- a warning notice
means a notice given as mentioned in section 96(2)(a);
- act
includes omission. 88B 1 Subsection (3) applies where— a the Regulator is satisfied that section 88A applies to a person by virtue of section 58C or 58D (financial penalty for avoidance of employer debt etc), b the Regulator issues a notice under section 88A requiring the person to pay a penalty in respect of the act or failure to act in question, and c when the notice under section 88A is issued, the person is subject to one or more contribution notices issued under section 38 (contribution notices where avoidance of employer debt). 2 Subsection (3) does not apply if, when the notice under section 88A is issued, a qualifying insolvency event has occurred in relation to the employer in relation to the scheme by reference to which the penalty under section 88A is imposed. 3 The Regulator may not take any step to recover the penalty specified in the notice under section 88A (including accepting an amount offered in payment or part payment of the penalty) until after— a the relevant date relating to the contribution notice or (as the case may be) the latest of the relevant dates relating to the contribution notices, or b if sooner, the date on which a qualifying insolvency event
- actuarial valuation
means a report prepared and signed by the scheme actuary setting out—
- additional retirement pension
means— (a) any additional pension or shared additional pension under— (i) the Contributions and Benefits Act, or (ii) the Social Security Contributions and Benefits Act 1992, or (b) any graduated retirement benefit under— (i) sections 35 and 36 of the National Insurance Act (Northern Ireland) 1966, or (ii) sections 36 and 37 of the National Insurance Act 1965;
- administration charge
has the same meaning as in paragraph 1 of Schedule 18 to the Pensions Act 2014;
- associate
has the meaning given in Article 4 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19));
- authorisation
means authorisation under section 9 or by virtue of regulations under section 5(2) (and related expressions are to be read accordingly);
- authorisation criteria
has the meaning given in section 60(3);
- basic retirement pension
means any basic pension under— (a) the Contributions and Benefits Act, or (b) the Social Security Contributions and Benefits Act 1992;
- body corporate
has the meaning given in section 1173(1) of the Companies Act 2006.
- Code
means a code of practice issued by the Pensions Regulator under Article 85 of the Pensions (Northern Ireland) Order 2005;
- collective money purchase scheme
means— under which all of the benefits that may be provided are qualifying benefits.
- determination notice
has the meaning given in Article 93(2)(a) of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1));
- earnings
has the meaning given in section 181(1) of the Pension Schemes Act 1993;
- electronic communications service
has the meaning given by section 32 of the Communications Act 2003;
- eligible scheme
has the meaning given by Article 110;
- enactment
includes an enactment comprised in subordinate legislation;
- estimated Article 75 debt
means the amount which the Regulator estimates to be the amount of the debt which would become due from the employer to the trustees or managers of the scheme under Article 75 of the 1995 Order (deficiencies in the scheme assets) if— a Article 75(2) applied, and b the time designated by the trustees or managers of the scheme for the purposes of Article 75(2) were the relevant time. 4 When calculating the estimated Article 75 debt under paragraph (3), the amount of any debt due at the relevant time from the employer under Article 75 of the 1995 Order is to be disregarded. 5 In this Article “the relevant time” means— a in a case where the act or failure to act forms part of a series of acts or failures to act, the time immediately before the first of the acts occurred or the first of the failures to act first occurred;
- estimated section 75 debt
means the amount which the Regulator estimates to be the amount of the debt which would become due from the employer to the trustees or managers of the scheme under section 75 of the Pensions Act 1995 (deficiencies in the scheme assets) if— a section 75(2) applied, and b the time designated by the trustees or managers of the scheme for the purposes of section 75(2) were the relevant time. 4 When calculating the estimated section 75 debt under subsection (3), the amount of any debt due at the relevant time from the employer under section 75 of the Pensions Act 1995 is to be disregarded. 5 In this section “the relevant time” means— a in a case where the act or failure to act forms part of a series of acts or failures to act, the time immediately before the first of the acts occurred or the first of the failures to act first occurred;
- event
includes a failure to act.”
- funding level
means the ratio of the scheme's assets to its liabilities;
- group accounts
means accounts prepared under—
- implementation strategy
has the meaning given in section 39;
- insolvency event
has the meaning given in Article 105 of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1));
- item 1 triggering event
means an event falling within item 1 of the triggering events table (and similar references using other item numbers are to be read accordingly);
- Master Trust scheme
means a Master Trust scheme within the meaning of the Pension Schemes Act 2017 or any corresponding statutory provision;
- member
has the meaning given in Article 121(1) of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)) (read with regulations made under Article 122(4) of that Order);
- notifiable event
means a prescribed event in respect of the employer in relation to an eligible scheme. 3 For the purposes of paragraph (1) each of the following is “the appropriate person”— a the employer in relation to the scheme, b a person connected with the employer, c an associate of the employer, and d a person of a prescribed description. 4 Regulations may make provision about the meaning of a “material change” for the purposes of this Article. 5 A notice under paragraph (1) must be given to the Regulator— a in the case of a notice under paragraph (1)(a), as soon as reasonably practicable after the person giving it becomes aware of the notifiable event, subject to paragraph (6), b in the case of a notice under paragraph (1)(b), as soon as reasonably practicable after the person giving it becomes aware of the material change, subject to paragraph (6), or c in the case of a notice under paragraph (1)(c), as soon as reasonably practicable after the person giving it becomes aware that the notifiable event is not going to take place or (as the case may be) did not take place. 6 Regulations may require a notice under paragraph (1)(a) or (b) to be given before the beginning of t
- occupational pension scheme
has the same meaning as in the Pension Schemes Act 1993 (see section 1(1) of that Act);
- pension credit
means a credit under Article 26(1)(b) of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11)) or section 29(1)(b) of the Welfare Reform and Pensions Act 1999;
- pension earmarking order
means— (a) an order under Article 25 of the Matrimonial Causes (Northern Ireland) Order 1978 (S.I. 1978/1045 (N.I. 15)) so far as it includes provision made by virtue of Article 27B or 27C of that Order (powers to include provision about pensions), (b) an order under Part 1 of Schedule 15 to the Civil Partnership Act 2004 (financial provision in connection with dissolution, nullity or separation: Northern Ireland) so far as it includes provision made by virtue of paragraphs 20 and 21 of Part 5 of that Schedule (powers to include provision about pensions), (c) an order under section 23 of the Matrimonial Causes Act 1973 (financial provision orders in connection with divorce etc) so far as it includes provision made by virtue of section 25B or 25C of that Act (powers to include provision about pensions), (d) an order under Part 1 of Schedule 5 to the Civil Partnership Act 2004 (financial provision in connection with dissolution, nullity or separation) so far as it includes provision made by virtue of paragraphs 25 and 26 of Part 6 of that Schedule (powers to include provision about pensions), or (e) an order under section 12A(2) or (3) of the Family Law (Sc
- pension scheme
has the meaning given in section 1(5) of the Pension Schemes Act 1993;
- pension sharing order or provision
means an order or provision falling within Article 25(1) of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11)) (activation of pension sharing);
- pensions dashboard service
means— (a) a pensions dashboard service within the meaning of Article 215A, or (b) a pensions dashboard service within the meaning of section 238A of the Pensions Act 2004;
- pensions information
means, in relation to a relevant occupational pension scheme, such information as may be prescribed, which may include in particular— a information relating to— i the constitution of the scheme, ii the administration and finances of the scheme, iii the rights and obligations that arise or may arise under the scheme, iv the pensions and other benefits an entitlement to which would be likely to accrue to a member, or be capable of being secured by a member, in respect of the rights that may arise under the scheme, and v other matters relevant to occupational pension schemes in general or to occupational pension schemes of a description to which the scheme belongs;
- personal data
has the same meaning as in the Data Protection Act 2018 (see section 3 of that Act);
- personal pension scheme
means a personal pension scheme within the meaning of an order under section 22 (except in section 137FAB(3)(c));
- Prohibited modification
means a modification of an occupational pension scheme which on taking effect would or might result in any subsisting right of— a a member of the scheme, or b a survivor of a member of the scheme, which is not a right or entitlement to money purchase benefits becoming, or being replaced with, a right or entitlement to collective money purchase benefits under the scheme rules.”
- qualifying insolvency event
has the meaning given by Article 111(3);
- Qualifying pensions dashboard service
means a pensions dashboard service in relation to which prescribed requirements are satisfied. 3 Requirements prescribed under paragraph (2) may, in particular, relate to— a what relevant and other information is to be provided, how it is to be provided and the circumstances in which it is to be provided;
- receiving scheme
means a pension scheme that— (a) receives a transfer from a transferring scheme of the value of accrued rights to benefits under that scheme during a triggering event period for that scheme, and (b) was proposed by the trustees of that transferring scheme, or by employers in relation to that scheme, as a scheme to which the value of those rights should be transferred;
- regulator
means—
- relevant date
means a date determined in accordance with regulations. 4 Provision may be made by regulations— a requiring the trustees or managers of a scheme, in determining or revising a funding and investment strategy, to take into account prescribed matters and follow prescribed principles;
- relevant information
means— a information of a prescribed description about— i state pensions;
- relevant occupational pension scheme
means an occupational pension scheme which is not a stakeholder pension scheme (as defined in Article 3 of the 1999 Order). 215G 1 Regulations may make provision with a view to securing that the trustees or managers of a relevant occupational pension scheme comply with a provision of regulations under Article 215D. 2 The regulations may, among other things— a provide for the Regulator to issue a notice (a “compliance notice”) to a person with a view to ensuring the person's compliance with a provision of regulations under Article 215D;
- scheme rules
has the meaning given in Article 2(3) and (4) of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1));
- single or connected employer scheme
means a collective money purchase scheme not used, or intended to be used, by any employers other than— (a) a single employer, or (b) two or more employers that are connected with each other;
- special procedure
has the meaning given in section 98 of that Act;
- specified
means specified in regulations under subsection (6).
- specified authorised person
has the meaning given by section 137FAC of the Financial Services and Markets Act 2000;
- stakeholder pension scheme
has the meaning given by— (a) section 1 of the Welfare Reform and Pensions Act 1999, in relation to England and Wales and Scotland;
- standard procedure
has the meaning given in section 96 of that Act;
- state pension
means any state pension under— (a) Part 1 of the Pensions Act (Northern Ireland) 2015, or (b) Part 1 of the Pensions Act 2014.”
- statutory provision
has the meaning given in section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.));
- subordinate legislation
has the meaning given in section 21(1) of the Interpretation Act 1978;
- the accounts of an unconnected multiple employer scheme
means the accounts audited by the person appointed as auditor in relation to the scheme under Article 47(1)(a) of the Pensions (Northern Ireland) Order 1995 (professional advisers) (and see subsection (1A) below);
- the available assets of the scheme
means all the assets that— (a) arise or derive from the payments made by or in respect of members of the scheme, and (b) are available (subject to any deductions that fall to be made in respect of administration charges) for the provision of benefits to or in respect of the members of the scheme collectively;
- the data protection legislation
has the same meaning as in the Data Protection Act 2018 (see section 3 of that Act);
- the Department
means the Department for Communities in Northern Ireland;
- the Paris Agreement goal
means the goal of holding the increase in the average global temperature to well below 2°C above pre-industrial levels referred to in Article 2(1)(a) of the agreement done at Paris on 12 December 2015. 41B 1 Regulations may require the trustees or managers of an occupational pension scheme of a prescribed description to publish information of a prescribed description relating to the effects of climate change on the scheme (which may include information about matters to which regulations under Article 41A may relate). 2 Regulations under paragraph (1) may, among other things— a require the trustees or managers to publish a document of a prescribed description;
- the pensions legislation
means any enactment contained in or made by virtue of— a the Pension Schemes Act 1993, b Part 1 or section 33 or 45 of the Welfare Reform and Pensions Act 1999, c this Act, d Schedule 18 to the Pensions Act 2014, or e section 48 or 49 of the Pension Schemes Act 2015;”
- the relevant date
means, in relation to a contribution notice issued under Article 34— (a) the date specified under Article 36(2A) for the purposes of Articles 38A(2) and 38B(2), disregarding any date that has effect instead of that date by virtue of Article 37(10A) or (11B), or (b) if sooner, the date on which the sum specified in the contribution notice is paid. 83C 1 A penalty under Article 83A is recoverable by the Regulator. 2 Such a penalty is, if the county court so orders, recoverable under Article 4 of the Judgments Enforcement (Northern Ireland) Order 1981 or otherwise as if it were payable under an order of that court. 3 The Regulator must pay into the Consolidated Fund a penalt
- the relevant provisions
means provisions contained in or made by virtue of— a such provisions of the pensions legislation as may be prescribed;
- the relevant time
means— a in the case of an act, the time of the act, b in the case of a failure to act— i the time when the failure occurred, or ii where the failure continued for a period of time, the end of that period, or c in the case of a course of conduct, the time when the course of conduct ended. 6 A reference in this Article to rights which have accrued is to be read in accordance with Article 67A(6) and (7) of the 1995 Order (reading any reference in those paragraphs to a subsisting right as a reference to a right which has accrued). 7 For the purposes of this Article the benefits that may be received under the following provisions are to be disregarded— a Chapter 3 of Part 3 (the Board of the Pension Protection Fund: pension protection), and b section 286 of the Pensions Act 2004 (the financial assistance scheme for members of certain pension schemes). 8 This Article does not apply to a person if the act done, or course of conduct engaged in, by the person is in accordance with the person's functions as an insolvency practitioner in relation to another person (see Article 54A(9)). 9 A person guilty of an offence under paragraph (2) is liable— a on summary conviction,
- the required amount
means the amount expected to be required, applying appropriate actuarial assumptions, for the purpose of providing benefits under the scheme to or in respect of the members of the scheme collectively.
- the Tribunal
has the meaning given in—
- transferring scheme
means a collective money purchase scheme the trustees of which, following a triggering event, are pursuing continuity option 1.
- triggering event
has the meaning given in section 82;
- unconnected multiple employer scheme
means a collective money purchase scheme used, or intended to be used, by two or more employers, some or all of which are not connected with each other.
- undertaking
has the meaning given in section 1161 of the Companies Act 2006;
- unincorporated association
means any body of persons unincorporate but does not include a partnership.
- warning notice
has the meaning given in Article 91(2)(a) of that Order.