Pension Schemes Act 2021: explained | Moorepay

Payroll Legislation

Pension Schemes Act 2021: explained


Pension Schemes Act 2021: explained


Announced February 2021


The Pension Schemes Act will:

  • Strengthen protections for savers by extending the powers of the Pensions Regulator.
  • Tighten the rules required for transfers, to protect savers from scams.
  • Deter bosses from running pension schemes into the ground or lining their own pockets – they’ll face a maximum penalty of seven years in prison!
  • Bring pensions into the digital age with the introduction of pension dashboards – one single platform for users to easily access and review pension pots.
  • Further the government’s progress towards net zero greenhouse gas emissions.

The Bill – now an Act – reached Royal Assent on 11 February 2021.

payroll legislation guide

Payroll Legislation Guide

Do you know the dates of all the complex payroll legislation changes? Are you aware of what you need to do to ensure your business is compliant? Many UK businesses aren’t aware…