Spring Budget 2017: The tax registration process for master trust pension schemes will be amended to align with the Pensions Regulator’s (TPR) authorisation and supervision regime.
The changes to the registration process were announced in the Spring Budget 2017 policy paper. The alignment aims to increase consumer protection and improve compliance.
Under the Pensions Scheme Bill 2016-17, TPR has new powers to authorise and de-authorise master trusts according to strict authorisation criteria.
Master trusts will have to be authorised by TPR before they can begin operating.
Tynan Barton is a business journalist and has been writing in the employee benefits and HR field for over 15 years. She joined Employee Benefits in 2010 as reporter, and has been features editor since 2011.View full profile
