The Chartered Institute of Payroll Professionals
News On Line
This is the first progress report that has been released since the group formed back in March 2021. The group’s main purpose is to find a solution to the ever-increasing issue of small deferred pots in the Defined Contribution (DC) pension system.
The report reveals that there are three million deferred savers invested in default options, holding pension pots with values below £100. There are also 10.5 million savers with pot values of less than £1,000. The working group is currently focusing on finding solutions for pots of less than £500.
When addressing existing small pension pots, the eventual solutions must also work to target the spread of new small pension pots.
Read the report in full here.
Back to contents
Recognised overseas pension schemes notification list 5 October 2021
The list of Recognised Overseas Pensions Schemes (ROPS) notifications has been updated.
The list is of schemes that have told HMRC they meet the conditions to be a ROPS and have asked to be included on the list.
There have been 22 scheme names added to the list, and two removed. No amendments have been cited in this update.
A very welcome change is that HMRC now list the updates, as follows.
Schemes added
Australia
A Pytches Super Fund AJW Super Fund B Lavin Family SMSF Cameron Superannuation Fund Cannell Family Superannuation Fund GD Super Geronimo Superannuation Fund Harcourt Hill Super Fund Higgins ROPS Fund Iannuzzelli Family Superannuation Fund John and Megan Campbell Superannuation Fund Jonathan Cole Superannuation Fund Mac01 Superannuation Fund McAndrew JC SMSF MJG SMSF Nightingale Retirement Fund
Sheehan SMSF Super Street Retirement Fund
The Paul & Elaine Superannuation Fund The RC Matthews Jackson Super Fund The Trustee for Hamaul Super Fund The Trustee for Omega Retirement Super Fund The Trustee for Peter KNM Super Fund Wann SMSF
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 180 of 220
Made with FlippingBook - Online magazine maker