Pension Schemes Bill (Northern Ireland) 2027 - Regulatory Impact Assessments
Date published:
The proposed Bill will provide the legislative framework necessary to maintain parity with Great Britain in a number of areas of pensions policy and administration. It establishes new frameworks for the automatic consolidation of small pension pots, a Value for Money framework, guided retirement and the authorisation and supervision of superfunds.
The Bill also develops existing policy relating to defined benefit surplus release and scale and asset allocation requirements for defined contribution pension schemes, alongside a number of consequential and technical amendments to existing pensions legislation.
Following screening, full Regulatory Impact Assessments were undertaken for the Defined Benefit Surplus, Value for Money, Small Pots, Scale and Asset Allocation, Guided Retirement and Superfunds measures. This Regulatory Impact Assessment considers the impacts of those measures and the associated regulation-making powers contained in the Bill.