UK:
Statutory Instrument Reducing Authorised Surplus Payments Charge Laid Before Parliament
02 April 2024
Norton Rose Fulbright Hong Kong
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The Authorised Surplus Payments Charge (Variation of Rate) Order
2024 was laid before Parliament on March 11, 2024, and will amend
the authorised surplus payments charge rate from 35 per cent to 25
per cent with effect from April 6, 2024.
The 2023 Autumn Statement also included wider proposals
concerning the distribution of DB surpluses and the establishment
of a public DB scheme consolidator, following which a consultation
paper on Options for DB Schemes was published in
February 2024.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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