The Department for Work and Pensions (DWP) is under renewed pressure from the Association of Member-Directed Pension Schemes (AMPS) to set out a timetable for its response to the recent general levy consultation which could see small self-administered schemes (SSAS) hit with an additional annual £10,000 charge.
The industry body for self-invested pension providers said SSAS administrators and advisers were being kept in the dark due to a lack of clarity over the consultation timetable which has "real-world consequences with business owners pausing decisions on the setting up of a SSAS, impacting the SSAS administration sector's growth". The DWP consultation on proposed changes to the general levy on pension schemes closed on 13 November last year. It asked for views on proposed changes to the structure and rates of the levy on occupational and personal pension schemes. AMPS explained the...
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