GD and CJ Hemphill SMSF Kalagari SMSF KVarlow Super Fund Leeming Super Fund Mehta Super NazrooSF Prince Super Fund Treasure Island Super Watson-Lynch Retirement Fund
Ireland
LEC Ireland Employment Ltd Pension Scheme
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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New consultation proposes increases to the general levy 18 December 2020
A new consultation, that was launched on 16 December 2020, proposes that the general levy should increase by 120% by 2024 for Defined Benefit (DB) schemes, but that master trusts will be granted a different rate.
The general levy is paid by all registered occupational and personal pension schemes, and recovers the funding provided by the Department for Work and Pensions (DWP) in relation to the core activities of The Pensions Regulator (TPR), the activities of The Pensions Ombudsman (TPO) and a portion of the activities of the Money and Pensions Service (MaPS). A variety of factors has resulted in a gap widening in the DWP’s finances, including a 12-year freeze on levy rates, reductions in 2012 and for larger schemes in 2017. In addition to this, the funded bodies have had wider responsibilities placed on them, which has meant increased cost. The consultation is seeking views on the Government’s proposed options for change to the structure and rates of the General Levy from April 2021, 2022 and 2023, and is directed at occupational pension scheme trustees, sponsoring employers of pension schemes and personal pension providers, in particular, but comments from the general public are also welcome. The Government’s favoured approach would be to calculate levy payments differently for DB, Defined Contribution (DC), master trusts and personal pension schemes, but the levy would still be based on how many members are in a scheme. Different rates would be applied in relation to the level of resource required to regulate and support various sectors.
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Recognised overseas pension schemes notification list 5 January 2021
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.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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