Does a scheme in an assessment period still have to pay the pension protection and the administration levies?
Yes. Schemes that have entered into an assessment period are necessarily eligible schemes and are therefore liable to pay the associated levies as set out in the Pensions Act 2004. There is no certainty when a scheme enters into an assessment period whether or not the Pension Protection Fund will ultimately assume responsibility for the scheme hence that scheme remains liable to pay the levies.
Related Questions
- I am a freelance GP locum with no other Scheme membership. Can I pay my GP locum contributions into a Stakeholder Pension and then transfer the money into the NHS Pension Scheme?
- If an employee is terminated and the rehired, either immediately (usually for pension requirements) in the same or following pay period how would this be managed in CRS?
- Does a scheme in an assessment period still have to pay the pension protection and the administration levies?
