This Regulatory Impact Assessment considers the impact of a Statutory Rule that amends existing regulations which restrict the extent to which occupational pension schemes can make certain investments with links to the employers who use the scheme, defined in the Pensions (Northern Ireland) Order 1995 as “employer-related investments”.
The Occupational Pension Schemes (Investment) (Employer-related investments by Master Trusts) (Amendment) Regulations (Northern Ireland) 2022 relax the restrictions on employer-related investments for Master Trusts authorised by the Pensions Regulator and which have 500 or more participating employers. This delivers the original policy intent of preventing malpractice at the top of the scheme’s governance structure whilst removing outdated restrictions which limit the ability of large Master Trusts to invest freely in the best interests of their members.
Regulatory Impact Assessment - The Occupational Pension Schemes (Investment) (Employer-Related Investments by Master Trusts) (Amendment) Regulations (Northern Ireland) 2022