Proposals for a Pension Schemes Bill

Consultation opened on 16 December 2016. Closing date 09 February 2017.

Summary

In order to comply with its obligations under section 75 of the Northern Ireland Act 1998, the Department has undertaken an EQIA on proposals which, subject to Ministerial agreement and Executive approval, may be brought forward in a Pension Schemes Bill.

Documents

Consultation description

It is anticipated that the proposed Bill will introduce:

  • an authorisation and supervision regime for Master Trusts (a form of multi-employer occupational pension scheme), and
  • a cap/ban on early exit charges and member-borne commission that arise under existing arrangements, as well as new arrangements

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