The following Employment Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
Created by the Pensions Act 2004 (subscription sensitive), The Pensions Regulator (TPR) replaced the Occupational Pensions Regulatory Authority (OPRA) from 6 April 2005. TPR has wider powers and a more proactive and risk-based approach to the regulation of occupational pension schemes.
TPR has a clear set of objectives, as follows:
To meet these objectives, TPR concentrates its resources on schemes which pose the greatest risk to the security of members’ benefits. The regulator also promotes high standards of scheme administration and works to ensure that those involved in running pension schemes have the necessary skills and knowledge.
Registered pension schemes have three months from the date of registration with HMRC to register the scheme with the regulator. The scheme trustees or scheme managers could face a fine if they do not do this on time.
For many schemes, the information required is very straightforward, such as the name and
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