferred and pensioner members as at any one date during the year.

22

Except in the case of a money purchase scheme other than a collective money purchase scheme , the percentage increases or decreases made (otherwise than in accordance with a legislative requirement) during the year (or, if there have been different increases or decreases for different individuals or groups of individuals, the maximum, minimum and average percentage increases or decreases ) to—

(a) pensions that were payable, and

(b) deferred pensions,

with a statement whether the increases or decreases were to any extent discretionary.

23

Except in the case of a money purchase scheme that is a wholly insured scheme, the following information—

(a) where any cash equivalents ... (within the meaning of Chapter 1 of Part 4ZA , or Chapter 2 of Part 4A, of the 1993 Act) paid during the year were not calculated and verified in the manner prescribed by regulations made under section 93[^f00047] or 97I of the 1993 Act (calculation of cash equivalents), as the case may be, a statement explaining why;

(b) where any of the cash equivalents ... paid during the year were less than the amount for which section 90 [^f00048] of the 1993 Act (right to cash equivalent) provides, a statement to that effect together with information as to why they were less;

(d) a statement whether discretionary benefits are included in the calculation of the transfer values and, if so, the method by which the value of discretionary benefits is assessed.

24

A statement as to whether the accounts have been prepared and audited in accordance with regulations made under Article 41(1) and (6) of the 1995 Order (unless the scheme is exempt from such requirements by virtue of those regulations).

25

If the auditor’s statement made in accordance with regulations made under Article 41(1)(a) and (2)(b) of the 1995 Order is negative or qualified, an account of the reasons why and a statement as to how the situation has been or is likely to be resolved.

26

If such situation as is mentioned in paragraph 25 in respect of a previous scheme year was not resolved in a previous year, a statement as to how it has been or is likely to be resolved.

27

Who has managed the investments of the scheme during the year and the extent of any delegation of this function by the trustees.

28

Whether the trustees have produced a statement of the principles governing decisions about investments for the purposes of the scheme in accordance with Article 35[^f00049] of the 1995 Order (unless the scheme is exempt from such requirement by virtue of regulations made under that Article) and, where the trustees have produced such a statement, a statement that a copy is available on request.

29

Except in relation to a wholly insured scheme, a statement as to the trustees’ policy on the custody of the scheme assets.

30

(1) Where the scheme is one to which Article 35 of the 1995 Order applies, an investment report containing—

(a) a statement by the trustees or the fund manager providing details of any investments made for the scheme during the year that were not made in accordance with the statement of investment principles governing decisions about investments required under Article 35 of the 1995 Order;

(i) during the year, and

(ii) except where the scheme has existed for less than 3 scheme years, during a period of not less than 3 and not more than 5 scheme years ending with the year,

including an assessment of the nature, disposition, marketability, security and valuation of the scheme’s assets;

(ca) a statement which must—

(i) set out how, and the extent to which, in the opinion of the trustees, the policy required under regulation 2(3)(c) of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005 has been followed during the year, and

(ii) describe the voting behaviour by, or on behalf of, trustees (including the most significant votes cast by trustees or on their behalf) during the year and state any use of the services of a proxy voter during that year;

(d) the policies specified in the following paragraphs of regulation 2 of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005 (statement of investment principles) (“the Investment Regulations”)—

(i) paragraph (3)(b)(vi);

(ii) paragraph (3)(b) (vii);

(iii) paragraph (3)(c), and

(iv) paragraph (3)(d), and

(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(f) where the scheme is a relevant scheme within the meaning of the Occupational Pension Schemes (Scheme Administration) Regulations (Northern Ireland) 1997, a statement which must—

(i) set out how, and the extent to which, in the opinion of the trustees, the statement of investment principles required under Article 35 of the 1995 Order has been followed during the year;

(ii) describe any review of the statement of investment principles undertaken during the year in accordance with regulation 2(1) of the Investment Regulations and any other review of how the statement of investment principles has been met;

(iii) explain any change made to the statement of investment principles during the year and the reason for the change;

(iv) where no such review was undertaken during the year in accordance with regulation 2(1) of the Investment Regulations, give the date of the last review, and

(v) describe the voting behaviour by, or on behalf of, trustees (including the most significant votes cast by trustees or on their behalf) during the year and state any use of the services of a proxy voter during that year.

(2) Where, on the preparation or revision of an investment report under sub-paragraph (1), a scheme is a wholly-insured scheme and the trustees do not consider that it should cease to be such a scheme, sub-paragraphs (ca) and (d) of sub-paragraph (1) do not apply.

31

A copy of any statement made on the resignation or removal of the auditor or actuary and made in accordance with regulations made under Article 47(6) of the 1995 Order (professional advisors).

32

Except where the scheme is a trust scheme that applies to earners in employments under different employers, where the scheme has employer-related investments (within the meaning of Article 40(2)[^f00050] of the 1995 Order), a statement—

(a) as to the percentage of the scheme’s resources invested in such investments at the end of the year;

(b) if that percentage exceeds 5 per cent. as to the percentage of the scheme’s resources that are investments to which regulation 13 of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005[^f00051] (investments to which restrictions do not apply) applies, and

(i) as to the steps the trustees or managers of the scheme have taken or propose to take to secure that the scheme complies with that Article, and

(ii) as to the time when any proposed steps will be taken.

33

(1) Where the scheme is a trust scheme that applies to earners in employments under different employers, a statement in accordance with paragraph 32 or a statement—

(a) listing the 100 largest investments by value held by the scheme as at the end of the year and stating what percentage of the resources of the scheme each such investment represents;

(b) identifying which of the investments referred to in head (a) are employer-related investments, and

(c) if, as at the end of the year, more than 5 per cent. of the resources of the scheme are invested in employer-related investments in contravention of Article 40(1) of the 1995 Order in relation to a particular employer—

(i) listing the employer-related investments and the name of the employer concerned;

(ii) as to the steps the scheme has taken or proposes to take to ensure that the percentage is reduced to 5 per cent. or less, and

(iii) as to the time when any proposed steps will be taken.

(2) Subject to sub-paragraph (3), in sub-paragraph (1) “employer-related investments” has the same meaning as in the definition in Article 40(2) of the 1995 Order but as if the following words in that definition were omitted—

(a) in paragraph (a) “or by any person who is connected with, or an associate of, the employer”, and

(b) “or any such person” in each place where they occur.

(3) Where regulation 16A of the Occupational Pension Schemes (Investment) Regulations (Northern Ireland) 2005 (authorised Master Trust schemes) applies to a scheme that is a trust scheme, then for the purposes of the statement required by sub-paragraph (1), any employer-related investments which do not meet the definition in regulation 16A(4) of those Regulations may be disregarded.

SCHEDULE 4 — Summary funding statements

1

A summary that—

(a) explains the extent to which the assets of the scheme are adequate to cover its technical provisions, and

(b) is based on—

(i) the last actuarial valuation under Article 203 of the 2005 Order (actuarial valuations and reports) received by the trustees or managers of the scheme, and

(ii) any actuarial report under that provision they have received since that actuarial valuation.

2

In the case of the first summary funding statement issued in respect of the scheme, an explanation of the changes in the funding position of the scheme since—

(a) the last actuarial valuation of the scheme under Article 203(1)(a) of the 2005 Order, or

(b) if no such valuation was obtained, the last actuarial valuation under the scheme rules.

3

In the case of any subsequent summary funding statement, an explanation of any change in the funding position of the scheme since the date of the previous summary funding statement.

4

The actuary’s estimate of solvency contained in the last actuarial valuation under Article 203 of the 2005 Order received by the trustees or managers of the scheme.

5

A summary of any recovery plan prepared under Article 205 of the 2005 Order that is currently in force.

6

A statement explaining—

(a) whether the scheme has been modified under Article 210(2)(a) of the 2005 Order;

(b) whether the scheme is subject to directions by the Regulator under Article 210(2)(b) of the 2005 Order, and

(c) whether the scheme is bound by a schedule of contributions imposed by the Regulator under Article 210(2)(c) of the 2005 Order.

7

Where there has been a modification, directions or a schedule of contributions referred to in paragraph 6, a summary of the circumstances in which they were made.

8

A statement explaining whether any payment to the employer under Article 37[^f00052] of the 1995 Order (payment of surplus to employer) has been made—

(a) in the case of the first summary funding statement issued in respect of the scheme, in the 12 months before the date on which that statement is prepared, and

(b) in the case of any subsequent summary funding statement issued in respect of the scheme, since the date of the last such statement.

9

Where a payment referred to in paragraph 8 has been made, the amount of that payment.

SCHEDULE 5 — Statements of benefits: non money purchase benefits

PART 1 — Information for active members

1

The amount of any benefits (and how they are calculated) that would be payable on a date specified by the trustees or managers of the scheme if the member of the scheme were to die in service.

2

One of the following amounts, chosen by the trustees or managers of the scheme, of the member’s benefits and survivors’ benefits calculated without regard to possible increases in the member’s salary—

(a) the amounts that would be payable from the date benefits are payable if pensionable service were to end on a date specified by the trustees or managers of the scheme;

(b) the amounts that would be payable from the date benefits are payable if pensionable service were to end on the member attaining normal pension age, or

(c) the amounts that would be payable from the date benefits are payable if pensionable service were to end on a date agreed between the member and the trustees or managers of the scheme.

3

The amount of the member’s pensionable remuneration on a date specified by the trustees or managers of the scheme.

PART 2 — Information for active and deferred members

4

The date on which the member’s pensionable service started.

5

A summary of the method for calculating the member’s benefits and any survivors’ benefits.

6

Details of how any deduction from benefits is calculated.

PART 3 — Information for deferred members

7

The date the member’s pensionable service ended.

8

The amount of the member’s benefits and survivors’ benefits payable from the date benefits are payable.

9

The amount of the member’s pensionable remuneration on the date pensionable service ended.

PART 4 — Information for pension credit members

10

The amount of the member’s benefits and survivors’ benefits payable from the date benefits are payable.

11

A summary of the method for calculating the member’s benefits and any survivors’ benefits.

12

Details of how any deduction from benefits is calculated.

SCHEDULE 6 — Statements of benefits: money purchase benefits and cash balance benefits

PART 1 — Information for all money purchase members

1

The amount of contributions (before any deductions are made) credited to the member under the scheme during—

(a) in the case of an occupational pension scheme—

(i) the immediately preceding scheme year, and

(ii) the scheme year mentioned in regulation 17(9)(a) if—

(aa) contributions have been credited during that year, and

(bb) the information relating to that year has not been given, and

(b) in the case of a personal pension scheme, the 12 months immediately preceding a date specified by the managers of the scheme.

2

Where an occupational pension scheme was a contracted-out scheme at any time before the abolition date[^f00053]—

(a) the date of birth used in determining the appropriate age-related percentage for the purposes of section 38A[^f00054] of the 1993 Act (reduced rate of Class 1 contributions, and rebates);

(b) the name and postal address or electronic address of a person who can be contacted if the date of birth is incorrect, and

(c) the amount of the contributions referred to in paragraph 1 paid to the scheme in respect of the member during the scheme years referred to in that paragraph which is attributable to—

(i) the minimum payments made by the member’s employer;

(ii) any payments made by the Department in accordance with Article 9(1) of the Social Security (Northern Ireland) Order 1986[^f00055] (schemes becoming contracted-out between 1986 and 1993);

(iii) any age-related payments made by HMRC in accordance with section 38A(3) of the 1993 Act.

3

(1) Where a personal pension scheme was an appropriate scheme at any time before the abolition date—

(a) the date of birth used in determining the appropriate age-related percentage for the purposes of section 41(1)[^f00056] of the 1993 Act (amount of minimum contributions);

(b) the name and postal address or electronic address of any person who can be contacted if the date of birth is incorrect, and

(c) the amount of the minimum contributions paid by HMRC in respect of the member during the 12 months preceding a specified date that are attributable to section 41(1) of the 1993 Act identifying separately that part of the contributions that is attributable to tax relief on the employee’s share of minimum contributions, being the difference between that share and the grossed-up equivalent of that share.

(2) In sub-paragraph (1)(c) the expressions “employee’s share” and “grossed-up equivalent” have the meanings given to them by section 202(3) and (4) of the Finance Act 2004[^f00057] (minimum contributions under pensions legislation).

4

The value of the member’s accrued rights under the scheme at a date specified by the trustees or managers of the scheme.

5

Any cash equivalent in respect of the transfer of the member’s rights mentioned in paragraph 4 that would be different from the values to be specified, at the date specified, under that paragraph, calculated in accordance with—

(a) sections 93[^f00058] and 97I of the 1993 Act (calculation of cash equivalents), in the case of an occupational pension scheme, or

(b) regulations 3 and 4 of the Personal Pension Schemes (Transfer Values) Regulations (Northern Ireland) 1987[^f00059] (calculation and verification and increases and reductions of cash equivalents), in the case of a personal pension scheme.

PART 2 — Pension illustration

6

For money purchase benefits, an illustration of the amount of the pension—

(a) that is calculated in accordance with paragraphs 7 and 8;

(b) an entitlement to which would be likely to accrue to the member, or be capable of being secured by the member, at the member’s retirement date, and

7

(1) The amount referred to in paragraph 6 must be calculated—

(a) by reference to—

(i) the relevant guidance, and

(ii) the assumptions listed in paragraph 8;

(b) having regard to the value of the member’s accrued rights to money purchase benefits under the scheme on the illustration date.

(2) For the purposes of paragraph 6, the calculation of the amount of the pension may take account of a lump sum.

8

(1) The assumptions are—

(a) where the calculation relates to the rights of a non-contributing member, that no contributions will be made to the scheme by the member, or on the member’s behalf, after the illustration date, or

(b) in any other case, that until the member’s retirement date—

(i) contributions to the scheme will be made by the member or on the member’s behalf, and

(ii) the scheme will maintain its tax registration under section 153 of the Finance Act 2004 (registration of pension schemes).

(2) In this paragraph “non-contributing member” means a member in respect of whom no further contributions to the scheme are due or expected after the illustration date.

9

A statement that the information given under this Part is given only for the purposes of illustration and that it does not represent any promise or guarantee as to the amount of benefit that may be receivable by the member or a beneficiary of the scheme under the scheme.

10

A statement of how the person to whom the information given under this Part relates may obtain from the trustees or managers of the scheme further details about that information.

11

A statement that general assumptions have been made.

12

A statement that any amounts in the information given under this Part are expressed in today’s prices.

13

The member’s retirement date used for the purposes of the information given under this Part.

14

The illustration date used for the purposes of the information given under this Part.

PART 3 — Further information to be given on pension illustration

15

A statement that—

(a) assumptions have been made about the nature of the investments made for the purposes of the member’s money purchase benefits and their likely performance, and

(b) those assumptions may not correspond with the investments actually made for those purposes or their actual performance.

16

A statement that the amount of any pension payable under the scheme to, or in respect of, the member will depend on considerations (including the performance of investments and the cost of buying an annuity at the time the pension becomes payable) which may be different from any assumptions made.

17

A statement of any—

(a) assumptions made relating to future contributions to the scheme;

(b) assumptions made relating to the lump sum, the level of increases in the pension and the pension payable to the spouse or civil partner, and

(c) changes to the assumptions mentioned in sub-paragraph (b) that were used for the previous information given under paragraph 6.

SCHEDULE 7 — Information to be given by schemes that relates to accessing benefits and to benefit adjustments

PART 1 — Information to be given to persons having an opportunity to select an annuity

1

A statement that the person has an opportunity to select an annuity.

2

A statement that the person has an opportunity to select the provider of the annuity.

3

A statement that different annuities have different features and different rates of payment including annuities that provide—

(a) the same payments every year;

(b) increasing payments every year;

(d) payments for the person’s spouse or civil partner;

(e) a guarantee on the early death of the person.

4

Either—

(a) an explanation of the characteristic features of the annuities referred to in paragraph 3, or

(b) a copy of guidance giving that explanation that has been prepared or approved by the Regulator.

5

A statement that the person should consider taking advice about which annuity is most suitable for that person.

PART 2 — Information on accessing benefits for members and survivors

6

The amount of benefit that is payable.

7

If benefit is payable periodically—

(a) any conditions for continuing to make the payments, and

(b) any provisions which would allow the payments to be altered.

8

Any rights and options that persons have on the death of the member or beneficiary of the scheme.

9

Any procedures for exercising the rights and options referred to in paragraph 8.

10

The provisions (or, as the case may be, a statement that there are no provisions) under which the pension payable to the survivor of a member or beneficiary of the scheme may or will be increased or decreased and the extent to which such or decreases are dependent on the exercise of a discretion.

SCHEDULE 8 — Information to be given by schemes about winding up

PART 1 — Information to be given by occupational pension schemes during winding up

1

A statement that the scheme is being wound up.

2

The reasons why the scheme is being wound up.

3

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