S.I. No. 268 of 2014

Print page

S.I. No. 268 of 2014


Occupational Pension Schemes (Funding Standard) (Amendment) Regulations 2014




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


These Regulations revise the list of schemes exempt from the funding standard requirements set down in Part IV of the Pensions Act 1990.

The funding standard applies to defined benefit schemes and will ensure that, over a period, sufficient assets are held within the scheme to meet liabilities in the event of the scheme being wound up. Trustees of schemes are required to submit actuarial funding certificates and funding standard reserve certificates to the Pensions Board at regular intervals for the purpose of certifying whether or not the scheme satisfies the funding standard and funding standard reserve at the effective date.

Provision for exemption from the funding standard and the funding standard reserve requirements is provided for in Section 52 of the Pensions Act, 1990 and in EU Directive 2003/41/EC.

These regulations provide for the revision of the list of schemes specified in Schedule C of S.I. 419 of 1993 as previously revised by S.I. 135 of 2013.

Last modified:27/02/2017