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Statutory Rules of Northern Ireland |
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You are here: BAILII >> Databases >> Statutory Rules of Northern Ireland >> The Occupational Pension Schemes (Levies) (Amendment) Regulations (Northern Ireland) 2008 No. 145 URL: http://www.bailii.org/nie/legis/num_reg/2008/nisr_20080145_en_1.html |
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Made
28th March 2008
Coming into operation
1st April 2008
The Department for Social Development makes the following Regulations in exercise of the powers conferred by Article 103(1) and (3) of the Pensions (Northern Ireland) Order 2005(1).
In accordance with Article 103(4) of that Order it has consulted the Board of the Pension Protection Fund(2) in relation to regulation 2.
1. These Regulations may be cited as the Occupational Pension Schemes (Levies) (Amendment) Regulations (Northern Ireland) 2008 and shall come into operation on 1st April 2008.
2. In regulation 6 of the Occupational Pension Schemes (Levies) Regulations (Northern Ireland) 2005(3) (the amount payable) for paragraph (2) substitute–
"(2) This is the table for the administration levy for the financial year ending with 31st March 2009 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 | £42 | |
| 12 to 99 | £4∙33 x M | |
| 100 to 999 | £3∙12 x M | £430 |
| 1,000 to 4,999 | £2∙43 x M | £3,120 |
| 5,000 to 9,999 | £1∙84 x M | £12,150 |
| 10,000 or more | £1∙29 x M | £18,400.". |
3. Regulation 2(7) of the Occupational Pension Schemes (Levies) (Amendment) Regulations (Northern Ireland) 2007(4) is revoked.
Sealed with the Official Seal of the Department for Social Development on 28th March 2008
(L.S.)
John O´Neill
A senior officer of the Department for Social Development
(This note is not part of the Regulations)
These Regulations further amend the Occupational Pension Schemes (Levies) Regulations (Northern Ireland) 2005 ("the Levies Regulations").
Regulation 2 substitutes regulation 6(2) of the Levies Regulations to specify the new figures to be used in calculating the rate at which the administration levy is payable for the financial year ending with 31st March 2009 and subsequent financial 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"). The figures used to calculate the rate of the administration levy have increased by between 17% and 20%. The increases are based on a change in the scheme membership profile, the Board´s estimate of its expenses for the financial year ending with 31st March 2009 and the recovery of a £2∙7 million deficit from the previous financial year.
Regulation 3 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.
S.I. 2005/255 (N.I. 1) Back [1]
The Board of the Pension Protection Fund is established by section 107 of the Pensions Act 2004 (c. 35) Back [2]
S.R. 2005 No. 147; regulation 6(2) was substituted by regulation 2(7) of S.R. 2007 No. 210 Back [3]
S.R. 2007 No. 210 Back [4]
