In previous communications we have highlighted the need for employers and trustees to amend scheme rules before 6 April 2011 in order to retain features of the tax regime that existed before April 2006 (including the “earnings cap” and limits on benefits). Schemes that have not been amended could face a significant increase in liabilities if action is not taken.
Employers and trustees should not delay looking at this issue. It is very important.
Agenda item 6 – Check that steps have been taken to preserve limits as appropriate.