HMRC have made the following pension-related Statutory Instruments:
- SI 2023/113 – The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2023 – these Regulations make modifications for the purposes of applying the correct tax treatment to public service pension schemes which are affected by the rectification of discrimination provisions contained in the Public Service Pensions and Judicial Offices Act 2022 (c. 7);
- SI 2023/116 – The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order 2023 – this Order specifies the earnings percentage used to calculate the levy ceiling (article 3) and the amount of the levy ceiling (article 4) for use in relation to the Pension Protection Fund in the financial year beginning on 1st April 2023 (but see the following SI 2023/117); and
- SI 2023/117 – The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) (No. 2) Order 2023 – this Order specifies the earnings percentage used to calculate the levy ceiling (article 3) and the amount of the levy ceiling (article 4) for use in relation to the Pension Protection Fund in the financial year beginning on 1st April 2023. Article 6 of this Order revokes the Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order 2023 (S.I. 2023/116) which contained errors.
Related content from Claritax Books
Pension Tax Guide is a thorough and practical guide to the complexities of the UK pension rules, and to the part they play in legitimate tax planning. Suitable for accountants, tax specialists and other finance professionals, the book is written by Katharine Lindley, a client director with EQ Investors.
