Draft regulations issued 20 May 2011.
Consultation ends 17 June 2011
The draft Occupational Pension Schemes (Assignment, Forfeiture, Bankruptcy etc.) (Amendment) Regulations 2011
The DWP has issued a consultation on draft legislation amending the current prohibition on forfeiture to allow the introduction of "scheme pays" facilities. The "scheme pays" facility will allow members whose annual allowance charge is a minimum £2,000 to request that their scheme meets the charge with a corresponding reduction in benefits, rather than the individual paying for it through their self-assessment tax return.