LegalizeThe Occupational Pension Schemes (Levies) (Amendment) Regulations (Northern Ireland) 2015
Made: 3rd March 2015
Coming into operation in accordance with regulation 1
In accordance with Article 103(4) of that Order it has consulted the Board of the Pension Protection Fund[^f00002] in relation to regulations 3 to 5.
Citation and commencement
1
These Regulations may be cited as the Occupational Pension Schemes (Levies) (Amendment) Regulations (Northern Ireland) 2015 and shall come into operation—
- (a) for the purposes of this regulation and regulations 2, 3 and 6, on 1st April 2015;
- (b) for the purposes of regulation 4, on 1st April 2016, and
- (c) for the purposes of regulation 5, on 1st April 2017.
Interpretation and expiry
2
- (1) In these Regulations “the 2005 Regulations” means the Occupational Pension Schemes (Levies) Regulations (Northern Ireland) 2005[^f00003].
- (2) Regulation 3 ceases to have effect on 31st March 2016.
- (3) Regulation 4 ceases to have effect on 31st March 2017.
Amendment of the 2005 Regulations with effect from 1st April 2015
3
In regulation 6 of the 2005 Regulations (the amount payable) for paragraph (2)[^f00004] substitute—
(2) This is the table for the administration levy for the financial year ending with 31st March 2016—
| Column 1 | Column 2 | Column 3 |
|---|---|---|
| Number of members on the reference day | Amount of levy calculated by reference to number of members (M) | Minimum amount of levy |
| 2 to 11 | £36 | |
| 12 to 99 | £3∙68 x M | |
| 100 to 999 | £2∙65 x M | £370 |
| 1,000 to 4,999 | £2∙07 x M | £2,650 |
| 5,000 to 9,999 | £1∙57 x M | £10,350 |
| 10,000 or more | £1∙09 x M | £15,700 |
Amendment of the 2005 Regulations with effect from 1st April 2016
4
In regulation 6 of the 2005 Regulations (the amount payable) for paragraph (2) substitute—
(2) This is the table for the administration levy for the financial year ending with 31st March 2017—
| Column 1 | Column 2 | Column 3 |
|---|---|---|
| Number of members on the reference day | Amount of levy calculated by reference to number of members (M) | Minimum amount of levy |
| 2 to 11 | £42 | |
| 12 to 99 | £4∙24 x M | |
| 100 to 999 | £3∙06 x M | £420 |
| 1,000 to 4,999 | £2∙38 x M | £3,060 |
| 5,000 to 9,999 | £1∙80 x M | £11,900 |
| 10,000 or more | £1∙26 x M | £18,000 |
Amendment of the 2005 Regulations with effect from 1st April 2017
5
In regulation 6 of the 2005 Regulations (the amount payable) for paragraph (2) substitute—
(2) This is the table for the administration levy for the financial year ending with 31st March 2018 and for each subsequent financial year—
| Column 1 | Column 2 | Column 3 |
|---|---|---|
| Number of members on the reference day | Amount of levy calculated by reference to number of members (M) | Minimum amount of levy |
| 2 to 11 | £49 | |
| 12 to 99 | £4∙88 x M | |
| 100 to 999 | £3∙52 x M | £490 |
| 1,000 to 4,999 | £2∙74 x M | £3,520 |
| 5,000 to 9,999 | £2.07 x M | £13,700 |
| 10,000 or more | £1∙45 x M | £20,700 |
Revocation
6
Regulation 3 of the Occupational and Personal Pension Schemes (Levies) (Amendment) Regulations (Northern Ireland) 2012[^f00005] is revoked.
Signed
Sealed with the Official Seal of the Department for Social Development on 3rd March 2015
Anne McCleary — A senior officer of the Department for Social Development
Explanatory note
(This note is not part of the Regulations)
EXPLANATORY NOTE
These Regulations further amend the Occupational Pension Schemes (Levies) Regulations (Northern Ireland) 2005 (“the 2005 Regulations”).
Regulation 2 provides for the expiry of regulations 3 and 4 when those amendments are superseded.
Regulations 3, 4 and 5 substitute regulation 6(2) of the 2005 Regulations to specify the new figures to be used in calculating the rate at which the administration levy is payable for the financial years beginning on 1st April 2015, 1st April 2016, 1st April 2017 and subsequent years. The purpose of the administration levy is to meet the expenditure mentioned in Article 103(1) of the Pensions (Northern Ireland) Order 2005 (“the Order”) relating to the Board of the Pension Protection Fund (“the Board”). Eligible occupational pension schemes pay the administration levy (see regulation 4 of the 2005 Regulations). The administration levy is used to fund administration expenses of the Board.
Regulation 6 makes a consequential revocation.
As these Regulations make in relation to Northern Ireland only provision corresponding to provision contained in regulations made by the Secretary of State for Work and Pensions in relation to Great Britain, the requirement to consult under Article 289(1) of the Order does not apply by virtue of paragraph (2)(e) of that Article.
Footnotes
[^f00001]: S.I. 2005/255 (N.I. 1)
[^f00002]: The Board of the Pension Protection Fund is established under section 107 of the Pensions Act 2004 (c. 35)
[^f00003]: S.R. 2005 No. 147; relevant amending regulations are S.R. 2012 No. 98
[^f00005]: S.R. 2012 No. 98
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