Private pensions regulations: simplifying the administration of pension schemes
Download the full outcome
Detail of outcome
The government response summarises the consultation responses received and outlines any changes to the regulations following the consultation.
We would like to thank all the organisations who have offered their views and advice in response to this consultation.
We intend to make amending regulations introducing these changes which will come into force on 6 April 2014.
The Miscellaneous Amendment Regulations package will also contain amendments to the Transfer of Employment (Pension Protection) Regulations 2005. These will ensure that new employers, following a business transfer, are not required to make higher contributions than an employer might have to pay under the automatic enrolment phasing profile.
Original consultation
Consultation description
This consultation seeks views on draft regulations that introduce technical changes to simplify the administration of private pension schemes. The draft regulations:
- outline a solution to address the issues faced by large multi-employer schemes when they appoint auditors
- clarify pension scheme trustees’ liability when a pension has been secured by an insurance policy or annuity contract and clarify when a proportion of the benefits may be paid as a lump sum
- correct a reference in Regulation 10 of the Employer Debt Regulations, which sets out what should be done when there has been criminal fraud
We welcome comments from pensions industry professionals, pension scheme members, employers, representative organisations and any other interested groups.
Documents
Last updated 13 March 2014 + show all updates
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Published the government response to the consultation.
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First published.