The Government published its intentions for reforming the law governing occupational pensions on 11 June, following the end of the December 2002 Green Paper’s consultation period. The Green Paper had been criticised for neither being radical nor concrete enough, particularly when compared to the Inland Revenue’s proposals for simplifying the tax regime for pension schemes. The new action plan seeks to address those criticisms with firm proposals on key issues. Andrew Smith, in the foreword to the action plan, states that "the package of measures strikes a balance between protection for members and easing burdens on companies running schemes."
We provide a brief bullet point summary of the proposals, and discuss the main points in more detail.
