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PensionsDepartment for Work and Pensions (DWP) The DWP is the Government department responsible for welfare reform. It delivers support and advice to people of working age, employers, pensioners, families, children and disabled people. Its website has information and regulatory guidance on pensions. Occupational Pensions Regulatory Authority (OPRA) OPRA was established by the Pensions Act 1995 and supervises a range of legal requirements to protect people’s occupational pensions. OPRA looks into and can take action where there is carelessness or negligence that could put pension schemes at risk. Inland Revenue (IR) - Pension Schemes Office The Inland Revenue is the Government Department responsible for the administration of all UK taxes. The pension schemes section on the IR website gives information about pension funds which may be eligible for valuable tax reliefs. The SIPP Provider Group is the only body set up for providers of self invested personal pension schemes (SIPPS). It is recognised by the Inland Revenue and able to negotiate with them concerning SIPPs. |
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