Occupational Pension Schemes (Professional Guidance) (Amendment) Regulations, 2014

Publication Date:January 01, 2014
 
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S.I. No.217of2014

Occupational Pension Schemes (Professional Guidance) (Amendment) Regulations, 2014

I, JOAN BURTON T.D., Minister for Social Protection, in exercise of the powers conferred on me by section 5 (as amended by section 37 of the Social Welfare and Pensions Act 2007 (No. 8 of 2007)) and section 7A (as amended by section 22 of the Social Welfare and Pensions Act 2012 (No. 12 of 2012)) of the Pensions Act 1990 (No. 25 of 1990), hereby make the following Regulations:

Citation and Commencement

1. These Regulations may be cited as the Occupational Pension Schemes (Professional Guidance) (Amendment) Regulations, 2014.

2. These Regulations shall come into operation on 1 June 2014.

Amendment

3. Article 2 of the Occupational Pension Schemes (Professional Guidance) Regulations 2005 ( S.I. No. 603 of 2005 ) (as amended by Article 2 of the Occupational Pension Schemes (Professional Guidance)(Amendment) Regulations 2012 ( S.I. No. 202 of 2012 )) is amended by substituting for Article 2(a) the following:

"(a) the Society of Actuaries in Ireland or the Pensions Authority in relation to the calculation of transfer payments in accordance with section 34 of the Pensions Act 1990 ,".

GIVEN under my Official Seal,

21 May 2014.

JOAN BURTON TD,

Minister for Social Protection.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

Section 7A of the Pensions Act provides for guidance specified in regulations made under the Pensions Act 1990 . Any such guidance so specified shall not be altered without the prior consent of the Minister for Social Protection.

These Regulations extend the provisions in the Occupational Pension Schemes (Professional Guidance) Regulations, 2005 and 2012 to include guidance made by the Pensions Authority in accordance with section 34 of the Pensions Act 1990 .

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