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Finance Act 2025 receives Royal Assent
The Finance Act 2025, bringing into force measures announced in the October 30, 2024, Budget, has now come into force.
United Kingdom | Publication | March 2023
A second Bill extending the auto-enrolment regime was introduced to the House of Commons on February 27, 2023 (when it had its first reading), and the DWP confirmed its support for the Bill on March 3, 2023, when it had its second reading.
The Bill contains provisions that have a similar effect, implementing two key recommendations made by the 2017 independent review of auto-enrolment:
The regulations would be made following a period of consultation on the implementation approach and timing, which is intended to help to ensure they can be implemented in a suitable way to help manage the increased costs involved for all parties. A precise timeline for the changes has not be confirmed.
The committee stage took place on March 15, 2023, when the Bill's provisions were agreed as drafted. Laura Trott, pensions minister, confirmed that a consultation on the implementation and timetable for the changes should take place in the Autumn. The Committee Stage took place on March 15, 2023, with the remaining Commons’ stages scheduled for March 24, 2023.
Publication
The Finance Act 2025, bringing into force measures announced in the October 30, 2024, Budget, has now come into force.
Publication
In addition to information for scheme administrators, the newsletter includes a reminder that following the abolition of the lifetime allowance from April 2024, applications for fixed protection 2016 and individual protection 2026 must be made by April 5, 2025.
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