PPF modification amendments 2016
PPF modification amendments 2016

The PLSA responded to the public consultation regarding The Draft Pension Protection Fund (Modification) (amendment) Regulations 2017.  In its response, PLSA suggested some further revisions to drafting to make it clear how the separate aggregation of compensation attributable to pensionable service or to pension credit is to be accomplished.  PLSA also observed that while it makes sense that the cap on discharges of defined contribution pots be raised to £10k to mirror the rise to £10k for private pension schemes that may ow discharge small lump sums without consent, there may be room for further consideration of lump sums in lieu of transfer now that unlimited withdrawals from defined contribution pots are allowed under the tax laws. 

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Penny Pilzner

Penny Pilzer
Policy Consultant