Pension schemes newsletter 145

HMRC’s November newsletter covers the recent public service pensions remedy newsletter (which explains the potential tax implications where reinstatement of pension benefits is made under the scheme – see also the consultation on the draft Public Services Pension Schemes (Rectification of Unlawful Discrimination) (Tax) Regulations 2023).

The newsletter also asks scheme administrators to remind members who have exceeded their annual allowance for 2021/22 (and who do not have sufficient unused annual allowance from previous years to carry forward) to declare this in their tax returns (boxes 10 and 11 in the ‘Other information’ section on the Supplementary Pages SA101).