New Occupational Pension Schemes Regulations in Northern Ireland
· WOWERI
The 2026 Regulations extend the definition of a "qualifying scheme". This change affects pension schemes used by multiple employers. The Regulations also introduce a new authorization and supervisory regime.
Introduction
The Occupational Pension Schemes (Collective Money Purchase Schemes) (Extension to Unconnected Multiple Employer Schemes and Miscellaneous Provisions) Regulations (Northern Ireland) 2026 have been published on the UK legislation website.
Key Changes
These Regulations amend the Pension Schemes Act 2021, removing the exclusion of pension schemes used, or intended to be used, by two or more employers some or all of which are not connected with each other from the definition of "qualifying scheme".
Impact on Employers
This change enables such schemes to be "collective money purchase schemes" for the purposes of Part 2 of the Pension Schemes Act 2021. The Regulations also introduce a new authorization and supervisory regime for such schemes.
Sources
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Source: legislation.gov.uk