The Pensions and Lifetime Savings Association (PLSA) gives its reaction to the General Levy Consultation.
Joe Dabrowski, Head of DB, LGPS, and Standards, PLSA, said: “It’s disappointing that after calling last year for a structural review we are only now seeing the proposed changes, without discussion with industry, and at such short notice before increases apply.
“We support the work of the bodies funded by the levy. But as we called for in the last consultation, there needs to be greater transparency around which costs relate to which bodies, areas of activities, projects and scheme types – as well as which are borne for the greater good where some cross subsidy might be expected. We are also disappointed that the document doesn’t respond to our call for greater accountability for closer management of these cost and levy rises over time.
“We would like to see a carve out for deferred small pots which would avoid levies being charged more than once for the same members in a scheme.”
Mark Smith, Senior PR Manager
020 7601 1726 | [email protected]k
Steven Kennedy, PR Manager
020 7601 1737 | 07713 073024 | [email protected]