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Pensions Act 2011

Section 35: Grants by the Secretary of State to advisory bodies etc

172.Section 35 amends section 174 of the PSA 1993 to enable the Secretary of State to make grants to pensions advisory bodies or those undertaking such other functions in relation to pensions as may be specified in regulations. As these grants will be made under section 174 the expenditure can be recouped under the general levy which is imposed on occupational and personal pension schemes under section 175 of the PSA 1993 and is collected by the Pensions Regulator on behalf of the Secretary of State.

173.The section will enable the Secretary of State to make grant-in-aid payments directly to The Pensions Advisory Service. These payments are currently made by the Pensions Regulator.

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