A Master Trust scheme and each scheme funder must meet...
- Meet financing and asset requirements for your Master Trust scheme Employer
Northern Ireland Statutory Rule
2024
United Kingdom
The Occupational Pension Schemes (Master Trusts) Regulations (Northern Ireland) 2024
At a glance
What's here
3 compliance obligations
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Employer 2
- Any Person 1
Other Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Employers also bound by 694 other Acts (top 5 shown)
- The Income Tax (Pay As You Earn) Regulations 2003 2003 236 duties
- Provision and Use of Work Equipment Regulations 1998 1998 120 duties
- TULRCA 1992 1992 72 duties
- Employment Rights (Northern Ireland) Order 1996 (current NI employment law) 1996 52 duties
- Income Tax (Earnings and Pensions) Act 2003 2003 50 duties
Any Person also bound by 2337 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 169 duties
- Merchant Shipping Act 1995 1995 144 duties
- Insolvency (England and Wales) Rules 2016 2016 101 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 95 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Schedules
(1) Each employer which receives a notice under paragraph 4...
- Respond to trustee default scheme notice and notify workers if nominating alternative Employer
Browse 64 other Schedules — structural / supplementary
For the purposes of section 7(4)(a) of the Act, the...
For the purposes of section 7(3)(b) of the Act, the...
For the purposes of section 7(4)(a) of the Act, the...
(1) In this Schedule— “arrangement” means a voluntary agreement entered...
The Regulator must take account of the following matters in...
The Regulator must take account of the following matters in...
The Regulator must take account of the following matters in...
The Regulator must take account of the following information in...
(1) This paragraph applies in respect of a Master Trust...
The effective date of the business plan.
The name of— (a) each scheme trustee;
The name and address of any scheme administrator.
The number of participating employers.
The number of members, broken down into active members, deferred...
The numbers of members joining, transferring from and leaving the...
The scheme’s pension registry number.
The scheme’s HM Revenue & Customs reference number.
If a scheme funder has a single shareholder or is,...
Where section 10(3) of the Act (scheme funder requirements) applies...
Whether a scheme funder is regulated by a financial regulator...
The period to which the business plan relates, to be...
A declaration as to the overall competence of the scheme...
Where a triggering event has reduced the value of the...
Information to be provided by schemes which provide non-money purchase...
The scheme’s objectives and its strategy for meeting them.
Costs in relation to money purchase benefits.
Assets and liquidity in relation to costs.
Income in relation to money purchase benefits.
Profit and loss in relation to money purchase benefits.
In each case where this Schedule or a Code requires...
The name of the person who prepared the business plan....
A statement, signed by the trustees, each scheme funder and,...
The registered name of the scheme.
If different, any trading or brand name under which the...
The date when the scheme was established.
The address of the scheme’s registered office.
Whether the IT systems have the capacity and capability—
Whether there are systems and processes— (a) for investing contributions...
Whether there are systems and processes— (a) for facilitating members’...
Whether the IT systems— (a) are of sufficient standard to...
Whether the IT systems— (a) are maintained at regular intervals,...
Whether the scheme’s systems and processes ensure that—
Whether there are systems and processes— (a) for the fair...
Whether there are systems and processes— (a) for ensuring that...
Whether there are systems and processes— (a) for identifying, managing...
Whether there are systems and processes— (a) for preventing unauthorised...
Whether there are systems and processes for ensuring that there...
(1) In this Schedule— “applicable scheme” means whichever of the...
(1) The trustees of the applicable scheme must, as soon...
The trustee default scheme and any employer default scheme must...
(1) Where the trustees cannot identify a scheme which they...
(1) For the purposes of section 24(5)(i) of the Act...
The trustees of a scheme that is pursuing continuity option...
(1) On the transfer date, the trustees of the transferring...
The Regulator may direct the trustees of the transferring scheme...
The trustees of a Master Trust scheme must comply with...
Article 10 of the 1995 Order (civil penalties) applies to...
(1) In this Schedule, a “cash equivalent” of any rights...
(1) The trustees of a scheme that is pursuing continuity...
(1) When the trustees have identified the trustee default scheme,...
(1) After the period allowed for employers to send notice...
(1) A member who has received notice from the trustees...
(1) If the trustees receive notice from a member in...
Not less than one month before the expected transfer date,...
Scheme funder requirements: accounts
- Maintain audited accounts and comply with accounts requirements as a scheme funder Any Person
Browse 32 other sections — procedural / definitional / commencement
Citation and commencement
Interpretation and notices
Connected employers
Application for authorisation
Fit and proper persons requirement
Financial sustainability requirement
Financial sustainability requirement: business plan
Scheme funder requirements: activities
Systems and processes requirements
Continuity strategy: administration charges
Continuity strategy: information
Supervisory return: contents
Significant events: notifying the Regulator
Fixed and escalating penalties
Triggering events: notification requirements
Implementation strategy: approval
Implementation strategy: administration charges
Implementation strategy: content
Continuity option 1: transfer out and winding up
Continuity option 2: resolving triggering event
Periodic reporting requirement
Fraud compensation
Pause orders
Administration charges
Application of Part 1 of the Act
(1) Part 1 of the Act does not apply to...
(1) This paragraph applies to a Master Trust scheme which—...
(1) 2 or more pension schemes are treated as a...
Amendment of the Companies Act
Amendment of the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations
Amendment of the Overseas Companies Regulations
Revocation
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