S.I. No. 559/2005 - Occupational Pension Schemes (Fees) (Amendment) Regulations 2005

S.I. No. 559 of 2005 .

OCCUPATIONAL PENSION SCHEMES (FEES) (AMENDMENT) REGULATIONS 2005

The Minister for Social and Family Affairs, in exercise of the powers conferred on him by section 5, 5B and 25 of the Pensions Act 1990 (No. 25 of 1990), hereby makes the following Regulations:—

Citation

1.  These Regulations may be cited as the Occupational Pension Schemes (Fees) (Amendment) Regulations 2005.

Amendment of Definitions

2.  The Occupational Pension Schemes (Fees (Amendment) Regulations 2002 ( S.I. No. 610 of 2002 ) are amended—

(a)  by substituting the following for the definition of “active member”:

“ ‘active member’—

(a)  in relation to a scheme (other than a north south scheme) commencing in the year of account means any member who is resident in the State and in reckonable service at the commencement of the scheme,

(b)  in relation to a scheme (other than a north south scheme) that commenced prior to the year of account means any member who is resident in the State and in reckonable service at the commencement date, preceding the year of account, of the scheme year,

(c)  in relation to a north south scheme commencing in the year of account means any member who is in reckonable service in relevant employment in the State at the commencement of the scheme, and

(d)  in relation to a north south scheme that commenced prior to the year of account means any member who is in reckonable service in relevant employment in the State at the commencement date, preceding the year of account, of the scheme year;”,

and

(b)  by inserting the following definition after the definition of “frozen scheme”—

“ ‘north south scheme’ means any scheme provided under the Agreement between the Government of Ireland and Government of the United Kingdom of Great Britain and Northern Ireland establishing Implementation Bodies done at Dublin on the 8th day of March 1999;”.

The Minister for Finance hereby consents to the making of the foregoing Regulations.

EXPLANATORY NOTE.

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

In accordance with the Occupational Pension Scheme (Fees) (Amendment) Regulations 2002, fees payable to the Board are in respect of members, resident in the State, who are in reckonable service at the commencement date of the relevant scheme year.

This regulation establishes different criteria in relation to schemes for staff of implementation bodies (north south schemes) established pursuant to the Agreement between the Government of Ireland and Government of the United Kingdom of Great Britain and Northern Ireland done at Dublin on the 8th day of March 1999.

As the scheme is established in this country and in the United Kingdom, there is a need to clarify arrangements for the payment of fees to the appropriate regulatory bodies. For consistency it was decided to mirror the arrangements entered into by the Revenue Authorities in both jurisdictions who have agreed a position on the taxation of benefits and contributions — the tax jurisdiction is determined by where the individual's employment is based.

This regulation provides therefore that fees are payable to the Pensions Board in respect of members who are in reckonable service in employment in this State at the commencement date of the relevant scheme year.