21 November 2011
The Department of Work and Pensions is consulting on a proposed amendment of the Occupational Pension Schemes (Levies) Regulations 2005.
This proposed amendment deals with the levy which is charged to schemes and used to pay the administration costs of the Pensions Ombudsman, the Pensions Advisory Service and parts of the Pensions Regulator. The levy is raised from schemes on a per-member basis and has not been reviewed in some time.
The likely effect of the amendment would be for a significant reduction in the general levy largely due to a big drop in the part going to the PPF : these administration costs are now being met from the PPF Fund itself.
The consultation period ends on 30th January 2012.
Over to You:
- If you found this content useful, please feel free to share it using the buttons at the bottom of the webpage
- If you’d like to be kept in touch with my writings as they are published, please subscribe to my Mailing List
- If you think I might be able to help your business with your pensions related challenges – please email or call me
Author: Martin Veasey
© www.veaseyassociates.co.uk 2011 – 2020