The above Regulations came into force on 1 April 2010 and focus on two main areas:

  • Introducing the necessary mechanism to enable schemes qualifying for the Financial Assistance Scheme (FAS) which have not completed winding-up to transfer their residual assets to the Government; and
  • Allowing members to take a 25 per cent pension commencement lump sum in certain circumstances.

View the explanatory memorandum (pdf 95.16kb)to the Regulations.