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2.—(1) The Schedule to the Occupational and Personal Pension Schemes (General Levy) Regulations 2005 (amount of the general levy)(1) is amended as follows.
(2) For paragraph 2 substitute—
“2. This table relates to defined benefits schemes and hybrid schemes(2) for the financial year beginning with 1st April 2024—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £68 | |
12 to 99 | £6.75 multiplied by M | Not applicable |
100 to 999 | £4.88 multiplied by M | £669 |
1,000 to 4,999 | £3.79 multiplied by M | £4,876 |
5,000 to 9,999 | £2.89 multiplied by M | £18,947 |
10,000 to 499,999 | £2.01 multiplied by M | £28,898 |
500,000 or more | £1.52 multiplied by M | £1,004,998.”. |
(3) For paragraph 3 substitute—
“3. This table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2025—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £73 | |
12 to 99 | £7.19 multiplied by M | Not applicable |
100 to 999 | £5.19 multiplied by M | £712 |
1,000 to 4,999 | £4.04 multiplied by M | £5,185 |
5,000 to 9,999 | £3.07 multiplied by M | £20,196 |
10,000 to 499,999 | £2.14 multiplied by M | £30,697 |
500,000 or more | £1.62 multiplied by M | £1,069,998.”. |
(4) For paragraph 4 substitute—
“4. This table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2026—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £77 | |
12 to 99 | £7.66 multiplied by M | Not applicable |
100 to 999 | £5.53 multiplied by M | £759 |
1,000 to 4,999 | £4.30 multiplied by M | £5,525 |
5,000 to 9,999 | £3.27 multiplied by M | £21,496 |
10,000 to 499,999 | £2.28 multiplied by M | £32,697 |
500,000 or more | £1.73 multiplied by M | £1,139,998.”. |
(5) For paragraph 5 substitute—
“5. This table relates to money purchase schemes(3) for the financial year beginning with 1st April 2024—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £47 | |
12 to 99 | £4.60 multiplied by M | Not applicable |
100 to 999 | £3.32 multiplied by M | £456 |
1,000 to 4,999 | £2.59 multiplied by M | £3,317 |
5,000 to 9,999 | £1.97 multiplied by M | £12,948 |
10,000 to 499,999 | £1.37 multiplied by M | £19,699 |
500,000 or more | £1.04 multiplied by M | £684,999.”. |
(6) For paragraph 6 substitute—
“6. This table relates to money purchase schemes for the financial year beginning with 1st April 2025—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £50 | |
12 to 99 | £4.90 multiplied by M | Not applicable |
100 to 999 | £3.54 multiplied by M | £486 |
1,000 to 4,999 | £2.76 multiplied by M | £3,537 |
5,000 to 9,999 | £2.10 multiplied by M | £13,798 |
10,000 to 499,999 | £1.46 multiplied by M | £20,998 |
500,000 or more | £1.11 multiplied by M | £729,999.”. |
(7) For paragraph 7 substitute—
“7. This table relates to money purchase schemes for the financial year beginning with 1st April 2026—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £53 | |
12 to 99 | £5.22 multiplied by M | Not applicable |
100 to 999 | £3.77 multiplied by M | £517 |
1,000 to 4,999 | £2.94 multiplied by M | £3,767 |
5,000 to 9,999 | £2.23 multiplied by M | £14,698 |
10,000 to 499,999 | £1.56 multiplied by M | £22,298 |
500,000 or more | £1.18 multiplied by M | £779,999.”. |
(8) For paragraph 8 substitute—
“8. This table relates to Master Trust schemes(4) for the financial year beginning with 1st April 2024—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £34 | |
12 to 99 | £3.34 multiplied by M | Not applicable |
100 to 999 | £2.42 multiplied by M | £331 |
1,000 to 4,999 | £1.89 multiplied by M | £2,418 |
5,000 to 9,999 | £1.43 multiplied by M | £9,449 |
10,000 to 499,999 | £1.00 multiplied by M | £14,299 |
500,000 or more | £0.76 multiplied by M | £499,999.”. |
(9) For paragraph 9 substitute—
“9. This table relates to Master Trust schemes for the financial year beginning with 1st April 2025—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £36 | |
12 to 99 | £3.56 multiplied by M | Not applicable |
100 to 999 | £2.57 multiplied by M | £353 |
1,000 to 4,999 | £2.01 multiplied by M | £2,568 |
5,000 to 9,999 | £1.52 multiplied by M | £10,048 |
10,000 to 499,999 | £1.07 multiplied by M | £15,199 |
500,000 or more | £0.81 multiplied by M | £534,999.”. |
(10) For paragraph 10 substitute—
“10. This table relates to Master Trust schemes for the financial year beginning with 1st April 2026—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £39 | |
12 to 99 | £3.79 multiplied by M | Not applicable |
100 to 999 | £2.74 multiplied by M | £376 |
1,000 to 4,999 | £2.14 multiplied by M | £2,738 |
5,000 to 9,999 | £1.62 multiplied by M | £10,698 |
10,000 to 499,999 | £1.14 multiplied by M | £16,199 |
500,000 or more | £0.86 multiplied by M | £569,999.”. |
(11) For paragraph 11 substitute—
“11. This table relates to the financial year beginning with 1st April 2024—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £15 | |
12 to 99 | £1.33 multiplied by M | Not applicable |
100 to 999 | £0.94 multiplied by M | £132 |
1,000 to 4,999 | £0.80 multiplied by M | £940 |
5,000 to 9,999 | £0.53 multiplied by M | £4,000 |
10,000 to 499,999 | £0.40 multiplied by M | £5,300 |
500,000 or more | £0.30 multiplied by M | £200,000.”. |
(12) For paragraph 12 substitute—
“12. This table relates to the financial year beginning with 1st April 2025—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £16 | |
12 to 99 | £1.42 multiplied by M | Not applicable |
100 to 999 | £1.00 multiplied by M | £141 |
1,000 to 4,999 | £0.85 multiplied by M | £999 |
5,000 to 9,999 | £0.57 multiplied by M | £4,250 |
10,000 to 499,999 | £0.43 multiplied by M | £5,700 |
500,000 or more | £0.32 multiplied by M | £215,000.”. |
(13) For paragraph 13 substitute—
“13. This table relates to the financial year beginning with 1st April 2026—
Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy |
---|---|---|
2 to 11 | £17 | |
12 to 99 | £1.51 multiplied by M | Not applicable |
100 to 999 | £1.06 multiplied by M | £150 |
1,000 to 4,999 | £0.91 multiplied by M | £1,059 |
5,000 to 9,999 | £0.60 multiplied by M | £4,550 |
10,000 to 499,999 | £0.46 multiplied by M | £6,000 |
500,000 or more | £0.34 multiplied by M | £230,000.”. |
S.I. 2005/626, amended by S.I. 2021/214, (“the 2005 Regulations”); there are other amending instruments but none is relevant.
A “defined benefits scheme” and a “hybrid scheme” are both defined in paragraph 1 of the Schedule to the 2005 Regulations.
A “money purchase scheme” is defined in paragraph 1 of the Schedule to the 2005 Regulations.
A “Master Trust scheme” is defined in paragraph 1 of the Schedule to the 2005 Regulations.
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