Impact assessment

Pensions Act 2014 impact assessments: May 2014

This publication was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Summary and documents explaining the measures in the Pensions Act 2014 and their impact.

Documents

Pensions Act 2014 impact assessments summary

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Annex A: Single-tier pension: impact assessment

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Annex B: Long term State Pension sustainability: increasing the State Pension age to 67: impact assessment

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Annex C: Abolition of assessed income periods for Pension Credit: impact assessment

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Annex D: Replacement of existing bereavement benefits for new claims from April 2016: impact assessment

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Annex E: Small pots and automatic transfers: impact assessment

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Annex F: Short service refunds: impact assessment (updated November 2014)

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Annex F: Short service refunds: impact assessment (December 2011)

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Annex G: Charges in qualifying pension schemes: impact assessment

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Annex H: Minimum governance standards for defined contribution workplace pensions: impact assessment

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Annex I: Reduce the frequency of returns to the Pensions Regulator by defined contribution schemes with 2 to 4 members: impact assessment

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Annex J: The Pension Protection Fund compensation cap amendments: impact assessment

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Annex K: Other measures in the Pensions Bill

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Detail

The summary of impacts document explains the measures in the Pensions Act 2014 and summarises their impact. We have also published the impact assessments for the relevant individual measures.

These documents update the Pensions Bill impact assessments published in October 2013.

On 22 July 2014 we published an update to the main analysis of the impact of the single-tier pension reforms. This brings the analysis into line with assumptions used in the Office for Budget Responsibility’s (OBR) Fiscal Sustainability Report published on 10 July 2014.

On 9 February 2015, we published a new version of the short service refunds impact assessment, updated in November 2014. Since the publication of the last impact assessment, Parliament has passed the Pensions Act 2014. Section 36 abolishes short service refunds for new members of occupational defined contribution money purchase pension schemes and comes into force on 1 October 2015. The updated impact assessment reflects the new implementation date and makes use of more recent data