[ S.L.514.06 RETIREMENT PENSIONS (FEES) 1 SUBSIDIARY LEGISLATION 514.06 RETIREMENT PENSIONS (FEES) REGULATIONS * 1st January, 2015 † LEGAL NOTICE 10 of 2015. 1.
(1)The title of these regulations is the Retirement Pensions (Fees) Regulations.
(2)Nothing in these regulations shall be deemed to affect the liability in respect of any fees due under the Special Funds (Fees) R e g u l a t i o n s , 2 0 1 4 , p r i o r to t h e c o m i n g i nt o f o r c e o f t h e s e regulations. Citation. 2. Any reference in these regulations to "the Act" is a reference to the Retirement Pensions Act, and the provisions of article 2 of the Act shall also apply to these regulations. 3. There shall be paid to the competent authority by any service provider, retirement scheme or retirement fund: Interpretation. Cap. 514. (
- a)upon submission of an application for the granting of a licence or recognition, irrespective of whether the application is eventually accepted or not, the application fee specified in the Second Column of the Schedule; L.N. 64 of 2014. Payment of application and annual supervisory fees. (
- b)on the date of the granting of a licence or recognition, the annual supervisory fee specified in the Third Column of the said Schedule; (
- c)thereafter annually, upon the anniversary of such date as is mentioned in paragraph (b), the same annual supervisory fee established in the Third Column of the said Schedule. 4. None of the fees established as due in terms of these regulations shall be refundable or prorated. *These regulations have been repealed by Legal Notice 371 of 2024. †see regulation 1
(2)of these Regulations, as originally promulgated. Non-refundable fees. 2 [ S.L.514.06 RETIREMENT PENSIONS (FEES) SCHEDULE (Regulation 3) First Column Retirement Schemes Retirement Funds Second Column Application Fee € Scheme - 1,500 • Fund - 1,600 • Third Column Supervisory Fee € Scheme - 2500 • Fund - 2,000 Sub-funds (per • sub fund) - 450 Sub-funds (per sub fund) - 500 Retirement Scheme Administrator: (
- a)licensed under the Retirement Pensions Act other than the persons listed in paragraphs (b), (
- c)and (d): (
- i)not performing investment management functions or acting as custodian; 1,000 1,500 (
- ii)performing investment management functions or acting as custodian; 2,000 2,500 [ S.L.514.06 RETIREMENT PENSIONS (FEES) (
- b)already licensed under the Investment Services Act, as a Category 2 or 3 Investment Servic es Licence Holder to provide the relevant Nil services; Nil (
- c)already authorised to car r y ou t lo ng term business under the Insurance Business Act, in class VII ‘pension fund Nil management’; Nil (
- d)in the case of a Retirement Scheme established as a trust, a corporate trustee already licensed to provide trustee services u n d e r t h e Tr u s t s and Trustees Act. Nil Nil 3 4 [ S.L.514.06 RETIREMENT PENSIONS (FEES) Investment Managers (
- a)licensed under the Retirement Pensions Act, other than the persons listed in paragraphs (
- b)and 1,000 (
- c)
- b)authorised by an equivalent non-EU 500 jurisdiction (
- c)licensed under the Investment Services Act to provide investment management services in terms of the Act - or authorised by their home Member State or EEA State Nil Custodians For revenue up to €250,000 900 Further tranches of €250,000 100 per tranche or part thereof Nil Nil (
- a)licensed under the Retirement Pensions Act, other than the persons listed in paragraphs (
- b)and 1,000 (c); 1,000 (
- b)authorised by an equivalent non-EU 500 jurisdiction; Nil (
- c)licensed under the Investment Services Act to act as a custodian or authorised by their home Member State or EEA State. Nil Nil [ S.L.514.06 RETIREMENT PENSIONS (FEES) Retirement Scheme/ Fund Back Office Administrator: (
- a)recognised under the Retirement Pensions Act other than the persons listed in paragraph 300 (b); 700 (
- b)already in possession of a recognition certificate issued under the Investment Services Act, to provide backoffice Nil administration; Nil (
- c)established in a non EU jurisdiction to provide one or more back-office administrative services, as established by Pension Rules. 150 Nil 5