Closed consultation

The Finance Act 2004 (Registered Pension Schemes and Annual Allowance Charge) Order 2024

• From: HM Revenue & Customs
• Published: 29 January 2024

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Summary

We welcome views on this technical consultation on draft regulations to make changes to how pension input is calculated in a legacy public service pension scheme against the Annual Allowance.

This consultation ran from
5pm on 29 January 2024 to 11:59pm on 26 February 2024

Consultation description

This draft statutory instrument contains provisions for pensionable service in specified legacy (closed) and service in a reformed (open) public service pension scheme to be combined for the purposes of calculating an individual’s pension input amount against their Annual Allowance.

This will allow the offset of pension input in a legacy scheme against input in a reformed scheme where they relate to the same employment. This will be of interest to scheme administrators of public service pension schemes and individuals who are in both a legacy and reformed public service pension scheme.

These changes were announced at Spring Budget 2023.

Documents

(Draft) The Finance Act 2004 (Registered Pension Schemes and Annual Allowance Charge) Order 2024

ODT, 22.9 KB

This file is in an OpenDocument format

Published 29 January 2024