The Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (NI) 2022 & The Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations 2022 - screening

The first proposed Statutory Rule, the Occupational Pension Schemes (Collective Money Purchase Schemes) Regulations (Northern Ireland) 2022 implements 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. The Rule also make provision for amendments to secondary legislation in relation to schemes providing collective money purchase benefits.

The Rule forms part of a package of Regulations along with the second proposed Statutory Rule, the Occupational Pension Schemes (Collective Money Purchase Schemes) (Modifications and Consequential and Miscellaneous Amendments) Regulations (Northern Ireland) 2022 which make consequential and miscellaneous amendments in relation to schemes and sections of schemes providing collective money purchase benefits.