The Public Service Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2023

1. Introductory Text

2. PART 1 Introductory

   1. 1. Citation, commencement and effect

   2. 2. Interpretation

3. PART 2 Modifications of Part 4 of the Finance Act 2004

   1. CHAPTER 1 Contributions

      1. 3. Tax relief on pension contributions paid to Chapter 1 new scheme unaffected

   2. CHAPTER 2 Annual allowance

      1. 4. Adjusted income and threshold income calculated on basis of legacy scheme contributions

      2. 5. Provision of information by scheme administrators to the Commissioners

      3. 6. Annual provision of information by scheme administrator to member

      4. 7. Provision of information by scheme administrator to member on request

      5. 8. Chapter 1 schemes and judicial 2015 schemes: operation of scheme pays for remedy years

      6. 9. Chapter 1 schemes: operation of scheme pays for 2022-23

      7. 10. Chapter 1 schemes: scheme pays treated as operated by legacy schemes

      8. 11. Chapter 1 schemes: administrative provisions relating to scheme pays

      9. 12. Chapter 1 legacy schemes: effect of new scheme benefits election in first pension input period

      10. 13. Chapter 1 legacy schemes: effect of new scheme benefits election in later pension input periods

      11. 14. Local government new schemes: final salary uplifts ignored in calculating pension input amount

      12. 15. Judicial schemes and local government schemes: administrative provisions relating to scheme pays

   3. CHAPTER 3 Benefits

      1. 16. Protected pension age in Chapter 1 legacy scheme unaffected by new scheme benefits election

      2. 17. Protected pension age in Chapter 1 new scheme unaffected by roll-back

      3. 18. Pension commencement lump sum: additional lump sum paid to member

      4. 19. Trivial commutation lump sum: lump sum already paid

      5. 20. Trivial commutation lump sum: additional lump sum paid to member

      6. 21. Serious ill-health lump sum already paid: status unaffected

      7. 22. Serious ill-health lump sum: additional lump sum paid to member

      8. 23. Scheme pension: additional scheme pension paid in respect of deceased member

      9. 24. Pension commencement lump sum: additional lump sum paid for deceased member

      10. 25. Trivial commutation lump sum: additional lump sum paid for deceased member

      11. 26. Serious ill-health lump sum: additional lump sum paid for deceased member

      12. 27. Recovery of underpaid lifetime allowance charge by reduction of scheme pension

      13. 28. Scheme pension already paid: status of overpaid amount unaffected

      14. 29. Pension commencement lump sum already paid: status of overpaid amount unaffected

      15. 30. Pension commencement lump sum already paid: repayment of overpaid amount

      16. 31. Top-up defined benefits lump sum death benefit treated in same way as original payment

   4. CHAPTER 4 Lifetime allowance charge

      1. 32. Charges paid by Chapter 1 new schemes treated as paid by Chapter 1 legacy schemes

      2. 33. Reporting and payment by public service scheme of charges affected by rectification

      3. 34. Application required by schemes to reclaim overpayment resulting from rectification

      4. 35. Public service schemes not permitted to apply for discharge of increased charge

      5. 36. Public service scheme to be liable where private sector scheme discharged

   5. CHAPTER 5 Individual protection 2016

      1. 37. Election for new scheme benefits under Chapter 1 scheme taken into account

      2. 38. Final salary benefits under local government new scheme taken into account

      3. 39. Deadline for provision of information by schemes disapplied

   6. CHAPTER 6 Fixed protection 2016

      1. 40. Increase in rights as a result of new scheme benefits election ignored

      2. 41. Final salary uplift under local government scheme ignored

      3. 42. Transfers from PPA in accordance with PSPJOA 2022 ignored

   7. CHAPTER 7 Transfers

      1. 43. Transfers from PPA in accordance with PSPJOA 2022 treated as recognised transfers

4. PART 3 Modifications of Schedule 15 to FA 2020

   1. 44. Tax relief for compensation payments

5. Signature

6. Explanatory Note