HMRC Pensions Industry Stakeholder Forum 7 February 2019
The minutes have been made available from the last meeting of the Pensions Industry Stakeholder Forum.
Topics under discussion at the meeting held on 11 October 2018 include:
• RAS and Devolution • Overseas transfer charge • Master Trusts • Manage and Register Pension Schemes service • Non-Taxable Death Benefits • Lifetime Allowance • Lifetime allowance protection and auto enrolment • Clearances • GMP equalisation • Annual Allowance • Trust registration guidance for registered pension schemes
View the Pensions Industry Stakeholder Forum Minutes from the meeting held on 11 October 2018.
CIPP comment The Pensions Industry Stakeholder Forum is an HMRC-sponsored forum that has been set up to help HMRC better manage its relationship with pension industry stakeholders and representative bodies. It is the main route of engagement on operational issues and meets on a bi-annual basis.
If you have anything you would like us to raise on your behalf at the next meeting in April, please email us with the details using ‘.Pensions Industry Stakeholder Forum’ in the subject box.
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Government Response to Consultation on Protecting Defined Benefit Pension Schemes 14 February 2019
The Government is to introduce two new criminal offences to prevent and penalise mismanagement of pension schemes.
In March 2018, a white paper was published ‘Protecting defined benefit pension schemes – a stronger Pensions Regulator’. Measures in this consultation included strengthening the Pensions Regulator’s powers both to enforce pensions legislation and to punish those who have acted recklessly or failed to comply with their obligations. The Government has now published its response to this white paper which sets out respondent’s views and outlines the Government’s approach to progressing and moving forward with this programme of change. The changes will build on the robust system that is already in place to protect Defined Benefit pension schemes and will help to ensure that the system is equipped for the challenge of a continually evolving pension’s landscape. These changes will enable the Pensions Regulator to intervene where employers might evade their obligations, and help to meet their ambition to be ‘clearer, quicker, and tougher’. They will also further protect individuals’ pensions and ensure greater clarity for employers.
The Government will introduce two new criminal offences to prevent and penalise mismanagement of pension schemes:
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