The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024

The Collective Money Purchase Schemes Regulations implement a new authorisation and supervisory regime for collective money purchase schemes a type of occupational pension scheme in which the contributions of members and employers are pooled and invested with a view to delivering benefits at the level to which the scheme aspires.

Due to the absence of the Assembly, it will not be possible for the Collective Money Purchase Schemes Regulations to be approved before they cease to have effect.  Therefore, in order to continue to provide legislative cover for the authorisation and regulation of collective money purchase pension schemes it is proposed that the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2024 will revoke and replace the Collective Money Purchase Schemes Regulations.