The Occupational Pension Schemes (Master Trusts) (No. 2) Regulations (Northern Ireland) 2022 - screening

The proposed Statutory Rule, the Occupational Pension Schemes (Master Trusts) (No. 2) Regulations (Northern Ireland) 2022 revoke and replace the Occupational and Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2022 (S.R. 2022 No. 121) (“the Master Trusts Regulations”).

The Master Trusts Regulations set out the authorisation and supervision regime for Master Trusts here under the provisions of the Pension Schemes Act 2021 the ‘Act’).  The Master Trusts Regulations were made on 16 March 2022 and subsequently came into operation on 6 April 2022. The Master Trust Regulations are subject to the confirmatory procedure before the Assembly which means they must be approved by a resolution of the Assembly within six months of coming into operation or they cease to have effect.