Views are sought on the proposed draft regulations making tax changes to the pensions tax framework as a result of the public service pensions remedy.
These changes will impact pension scheme administrators and members of public service pension schemes affected by the remedy.
The draft regulations provide pension scheme administrators with details of the tax changes they will need to consider as a result of the remedy. Pension scheme members will receive further information contact from their pension scheme in due course.
This consultation closes at 11:59pm on 6 January 2023.
This technical consultation seeks views from pension scheme administrators on these draft regulations. These regulations set out changes to how the pensions tax rules will apply to pension scheme administrators and members of public service pension schemes as a result of the public service pensions remedy.
These regulations will make changes to how pensions tax legislation operates in certain circumstances, including changes to how schemes will need to report and pay extra tax charges or reclaim overpaid tax and ensure that schemes can pay pension benefits as authorised payments.
This legislation is intended to take effect from 6 April 2023 but some provisions will have a retrospective effect.
How to respond to this consultation
You can send your views on whether any issues arise for your pension scheme in operating the changes set out in the draft regulations by email to: firstname.lastname@example.org by 11.59pm on 6 January 2023.