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Social Security Act 1990

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This is the original version (as it was originally enacted).

12After section 60 of the Pensions Act there shall be inserted the following section—

“60ZALevies towards meeting certain expenditure under this Act

(1)For the purpose of meeting some or all of the expenditure under section 57B, Part IVA, and section 59K of this Act, regulations may make provision for imposing a levy in respect of such occupational or personal pension schemes as may be prescribed.

(2)Any levy imposed under this section shall be payable to the Secretary of State by or on behalf of—

(a)the administrators of such public service pension schemes as may be prescribed,

(b)the trustees or managers of such other occupational or personal pension schemes as may be prescribed, or

(c)such other persons as may be prescribed,

at such rates and at such times as may be prescribed.

(3)The amount payable by any person on account of the levy shall be a debt due from him to the Secretary of State and shall be recoverable accordingly.

(4)Regulations under this section may include provision relating to the collection and recovery of amounts payable by way of levy under this section, but this subsection is without prejudice to the generality of subsection (1) above.”

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