Pension scheme legislation
Three pensions related statutory instruments have recently been laid before Parliament and are relevant mainly to pension schemes.
The three instruments are as follows:
- The Taxation of Pension Schemes (Transitional Provisions) (Amendment No. 2) Order 2009 (SI 2009/1989). This Order makes further transitional provision in relation to the taxation of pensions paid to dependants, specifically children. The new order will come into force on 1 September 2009.
- The Special Annual Allowance Charge (Application to Members of Currently-Relieved Non-UK Pension Schemes) Order 2009 (SI 2009/2031). This order makes modifications to Schedule 35, Finance Act 2009 for individuals who are members of currently-relieved non-UK pension schemes. The new regulations will come into force on 12 August 2009.
- The Pension Schemes (Application of UK Provisions to Relevant Non-UK Schemes) (Amendment) Regulations 2009 (SI 2009/2047) makes modifications to Schedule 29 to the Finance Act 2004 and its application to relevant non-UK schemes. The new regulations will come into force on 13 August 2009.