Pension scheme types

Produced by Tolley in association with

Employment Tax

Guidance

In the Autumn Statement 2023, the Government announced a whole suite of policies around pensions reform which may affect employer requirements in providing pensions to employees. For details, please see the Pension contributions and pension advice guidance note.

The main types of pensions arrangements in the UK are:

•
occupational pensions, including master trust schemes such as the National Employment Savings Trust (NEST)
•
personal pensions, including stakeholder pensions

This guidance note provides an overview of these schemes.

Registered pension schemes

Before summarising the types of scheme listed above, it is important to be aware that this guidance note discusses registered pension schemes only. A pension scheme is a registered pension scheme at any time when, either through having applied for registration and been registered by HMRC, or through acquiring registered status by virtue of being an approved pension scheme on 5 April 2006, it is registered under FA 2004, ss 153–159. See the Qualifying conditions for registering a pension scheme guidance note for more details.

Unregistered pension schemes do not enjoy the same favourable

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Popular Articles

Value Added Tax

Exemption ― burial and cremation

Exemption ― burial and cremationThis guidance note provides an overview of the VAT treatment of services that are provided in connection with the burial or cremation of human remains.VAT treatmentThe following services are exempt from VAT:•the disposal of the remains of the dead•making arrangements

14 Jul 2020 11:38 | Produced by Tolley Read more

Corporation Tax

Non-trading deficits on loan relationships

Non-trading deficits on loan relationshipsOverview of non-trading deficits (NTDs)When a company’s debits on its non-trading loan relationships and derivative contracts in an accounting period exceed the credits on its non-trading loan relationships and derivative contracts in the same period (the

14 Jul 2020 12:17 | Produced by Tolley Read more

Corporation Tax

Qualifying charitable donations

Qualifying charitable donationsCompanies can obtain corporation tax relief for qualifying payments or certain transfers of assets to charity under the qualifying charitable donations regime. Definition of qualifying charitable donationThe definition of ‘qualifying charitable donations’

14 Jul 2020 13:03 | Produced by Tolley Read more

UU��ֱ��