Regulatory Alerts2022-01-01
Private Pension Schemes (Disclosure) (Amendment) Rules 2022
The Financial Services Commission issued these rules to amend the Private Pension Schemes (Disclosure) Rules 2012 by inserting a new disclosure requirement into the First Schedule. This amendment mandates that pension schemes report whether they maintain a smoothing reserve. The rules officially came into operation on 16 April 2022.
1482 Government Notices 2022 Veemul iMac4/Govt Notices/2022/The FSA and section 38 of the PPS Act - 13.04.2022 - 1st Proof MINS/SLO Veemul iMac4/Govt Notices/2022/The FSA and section 38 of the PPS Act - 13.04.2022 - 1st Proof MINS/SLO Government Notice No. 81 of 2022 THE PRIVATE PENSION SCHEMES ACT 2012 FSC Rules made by the Financial Services Commission under Section 93 of the Financial Services Act and Section 38 of the Private Pension Schemes Act
- These Rules may be cited as the Private Pension Schemes (Disclosure) (Amendment) Rules 2022.
- In these Rules – “principal Rules” means the Private Pension Schemes (Disclosure) Rules 2012; “smoothing reserve” has the same meaning as in the Private Pension Schemes (Technical Funding Requirement) Rules 2013.
- The First Schedule of the principal Rules is amended in Part I, by inserting after item 10, the following new item 11, the existing item 11 being renumbered 12 –
- Whether the scheme maintains a smoothing reserve
- These Rules shall come into operation on 16 April 2022. Made by the Financial Services Commission on 29 March 2022.