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 ten scheme names added to the list. No deletions or amendments have been cited in this update.
A very welcome change is that HMRC now list the updates, as follows.
Schemes added
Australia
Adawn Super Fund Akiacopi Super Fund Andrew Bernard Tooth QROPS Super Fund Gold Coast Bound Fund K and S Gallacher Superannuation Fund L & A Donoghue Superannuation Fund Park Family Superannuation Fund
Guernsey
Condor Lebensversicherungs-AG Sofort-Rente
Netherlands
Mobiquity B.V. by Brand New Day Stichting Pensioenfonds voor de Architectenbureaus
An updated list of ROPS notifications is published on the first and 15th day of each month. If this date falls on a weekend or UK public holiday the list will be published on the next working day. Sometimes the list is updated at short notice to temporarily remove schemes while reviews are carried out, for example, where fraudulent activity is suspected.
The requirements to be a ROPS changed from 6 April 2017 - find out about the changes for ROPS requirements.
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How The Pensions Regulator has supported businesses through the coronavirus crisis 4 September 2020 The Pensions Regulator (TPR) has published its latest compliance and enforcement quarterly bulletin which discusses cases investigated by the regulator, and, subsequently, the powers that it has used. It is intended to assist employers, advisers, trustees and administrators to understand the work of the regulator and the types of intervention it performs. In addition to this, a press release has been issued: ‘Employers continue to meet pension duties despite COVID-19 challenges’. This details how TPR has supported businesses through the turmoil caused by the outbreak of coronavirus. Although COVID-19 has dramatically changed the workplace and life, more generally, it has been noted that there has not been a significant increase in the number of missed pension contributions, and that most employers are continuing to meet their automatic enrolment duties. This is regardless of the fact that temporary flexibilities resulted in a fall of 55% in the use of TPR’s powers between April and June 2020, when compared to the preceding quarter. TPR used its powers for automatic enrolment breaches 15,733 times in the current quarter, as opposed to 35,174 times in the period between January and March 2020. Additionally, six times fewer Fixed Penalty Notices and five times less Escalating Penalty Notices were issued in this quarter, when compared to the previous one. In order to assist employers through the challenges created by coronavirus, TPR introduced a number of flexibilities, which included allowing employers more time to work with their pension providers to ensure any missing pension contributions were updated, prior to taking any form of enforcement action.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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