The Occupational and Personal Pension Schemes (General Levy) (Amendment) Regulations 2024
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Change 1
2 Amendment of the Occupational and Personal Pension Schemes (General Levy) Regulations 2005
(1) The Schedule to the Occupational and Personal Pension Schemes (General Levy) Regulations 2005 (amount of the general levy) is amended as follows. (2) For paragraph 2 substitute— 2 This table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2024— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £68 12 to 99 | £6.75 multiplied by M | Not applicable 100 to 999 | £4.88 multiplied by M | £669 1,000 to 4,999 | £3.79 multiplied by M | £4,876 5,000 to 9,999 | £2.89 multiplied by M | £18,947 10,000 to 499,999 | £2.01 multiplied by M | £28,898 500,000 or more | £1.52 multiplied by M | £1,004,998. . (3) For paragraph 3 substitute— 3 This table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2025— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £73 12 to 99 | £7.19 multiplied by M | Not applicable 100 to 999 | £5.19 multiplied by M | £712 1,000 to 4,999 | £4.04 multiplied by M | £5,185 5,000 to 9,999 | £3.07 multiplied by M | £20,196 10,000 to 499,999 | £2.14 multiplied by M | £30,697 500,000 or more | £1.62 multiplied by M | £1,069,998. . (4) For paragraph 4 substitute— 4 This table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2026— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £77 12 to 99 | £7.66 multiplied by M | Not applicable 100 to 999 | £5.53 multiplied by M | £759 1,000 to 4,999 | £4.30 multiplied by M | £5,525 5,000 to 9,999 | £3.27 multiplied by M | £21,496 10,000 to 499,999 | £2.28 multiplied by M | £32,697 500,000 or more | £1.73 multiplied by M | £1,139,998. . (5) For paragraph 5 substitute— 5 This table relates to money purchase schemes for the financial year beginning with 1st April 2024— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £47 12 to 99 | £4.60 multiplied by M | Not applicable 100 to 999 | £3.32 multiplied by M | £456 1,000 to 4,999 | £2.59 multiplied by M | £3,317 5,000 to 9,999 | £1.97 multiplied by M | £12,948 10,000 to 499,999 | £1.37 multiplied by M | £19,699 500,000 or more | £1.04 multiplied by M | £684,999. . (6) For paragraph 6 substitute— 6 This table relates to money purchase schemes for the financial year beginning with 1st April 2025— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £50 12 to 99 | £4.90 multiplied by M | Not applicable 100 to 999 | £3.54 multiplied by M | £486 1,000 to 4,999 | £2.76 multiplied by M | £3,537 5,000 to 9,999 | £2.10 multiplied by M | £13,798 10,000 to 499,999 | £1.46 multiplied by M | £20,998 500,000 or more | £1.11 multiplied by M | £729,999. . (7) For paragraph 7 substitute— 7 This table relates to money purchase schemes for the financial year beginning with 1st April 2026— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £53 12 to 99 | £5.22 multiplied by M | Not applicable 100 to 999 | £3.77 multiplied by M | £517 1,000 to 4,999 | £2.94 multiplied by M | £3,767 5,000 to 9,999 | £2.23 multiplied by M | £14,698 10,000 to 499,999 | £1.56 multiplied by M | £22,298 500,000 or more | £1.18 multiplied by M | £779,999. . (8) For paragraph 8 substitute— 8 This table relates to Master Trust schemes for the financial year beginning with 1st April 2024— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £34 12 to 99 | £3.34 multiplied by M | Not applicable 100 to 999 | £2.42 multiplied by M | £331 1,000 to 4,999 | £1.89 multiplied by M | £2,418 5,000 to 9,999 | £1.43 multiplied by M | £9,449 10,000 to 499,999 | £1.00 multiplied by M | £14,299 500,000 or more | £0.76 multiplied by M | £499,999. . (9) For paragraph 9 substitute— 9 This table relates to Master Trust schemes for the financial year beginning with 1st April 2025— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £36 12 to 99 | £3.56 multiplied by M | Not applicable 100 to 999 | £2.57 multiplied by M | £353 1,000 to 4,999 | £2.01 multiplied by M | £2,568 5,000 to 9,999 | £1.52 multiplied by M | £10,048 10,000 to 499,999 | £1.07 multiplied by M | £15,199 500,000 or more | £0.81 multiplied by M | £534,999. . (10) For paragraph 10 substitute— 10 This table relates to Master Trust schemes for the financial year beginning with 1st April 2026— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £39 12 to 99 | £3.79 multiplied by M | Not applicable 100 to 999 | £2.74 multiplied by M | £376 1,000 to 4,999 | £2.14 multiplied by M | £2,738 5,000 to 9,999 | £1.62 multiplied by M | £10,698 10,000 to 499,999 | £1.14 multiplied by M | £16,199 500,000 or more | £0.86 multiplied by M | £569,999. . (11) For paragraph 11 substitute— 11 This table relates to the financial year beginning with 1st April 2024— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £15 12 to 99 | £1.33 multiplied by M | Not applicable 100 to 999 | £0.94 multiplied by M | £132 1,000 to 4,999 | £0.80 multiplied by M | £940 5,000 to 9,999 | £0.53 multiplied by M | £4,000 10,000 to 499,999 | £0.40 multiplied by M | £5,300 500,000 or more | £0.30 multiplied by M | £200,000. . (12) For paragraph 12 substitute— 12 This table relates to the financial year beginning with 1st April 2025— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £16 12 to 99 | £1.42 multiplied by M | Not applicable 100 to 999 | £1.00 multiplied by M | £141 1,000 to 4,999 | £0.85 multiplied by M | £999 5,000 to 9,999 | £0.57 multiplied by M | £4,250 10,000 to 499,999 | £0.43 multiplied by M | £5,700 500,000 or more | £0.32 multiplied by M | £215,000. . (13) For paragraph 13 substitute— 13 This table relates to the financial year beginning with 1st April 2026— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £17 12 to 99 | £1.51 multiplied by M | Not applicable 100 to 999 | £1.06 multiplied by M | £150 1,000 to 4,999 | £0.91 multiplied by M | £1,059 5,000 to 9,999 | £0.60 multiplied by M | £4,550 10,000 to 499,999 | £0.46 multiplied by M | £6,000 500,000 or more | £0.34 multiplied by M | £230,000. .
2 Amendment of the Occupational and Personal Pension Schemes (General Levy) Regulations 2005
(1) The Schedule to the Occupational and Personal Pension Schemes (General Levy) Regulations 2005 (amount of the general levy) is amended as follows. (2) For paragraph 2 substitute— 2 This table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2024— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £68 12 to 99 | £6.75 multiplied by M | Not applicable 100 to 999 | £4.88 multiplied by M | £669 1,000 to 4,999 | £3.79 multiplied by M | £4,876 5,000 to 9,999 | £2.89 multiplied by M | £18,947 10,000 to 499,999 | £2.01 multiplied by M | £28,898 500,000 or more | £1.52 multiplied by M | £1,004,998. . (3) For paragraph 3 substitute— 3 This table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2025— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £73 12 to 99 | £7.19 multiplied by M | Not applicable 100 to 999 | £5.19 multiplied by M | £712 1,000 to 4,999 | £4.04 multiplied by M | £5,185 5,000 to 9,999 | £3.07 multiplied by M | £20,196 10,000 to 499,999 | £2.14 multiplied by M | £30,697 500,000 or more | £1.62 multiplied by M | £1,069,998. . (4) For paragraph 4 substitute— 4 This table relates to defined benefits schemes and hybrid schemes for the financial year beginning with 1st April 2026— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £77 12 to 99 | £7.66 multiplied by M | Not applicable 100 to 999 | £5.53 multiplied by M | £759 1,000 to 4,999 | £4.30 multiplied by M | £5,525 5,000 to 9,999 | £3.27 multiplied by M | £21,496 10,000 to 499,999 | £2.28 multiplied by M | £32,697 500,000 or more | £1.73 multiplied by M | £1,139,998. . (5) For paragraph 5 substitute— 5 This table relates to money purchase schemes for the financial year beginning with 1st April 2024— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £47 12 to 99 | £4.60 multiplied by M | Not applicable 100 to 999 | £3.32 multiplied by M | £456 1,000 to 4,999 | £2.59 multiplied by M | £3,317 5,000 to 9,999 | £1.97 multiplied by M | £12,948 10,000 to 499,999 | £1.37 multiplied by M | £19,699 500,000 or more | £1.04 multiplied by M | £684,999. . (6) For paragraph 6 substitute— 6 This table relates to money purchase schemes for the financial year beginning with 1st April 2025— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £50 12 to 99 | £4.90 multiplied by M | Not applicable 100 to 999 | £3.54 multiplied by M | £486 1,000 to 4,999 | £2.76 multiplied by M | £3,537 5,000 to 9,999 | £2.10 multiplied by M | £13,798 10,000 to 499,999 | £1.46 multiplied by M | £20,998 500,000 or more | £1.11 multiplied by M | £729,999. . (7) For paragraph 7 substitute— 7 This table relates to money purchase schemes for the financial year beginning with 1st April 2026— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £53 12 to 99 | £5.22 multiplied by M | Not applicable 100 to 999 | £3.77 multiplied by M | £517 1,000 to 4,999 | £2.94 multiplied by M | £3,767 5,000 to 9,999 | £2.23 multiplied by M | £14,698 10,000 to 499,999 | £1.56 multiplied by M | £22,298 500,000 or more | £1.18 multiplied by M | £779,999. . (8) For paragraph 8 substitute— 8 This table relates to Master Trust schemes for the financial year beginning with 1st April 2024— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £34 12 to 99 | £3.34 multiplied by M | Not applicable 100 to 999 | £2.42 multiplied by M | £331 1,000 to 4,999 | £1.89 multiplied by M | £2,418 5,000 to 9,999 | £1.43 multiplied by M | £9,449 10,000 to 499,999 | £1.00 multiplied by M | £14,299 500,000 or more | £0.76 multiplied by M | £499,999. . (9) For paragraph 9 substitute— 9 This table relates to Master Trust schemes for the financial year beginning with 1st April 2025— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £36 12 to 99 | £3.56 multiplied by M | Not applicable 100 to 999 | £2.57 multiplied by M | £353 1,000 to 4,999 | £2.01 multiplied by M | £2,568 5,000 to 9,999 | £1.52 multiplied by M | £10,048 10,000 to 499,999 | £1.07 multiplied by M | £15,199 500,000 or more | £0.81 multiplied by M | £534,999. . (10) For paragraph 10 substitute— 10 This table relates to Master Trust schemes for the financial year beginning with 1st April 2026— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £39 12 to 99 | £3.79 multiplied by M | Not applicable 100 to 999 | £2.74 multiplied by M | £376 1,000 to 4,999 | £2.14 multiplied by M | £2,738 5,000 to 9,999 | £1.62 multiplied by M | £10,698 10,000 to 499,999 | £1.14 multiplied by M | £16,199 500,000 or more | £0.86 multiplied by M | £569,999. . (11) For paragraph 11 substitute— 11 This table relates to the financial year beginning with 1st April 2024— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £15 12 to 99 | £1.33 multiplied by M | Not applicable 100 to 999 | £0.94 multiplied by M | £132 1,000 to 4,999 | £0.80 multiplied by M | £940 5,000 to 9,999 | £0.53 multiplied by M | £4,000 10,000 to 499,999 | £0.40 multiplied by M | £5,300 500,000 or more | £0.30 multiplied by M | £200,000. . (12) For paragraph 12 substitute— 12 This table relates to the financial year beginning with 1st April 2025— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £16 12 to 99 | £1.42 multiplied by M | Not applicable 100 to 999 | £1.00 multiplied by M | £141 1,000 to 4,999 | £0.85 multiplied by M | £999 5,000 to 9,999 | £0.57 multiplied by M | £4,250 10,000 to 499,999 | £0.43 multiplied by M | £5,700 500,000 or more | £0.32 multiplied by M | £215,000. . (13) For paragraph 13 substitute— 13 This table relates to the financial year beginning with 1st April 2026— Number of members on the reference day | Amount of levy calculated by reference to the number of members (M) | Minimum amount of levy 2 to 11 | £17 12 to 99 | £1.51 multiplied by M | Not applicable 100 to 999 | £1.06 multiplied by M | £150 1,000 to 4,999 | £0.91 multiplied by M | £1,059 5,000 to 9,999 | £0.60 multiplied by M | £4,550 10,000 to 499,999 | £0.46 multiplied by M | £6,000 500,000 or more | £0.34 multiplied by M | £230,000. .
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