S.I. No. 774/2021 - Occupational Pension Schemes (Fees) (Amendment) Regulations 2021

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 11th January, 2022.

I, HEATHER HUMPHREYS T.D., Minister for Social Protection, in exercise of the powers conferred on me by section 5 and 25 (amended by section 37 of the Social Welfare and Pensions Act 2007 (No. 8 of 2007)) of the Pensions Act 1990 (No. 25 of 1990) (as adapted by the Employment Affairs and Social Protection (Alteration of Name of Department and Title of Minister) Order 2020 ( S.I. No. 447 of 2020 )), with the consent of the Minister for Public Expenditure and Reform, hereby make the following Regulations:

1. (1) These Regulations may be cited as the Occupational Pension Schemes (Fees) (Amendment) Regulations 2021.

(2) These Regulations come into operation on 1 January 2022.

2. Article 4 (amended by article 2 of the Occupational Pension Schemes (Fees) (Amendment) Regulations 2010 ( S.I. No. 634 of 2010 )) of the Occupational Pension Schemes (Fees) (Amendment) Regulations 2002 ( S.I. No. 610 of 2002 ) is amended—

(a) in sub-article (2)(a), by substituting “€12.00” for “€8.00”,

(b) in sub-article (2)(b), by substituting “€6,000” for “€4,000”, and

(c) in sub-article (2)(c), by substituting “€6.00” for “€4.00”.

The Minister for Public Expenditure and Reform consents to the making of the foregoing Regulations.

GIVEN under the Official Seal of the Minister for Public Expenditure and Reform,

21 December, 2021.

MICHAEL MCGRATH,

Minister for Public Expenditure and Reform.

GIVEN under my Official Seal,

21 December, 2021.

HEATHER HUMPHREYS,

Minister for Social Protection.

EXPLANATORY NOTE

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

Section 25 of the Pensions Act 1990 provides for the payment of annual fees by occupational pension schemes to the Pensions Authority. These Regulations provide for increases in the level of fees with effect from 1 January 2022.