The Department for Communities has made a Statutory Rule entitled “The Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment) Regulations (Northern Ireland) 2024” (S.R. 2024 No. 79), which came into operation on 30th March 2024.

The Rule revokes and re-enacts the Occupational Pension Schemes (Administration, Investment, Charges and Governance) (Amendment No. 2) Regulations (Northern Ireland) 2023 which would otherwise cease to have effect by virtue of section 51(3)(b) of the Pensions Act (Northern Ireland) 2015. It amends existing Regulations to require trustees or managers of most defined contribution occupational pension schemes to publish their policies on investment in illiquid assets (assets that cannot easily or quickly be sold or exchanged for cash) and information about the types of assets in which the scheme has investments. It also provides that specified performance-based fees will fall outside of the regulatory charge cap calculation.

Copies of the Rule, as approved by resolution of the Northern Ireland Assembly on 10 June 2024, may be purchased from the Stationery Office at www.tsoshop.co.uk or by contacting TSO Customer Services on 0333 202 5070 or viewed online at http://www.legislation.gov.uk/nisr.