SSAS and the general levy: A victory for common sense

Common sense has prevailed. The outcome of the official consultation in respect of the general levy on pension schemes has been released. The levy is imposed on occupational and personal pension schemes, to cover the cost of the funding provided by the Department for Work and Pensions to operate the core activities of The Pension Regulator, The Pension Ombudsman and the Money and Pensions Service (although in respect of the latter, only those activities relating to pensions). The government predicts that the current levy is insufficient to meet the costs of the above regulators and as...