DWP Annual Levy Consultation
15/11/2023
The DWP recently published a consultation paper regarding proposals to increase the Pensions Regulator levy for pension schemes with two or more members.
The levy for SSASs currently stands at £44 a year and the consultation suggests options ranging from no change to £10,000!
The most likely outcome is a 6% increase in the annual levy to £47 which the DWP have explained will be sufficient to plug the black hole in their finances.
We will of course keep you informed of the outcome of the consultation.