Pension Scheme General Levy Review

Occupational and Personal Pension Schemes (General Levy) Review 2019: Public Consultation

The consultation published by the DWP in October 2019 sought views on options to raise the levy rates from April 2020. 

The PLSA is a strong supporter of good, proportionate regulation that results in well-run schemes and appropriate member protection.

However, the PLSA is unable to support the options as presented in the consultation document. Instead, the most appropriate course of action is for the Government to work with industry to: 

  • Conduct a structural review of the General Levy and the Fraud Compensation Levy,  
  • Provide greater transparency on the deficit and forecast costs.
  • Develop greater accountability on costs and impacts.