Proceeding contribution from Lord Hunt of Kings Heath (Labour) in the House of Lords on Thursday, 2 March 2006. It occurred during Debates on delegated legislation on Occupational Pension Schemes (Levy Ceiling) Order 2006.
Occupational Pension Schemes (Levy Ceiling) Order 2006
About 5 per cent of schemes will be affected by the 0.5 per cent cap so will not be paying a full risk-based levy. Fewer than 5 per cent of schemes will pay no risk-based levy at all. As far as the ceiling is concerned, yes, that is the absolute ceiling, but on top of that the administration levy of £15 million falls to be paid. If you ever reached the ceiling, you would still have to pay the administration levy on top of that.
Secondary information
- Type
- Proceeding contribution
- Reference
- 679 c209-10GC
- Session
- 2005-06
- Chamber / Committee
- House of Lords Grand Committee
- Subjects
- Companies Finance Fees and charges Liability Insurance Increases Workplace pensions Pension Protection Fund
- Legislation
- Occupational Pension Schemes (Levy Ceiling) Order 2006
- Link
- View this Proceeding contribution on www.publications.parliament.uk
Librarians' tools
- Timestamp
- 2024-04-22 01:49:34 +0100
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_304626
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