The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order (Northern Ireland) 2021

Made: 16th February 2021

Coming into operation: 31st March 2021

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Citation and commencement

1

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The levy ceiling

2

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Revocation

3

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Signed

Sealed with the Official Seal of the Department for Communities on 16th February 2021

Anne McCleary — A senior officer of the Department for Communities

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order, which corresponds to provisions of an Order (S.I. 2021/93) made by the Secretary of State for Work and Pensions under section 178 of the Pensions Act 2004, specifies, for the purposes of Article 160 of the Pensions (Northern Ireland) Order 2005 (“the 2005 Order”), the levy ceiling for the financial year beginning on 1st April 2021.

Article 158 of the 2005 Order provides that the Board of the Pension Protection Fund must impose pension protection levies for each financial year falling after the initial period (as defined by Article 157 of the 2005 Order). Article 160 of the 2005 Order provides for the amount to be raised by the pension protection levies, subject to an annual ceiling.

Article 2 of this Order specifies that the levy ceiling for the financial year beginning on 1st April 2021 is £1,099,445,505.

Article 3 makes a revocation.

Footnotes

[^f00001]: S.I. 2005/255 (N.I. 1)

[^f00002]: S.I. 2021/93

[^f00003]: 2004 c. 35

[^f00004]: See section 1(7) of the Departments Act (Northern Ireland) 2016 (c. 5 (N.I.))

[^f00005]: S.R. 2020 No. 28

Editorial notes

[^key-bafcd98d18d3d2e30bdc0a10bbd2f72e]: Order revoked (31.3.2022) by The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order (Northern Ireland) 2022 (S.R. 2022/69), arts. 1, 3