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PMI
13 October 2020

PMI's response to HM Treasury 'Pensions tax relief administration: call for evidence'

Traditionally occupational schemes have used net pay, whereas group schemes have used relief at source. There are some exceptions to this, most notably NEST using Relief at Source. This is in part historical, but was also driven by the tax rules in place at the time.
Multi-employer schemes and providers will offer what their customers demand, balancing out various areas of the proposition including charges, investments, governance, and communications.

PMI is the professional body which supports and develops those who work in the pensions industry. PMI offers a range of qualifications designed to meet the requirements of those who manage workplace pension schemes or who provide professional services to them. Our members (currently some 6,000) include pensions managers, lawyers, actuaries, consultants, administrators and others. Their experience is therefore wide-ranging and has contributed to the thinking expressed in this response. Due to the wide range of professional disciplines represented, our members represent a cross-section of the pensions industry as a whole.

PMI is focused on supporting its members to enable them to perform their jobs to the highest professional standards, and thereby benefit members of retirement benefit arrangements for which they are responsible.

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Last update: 22 October 2020

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