Read the Institute’s full report: Assessing value for money in defined contribution default funds . Their former report Caveat Venditor considered whether the brave new world of auto- enrolment should be governed by the principle of seller not buyer beware?
HMRC Pensions Newsletter - number 60
17 February 2014
HMRC has published the February 2014 edition of the HMRC Pension Schemes Services Newsletter. Topics covered include:
New Business Head for Pension Schemes Services Changes to our ‘contact us’ internet page Fixed Protection 2014 and Individual Protection 2014 Pension Liberation and our registration and transfers processes
Scottish rate of Income Tax QROPS scheme manager ID.
The newsletter is available to view on HMRC’s website .
DWP Pensions Stakeholder Newsletter
20 February 2014
The DWP’s Pensions Stakeholder Team has circulated an update on protected persons legislation, automatic enrolment exclusions and the Scheme Reconciliation Service.
Protected Persons
You may have seen that the Minister for Pensions laid a Written Ministerial Statement in the House on Wednesday regarding the outcome of the Protected Persons consultation. The consultation invited views as to whether or not these employers should be permitted to use the statutory override to change their pension scheme rules for employees covered by the protected persons legislation. Following the consultation the Government thinks it is reasonable that issues arising from the end of contracting out for this small number of workers should be resolved through negotiation. Therefore the Government proposes that employers should not be allowed to use the statutory override to alter their pension schemes in relation to members with protected person status. Attached is a link to the Minister’s Written Ministerial Statement .
Automatic enrolment exclusions
Also on Wednesday the Government published further information about the situations where they consider an exclusion from the employer duty to automatically enrol workers into workplace pensions may be justified. There are four categories of individuals:
have tax protected status for existing pension savings are on the brink of leaving employment have given notice of imminent retirement recently cancelled membership after being contract joined
Technical Changes to Automatic Enrolment provides further details.
Scheme Reconciliation Service
CIPP Policy News Journal
16/04/2014, Page 444 of 519
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