Home News Derogation for one member arrangement pension schemes ends on 21 April 2026

Derogation for one member arrangement pension schemes ends on 21 April 2026

Today, the Pensions Authority reminds trustees of one-member arrangements (OMAs) of the action they must take to comply with their obligations under the Pensions Act from 22 April 2026.

OMAs established before 22 April 2021 have been exempt from the obligations introduced by the European Union (Occupational Pension Schemes) Regulations 2021. This exemption expires on 21 April 2026.

Just like all other relevant pension schemes, any OMA continuing after 21 April 2026 will be required to meet a number of additional obligations, including:

  • Appointment of risk and internal audit key function holders.
  • Minimum experience and qualification obligations for trustee boards.
  • Additional investment rules, including obligations relating to regulated investments and diversification.
  • Preparation of an own-risk assessment.

For many OMAs, it may not be financially viable to comply with these obligations. Any trustees who have not already done so should immediately contact their scheme administrator to understand what their compliance obligations or consolidation options are. 

Failure by trustees to comply with their obligations may result in prosecution by the Authority.