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990126
star this property registered interest false more like this
star this property date less than 2018-10-17more like thismore than 2018-10-17
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Occupational Pensions: Tax Allowances more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government how many pension master trusts operate on a net pay system; and how many master trusts use a relief at source administration system. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10748 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-10-31more like thismore than 2018-10-31
star this property answer text <p>The Government does not hold complete data on whether a master trust pension scheme operates net pay or relief at source.</p><p> </p><p>Pension schemes are not required to tell HMRC if they use the net pay arrangement. They do have to register with HMRC to use relief at source.</p><p> </p><p>Pension schemes have only been required to declare whether they are a master trust during tax registration since April 2018. Schemes that were already registered at that date have not been required to inform Her Majesty’s Revenue &amp; Customs that they are a master trust. They are required to inform HMRC if they become or cease to be a master trust.</p><p> </p><p>The tax relief provided under net pay reflects an individual’s marginal rate of tax. Under relief at source, all savers receive a flat rate of 25%, equivalent to the basic rate of tax, regardless of their marginal rate of tax. This means that lower earners in relief at source schemes may receive extra tax relief. Higher and additional rate taxpayers can claim any further relief to which they are entitled from HMRC. This was designed to simplify the administration of personal pensions.</p><p>The government recognises the different impacts of the two systems of paying pension tax relief on pension contributions for workers earning below the personal allowance. To date, it has not been possible to identify any straightforward or proportionate means to align the effects of the net pay and relief at source mechanisms more closely for this population.</p><p> </p><p>However, the government’s ambition for HMRC to become one of the most digitally advanced tax administrations in the world may present opportunities to look afresh at the two systems of paying pension tax relief, to explore the current difference in treatment, and ensure that we can make the most of any new opportunities, balancing simplicity, fairness, and practicality.</p><p> </p><p> </p>
unstar this property answering member printed Lord Bates more like this
star this property grouped question UIN HL10749 more like this
star this property question first answered
less than 2018-10-31T17:17:18.527Zmore like thismore than 2018-10-31T17:17:18.527Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990127
star this property registered interest false more like this
star this property date less than 2018-10-17more like thismore than 2018-10-17
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Occupational Pensions: Tax Allowances more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans they have to ensure that non-taxpayers who are automatically enrolled in a net pay workplace pension scheme can receive the 25 per cent bonus that they would receive in a relief at source scheme. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10749 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-10-31more like thismore than 2018-10-31
star this property answer text <p>The Government does not hold complete data on whether a master trust pension scheme operates net pay or relief at source.</p><p> </p><p>Pension schemes are not required to tell HMRC if they use the net pay arrangement. They do have to register with HMRC to use relief at source.</p><p> </p><p>Pension schemes have only been required to declare whether they are a master trust during tax registration since April 2018. Schemes that were already registered at that date have not been required to inform Her Majesty’s Revenue &amp; Customs that they are a master trust. They are required to inform HMRC if they become or cease to be a master trust.</p><p> </p><p>The tax relief provided under net pay reflects an individual’s marginal rate of tax. Under relief at source, all savers receive a flat rate of 25%, equivalent to the basic rate of tax, regardless of their marginal rate of tax. This means that lower earners in relief at source schemes may receive extra tax relief. Higher and additional rate taxpayers can claim any further relief to which they are entitled from HMRC. This was designed to simplify the administration of personal pensions.</p><p>The government recognises the different impacts of the two systems of paying pension tax relief on pension contributions for workers earning below the personal allowance. To date, it has not been possible to identify any straightforward or proportionate means to align the effects of the net pay and relief at source mechanisms more closely for this population.</p><p> </p><p>However, the government’s ambition for HMRC to become one of the most digitally advanced tax administrations in the world may present opportunities to look afresh at the two systems of paying pension tax relief, to explore the current difference in treatment, and ensure that we can make the most of any new opportunities, balancing simplicity, fairness, and practicality.</p><p> </p><p> </p>
unstar this property answering member printed Lord Bates more like this
star this property grouped question UIN HL10748 more like this
star this property question first answered
less than 2018-10-31T17:17:18.577Zmore like thismore than 2018-10-31T17:17:18.577Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990128
star this property registered interest false more like this
star this property date less than 2018-10-17more like thismore than 2018-10-17
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Occupational Pensions: Tax Allowances more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what estimates they have made of the (1) number, and (2) gender breakdown, of workers earning below the personal tax threshold who have been automatically enrolled into a net pay workplace pension scheme. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10750 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-10-31more like thismore than 2018-10-31
star this property answer text <p>Automatic enrolment has reversed the decline in workplace pension saving. Latest figures show that more than 9.9 million people have been automatically enrolled; with participation amongst eligible women in the private sector increasing, from 40 per cent in 2012 to 80 per cent in 2017, to equal the rate for men. By 2019/20 an extra £20 billion a year is estimated to go into workplace pensions as a result of these reforms.</p><p> </p><p>Automatic enrolment requires the sponsoring employer to put in place a qualifying workplace pension scheme for their affected workers. The Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This guidance covers the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.</p><p> </p><p>Government does not collect data about whether net pay arrangements or relief at source pension schemes are used by employers to comply with their automatic enrolment duties.</p><p> </p>
unstar this property answering member printed Baroness Buscombe more like this
star this property question first answered
less than 2018-10-31T16:30:26.993Zmore like thismore than 2018-10-31T16:30:26.993Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990129
star this property registered interest false more like this
star this property date less than 2018-10-17more like thismore than 2018-10-17
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Occupational Pensions more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to check the accuracy of contributions being paid into pension schemes under automatic enrolment. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10751 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-10-31more like thismore than 2018-10-31
star this property answer text <p>Automatic enrolment has been a great success, with over 9.9 million employees enrolled and more than 1.3 million employers having met their duties to date. Government has put in place a robust, proportionate compliance framework. This is administered by The Pensions Regulator, and includes detailed regulatory guidance about how to comply with the law. An employer is required to select a qualifying pension scheme; enrol qualifying staff into that scheme, and deduct any contributions payable under automatic enrolment.</p><p> </p><p>Qualifying pension schemes for automatic enrolment are subject to the same regulatory framework as all trust-based workplace pension schemes, also overseen by The Pensions Regulator. The Regulator has published codes of practice on its website setting out how trustees of defined contribution pension schemes and managers of personal pension schemes should monitor the payment of contributions; provide information to help members check their contributions; and report material payment failures to the Regulator.</p>
unstar this property answering member printed Baroness Buscombe more like this
star this property question first answered
less than 2018-10-31T17:03:56.067Zmore like thismore than 2018-10-31T17:03:56.067Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990130
star this property registered interest false more like this
star this property date less than 2018-10-17more like thismore than 2018-10-17
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Occupational Pensions more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to ensure that a proper audit of the accuracy of a master trust's pension contribution records has taken place before it is permitted to exit the market or merge with another trust. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10752 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-10-31more like thismore than 2018-10-31
star this property answer text <p>Trustees are required to act in accordance with their fiduciary duties to the beneficiaries of the scheme, as well as legislative requirements. This includes running and managing the scheme, and ensuring the accuracy of the scheme’s contribution records.</p><p> </p><p>The Pension Schemes Act 2017 introduced a requirement for Master Trust schemes to notify the Pensions Regulator if they intend to exit the market prior to the introduction of the new authorisation and supervisory regime from October 2018 and for the Regulator to have close oversight of the process.</p><p> </p><p>The new authorisation and supervisory regime for Master Trusts requires that Master Trusts demonstrate to the Pensions Regulator that they have effective systems and processes. This includes whether the scheme can process transactions, including contributions, automatically and securely and whether it has the capability to carry out data reconciliations against transactions.</p><p> </p><p>Master Trusts must be able to quickly identify missing contributions and have a process in place to rectify any issues. The Regulator has a separate Code of Practice on the payment of contributions and can take action where contributions are not invested.</p><p> </p><p>Where a Master Trust exits the market the trustees must submit a detailed implementation strategy to the Regulator for approval. This includes details of how scheme pension contributions will be handled. Trustees are required to comply with the implementation strategy to the satisfaction of the Regulator.</p><p><strong> </strong></p><p> </p>
unstar this property answering member printed Baroness Buscombe more like this
star this property question first answered
less than 2018-10-31T15:13:30.087Zmore like thismore than 2018-10-31T15:13:30.087Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990459
star this property registered interest false more like this
star this property date less than 2018-10-18more like thismore than 2018-10-18
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Occupational Pensions: Tax Allowances more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to ensure that the Pensions Regulator will require trustees of net pay pension schemes to make provision for low earners to save in a relief at source scheme and do not enrol workers who would have to pay 25 per cent extra for their pensions. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10792 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-11-01more like thismore than 2018-11-01
star this property answer text <p>Automatic enrolment is a great success story with more than 9.9 million workers enrolled into workplace pension saving and over 1.3 million employers meeting their duties to date.</p><p> </p><p>Under automatic enrolment the employer is responsible for putting in place a qualifying workplace pension scheme for their eligible workers. Employers have a choice, in the marketplace, of a number qualifying workplace pension schemes that can be used to fulfil their automatic enrolment duties; including the National Employment Savings Trust (NEST). NEST has no set-up costs, and a public service obligation to accept any employer who meets their scheme’s terms and conditions.</p><p> </p><p>The Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This provides information about the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.</p>
unstar this property answering member printed Baroness Buscombe more like this
star this property grouped question UIN
HL10793 more like this
HL10794 more like this
HL10795 more like this
star this property question first answered
less than 2018-11-01T13:23:08.807Zmore like thismore than 2018-11-01T13:23:08.807Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990460
star this property registered interest false more like this
star this property date less than 2018-10-18more like thismore than 2018-10-18
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Occupational Pensions: Tax Allowances more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government on what grounds they opted to automatically enrol low earners into a net pay pension scheme which forces them to pay 25 per cent more for their pension than they would do in a relief at source scheme. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10793 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-11-01more like thismore than 2018-11-01
star this property answer text <p>Automatic enrolment is a great success story with more than 9.9 million workers enrolled into workplace pension saving and over 1.3 million employers meeting their duties to date.</p><p> </p><p>Under automatic enrolment the employer is responsible for putting in place a qualifying workplace pension scheme for their eligible workers. Employers have a choice, in the marketplace, of a number qualifying workplace pension schemes that can be used to fulfil their automatic enrolment duties; including the National Employment Savings Trust (NEST). NEST has no set-up costs, and a public service obligation to accept any employer who meets their scheme’s terms and conditions.</p><p> </p><p>The Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This provides information about the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.</p>
unstar this property answering member printed Baroness Buscombe more like this
star this property grouped question UIN
HL10792 more like this
HL10794 more like this
HL10795 more like this
star this property question first answered
less than 2018-11-01T13:23:08.87Zmore like thismore than 2018-11-01T13:23:08.87Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990461
star this property registered interest false more like this
star this property date less than 2018-10-18more like thismore than 2018-10-18
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Occupational Pensions: Tax Allowances more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to protect low earners from losing out on tax relief in automatic pension enrolment. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10794 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-11-01more like thismore than 2018-11-01
star this property answer text <p>Automatic enrolment is a great success story with more than 9.9 million workers enrolled into workplace pension saving and over 1.3 million employers meeting their duties to date.</p><p> </p><p>Under automatic enrolment the employer is responsible for putting in place a qualifying workplace pension scheme for their eligible workers. Employers have a choice, in the marketplace, of a number qualifying workplace pension schemes that can be used to fulfil their automatic enrolment duties; including the National Employment Savings Trust (NEST). NEST has no set-up costs, and a public service obligation to accept any employer who meets their scheme’s terms and conditions.</p><p> </p><p>The Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This provides information about the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.</p>
unstar this property answering member printed Baroness Buscombe more like this
star this property grouped question UIN
HL10792 more like this
HL10793 more like this
HL10795 more like this
star this property question first answered
less than 2018-11-01T13:23:08.9Zmore like thismore than 2018-11-01T13:23:08.9Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990462
star this property registered interest false more like this
star this property date less than 2018-10-18more like thismore than 2018-10-18
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Occupational Pensions: Tax Allowances more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government who is responsible for ensuring that employers do not use net pay pension schemes for staff who earn below the personal tax thresholds. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10795 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-11-01more like thismore than 2018-11-01
star this property answer text <p>Automatic enrolment is a great success story with more than 9.9 million workers enrolled into workplace pension saving and over 1.3 million employers meeting their duties to date.</p><p> </p><p>Under automatic enrolment the employer is responsible for putting in place a qualifying workplace pension scheme for their eligible workers. Employers have a choice, in the marketplace, of a number qualifying workplace pension schemes that can be used to fulfil their automatic enrolment duties; including the National Employment Savings Trust (NEST). NEST has no set-up costs, and a public service obligation to accept any employer who meets their scheme’s terms and conditions.</p><p> </p><p>The Pensions Regulator provides guidance to employers on choosing a pension scheme for their staff in order to discharge their statutory obligations under automatic enrolment. This provides information about the choice between net pay and relief at source schemes, and the implications of net pay schemes for employees who do not pay tax.</p>
unstar this property answering member printed Baroness Buscombe more like this
star this property grouped question UIN
HL10792 more like this
HL10793 more like this
HL10794 more like this
star this property question first answered
less than 2018-11-01T13:23:08.947Zmore like thismore than 2018-11-01T13:23:08.947Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this
990463
star this property registered interest false more like this
star this property date less than 2018-10-18more like thismore than 2018-10-18
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Occupational Pensions more like this
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they require employers and pension providers to report on errors in contributions paid; what penalties can be imposed if the wrong contributions are paid for workers in automatic enrolment; and what measures they plan to take to monitor the accuracy of pension contributions. more like this
star this property tabling member printed
Baroness Altmann remove filter
star this property uin HL10796 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2018-10-31more like thismore than 2018-10-31
star this property answer text <p>Automatic enrolment has been a great success, with over 9.9million employees enrolled and more than 1.3 million employers having met their duties to date. Government has put in place a robust, proportionate compliance framework. This is administered by The Pensions Regulator, and includes detailed regulatory guidance about how to comply with the law. An employer is required to select a qualifying pension scheme; enrol qualifying staff into that scheme, and deduct any contributions payable under automatic enrolment.</p><p>Employers are also required to pay those contributions across to their chosen pension provider by a set deadline. Although the deadlines for contribution payments vary, depending on the type of scheme being used, there is an overall legal deadline of the twenty-second day of the following month; which aligns with the HMRC deadline for paying tax and National Insurance.</p><p>With the introduction of the employer duties in 2012, there is a legal requirement on employers, trustees, managers and providers to keep certain records including the contributions payable in each relevant pay reference period by an employer to the scheme, and the amount payable. This includes contributions due on the employer’s behalf and deductions made from earnings.</p><p>The records an employer must keep will enable them to prove that they have complied with their duties and to help check or reconcile contributions made to the pension scheme.</p><p>Qualifying pension schemes for automatic enrolment are subject to the same regulatory framework as all trust-based workplace pension schemes, also overseen by The Pensions Regulator. The Regulator has published codes of practice on its website setting out how trustees of defined contribution pension schemes and managers of personal pension schemes should monitor the payment of contributions; provide information to help members check their contributions; and report material payment failures to the Regulator.</p>
unstar this property answering member printed Baroness Buscombe more like this
star this property question first answered
less than 2018-10-31T15:15:29.897Zmore like thismore than 2018-10-31T15:15:29.897Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
4533
star this property label Biography information for Baroness Altmann more like this