Part XI General and miscellaneous provisions

Financial provisions

I1174F26Grants to advisory bodies etc

1

The F2Regulatory Authority may make grants on such terms and conditions as they think fit to any person or body of persons providing advice or assistance, or carrying out other prescribed functions, in connection with occupational or personal pensions.

2

The Secretary of State may pay the F2Regulatory Authority such sums as he may think fit towards any expenditure of theirs in making grants under this section.

F253

The Secretary of State may make grants on such terms and conditions as the Secretary of State thinks fit to any person or body of persons providing advice or assistance, or carrying out other prescribed functions, in connection with occupational or personal pensions.

I1C1C3C2175F1Levies towards certain expenditure

F11

For the purpose of meeting expenditure—

a

under section 6,

b

under Part X and section 174, F18...

F17c

of the Regulatory Authority (including the establishment of the Authority under the Pensions Act 2004), F28...

d

of the Lord Chancellor in meeting the costs of the legal assistance scheme established by virtue of section 106 of the Pensions Act 2004 (legal assistance in connection with proceedings before F24a tribunal in relation to a decision of the Pensions Regulator),F29or

F29e

under section 11 of the Financial Guidance and Claims Act 2018 (financial assistance from Secretary of State) relating to the F30Money and Pensions Service’s pensions guidance function (see section 3 of that Act),

regulations may make provision for imposing levies in respect of prescribed occupational or prescribed personal pension schemes.

2

Any levy imposed under subsection (1) is payable to the Secretary of State by or on behalf of—

a

the administrators of any prescribed public service pension scheme,

b

the trustees or managers of any other prescribed occupational or prescribed personal pension scheme, or

c

any other prescribed person,

at prescribed rates and at prescribed times.

3

Regulations made by virtue of subsection (1)—

a

in determining the amount of any levy in respect of the Regulatory Authority, must take account (among other things) of F19—

i

any amounts paid to the Secretary of State under section 168(4) of this Act or section 10 of the Pensions Act 1995 (civil penalties), and

ii

any fees paid to the Authority under paragraph 25 of Schedule 1 to the Pensions Act 2004 (fees for certain applications), and

b

in determining the amount of expenditure in respect of which any levy is to be imposed, may take one year with another and, accordingly, may have regard to expenditure estimated to be incurred in current or future periods and to actual expenditure incurred in previous periods (including periods ending before the coming into force of this subsection).

F16C14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16C15

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16C16

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16C17

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

C1F208

An amount payable by a person on account of a levy imposed under this section shall be a debt due from him to the Secretary of State, and an amount so payable shall be recoverable by the Secretary of State accordingly or, if the Secretary of State so determines, by the Regulatory Authority on his behalf.

C19

Without prejudice to the generality of F21subsection (1), regulations under this section may include provision relating to—

a

the collection and recovery of amounts payable by way of levy under this section, or

b

the circumstances in which any such amount may be waived.

I1176 Fees for official services to schemes.

Where at the request of the trustees or managers of an occupational pension scheme or a personal pension scheme or of any employer of earners who are members of such a scheme, official services are provided in connection with the operation or administration of the scheme F3by the Secretary of State, the Secretary of State may require the payment of fees for the provision of those services.

I1177 General financial arrangements.

1

Subject to the following provisions of this section, all expenses incurred by the Secretary of State F8or the Inland Revenue under this Act shall be paid out of money provided by Parliament except so far as they may be required by any enactment to be paid or borne in some other way.

2

There shall be paid out of the National Insurance Fund—

F7za

payments by the Inland Revenue under F14section 41(1D) or section 42A(2C) or (3);

a

minimum contributions paid by the F9Inland Revenue under section 43;

b

payments by F10the Secretary of State under section 124.

3

Subject to subsection (4), there shall be paid out of the National Insurance Fund into the Consolidated Fund—

a

sums equal to the amount of any expenses incurred by the Secretary of State (or by persons acting on his behalf) in exercising his functions under Chapter II of Part VII and section 157;

b

such sums as the Secretary of State may estimate to be the amount of the administrative expenses of the Secretary of State or any government department in carrying into effect the remaining provisions of this Act, other than—

i

F5... Chapter I of Part IV and Part VIII so far as it applies for the purposes of that Chapter, sections F6... 153(2), 158(1) to (5), 162, 163, F5...and 176F5...;

F27ii

sections 31, 33, 117, 154 and 155; and

iii

sections 160 and 166.

F11c

such sums as the Inland Revenue may estimate to be the amount of their administrative expenses in exercising their functions under Part III.

4

The sums payable under subsection (3)(b)—

a

shall be estimated in accordance with any directions given by the Treasury and (except in the case of functions relating to minimum contributions) shall exclude such categories of expenses as the Treasury may direct, or any enactment may require, to be so excluded; and

b

shall be payable at such times and in such manner as the Treasury may direct.

5

There shall be paid into the Consolidated Fund—

a

subject to subsection (6), so far as it relates to payments out of money provided by Parliament, any sum recovered by the Secretary of State F12or the Inland Revenue under or by virtue of the provisions within subsection (3)(b)(ii); F22...

F23b

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6

So far as any such sum relates to a payment out of the National Insurance Fund, it shall be paid into that Fund.

7

There shall also be paid into the National Insurance Fund—

a

sums recovered under section F1541(1E), 42A(2D) or (5) or 43(5) or (6);

F4b

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

c

any sum recovered by the Secretary of State in exercising any right or pursuing any remedy which is his by virtue of section 127; and

d

any sums received by F13the Inland Revenue by way of such payments as are mentioned in paragraph 5(4) of Schedule 2.