Final guidance on DB to DC transfers The greater flexibility offered to members of DC schemes to access their pension savings from 6 April has the potential to increase the number of members requesting a transfer of their benefits.
Read the final guidance which helps trustees and managers of DB schemes to manage member requests for transfers into DC schemes and conversions of benefits within the same scheme.
Compliance and enforcement policy for public service pension schemes 9 June 2015
The Pensions Regulator has published details of how they will support public service pension schemes to meet the required standards of governance and administration, and what they might do in cases of non-compliance.
The Regulator recognise that the reforms are significant and those involved with public service schemes face complex and challenging conditions, so they want to work with you to help you meet the new standards set out in law. The Compliance and enforcement policy for public service pension schemes policy sets out the Regulator’s approach to compliance and enforcement in relation to public service pension schemes, which are those principally covering civil servants, the judiciary, local government workers, teachers, health service workers, fire and rescue workers and members of police and armed forces. It describes the Regulator’s expectations for compliance with relevant legal requirements and how they will proceed in cases of noncompliance, including when they may use their enforcement powers. This policy relates to public service pension schemes established under the Public Service Pensions Act 2013 and Public Service Pensions Act (Northern Ireland) 2014, new public body pension schemes and other statutory pension schemes which are connected to those schemes. It is not relevant to schemes in the wider public sector which are not public service pension schemes within the meaning of section 318 of the Pensions Act 2004 or Article 2 of the Pensions (Northern Ireland) Order 2005. This policy is relevant to anyone who has legal requirements or responsibilities relating to the management or administration of a public service pension scheme, or where those responsibilities have been delegated or outsourced – for example scheme managers, pension boards and administrators. It is also relevant to anyone else who could be subject to any of our statutory powers of investigation and enforcement, such as employers and professional advisers.
For further help and practical guidance, visit the public service section of the Regulator’s website.
Pension schemes newsletter 69 18 June 2015
The latest pension schemes newsletter, published by HMRC, includes updates and guidance on relief at source, pension flexibility and Recognised Overseas Pension Schemes.
Newsletter 69 includes information on:
Relief at source - annual returns of individual information for 2014 to 2015 Registration figures 2014 to 2015 Pension flexibility Certificate of residence
Recognised Overseas Pension Schemes Pension Schemes Online – guidance.
Consultation on pensions tax relief 13 July 2015
CIPP Policy News Journal
25/04/2016, Page 364 of 453
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