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ARTICLE · 06 NOVEMBER 2017

What's Happening In Pensions - October 2017

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The PPF has published a joint policy statement and consultation on the draft 2018/19 pension protection levy determination and associated documents.

United KingdomCriminal Law
Travers Smith LLP
Travers Smith LLP
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IN THIS ISSUE:

  • Pension protection levy: The PPF has published a joint policy statement and consultation on the draft 2018/19 pension protection levy determination and associated documents. It is also consulting on new standard form contingent asset agreements. Existing contingent asset agreements, for example guarantees or charges, do not need to be amended in order to be recognised for the PPF levy year 2018/19 but may need to be amended in order to be recognised for the PPF levy year 2019/20 and thereafter.
  • VAT on insurers' investment fees: HMRC has announced that from 1 January 2018 it is discontinuing its policy of allowing insurers to treat their supplies of certain pension fund management services (supplies to schemes that are not SIFs) as VAT exempt insurance. This is expected to affect some DB pension schemes.

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