The Department for Work and Pensions has announced that there will be no change to the rate of General Levy paid by
occupational and personal pension schemes for 2004/05.

The levy is used to pay for the costs of the Occupational Pensions Regulatory Authority (OPRA), the Pensions Ombudsman, the Pensions Advisory Service and the Pensions Scheme Registry.

Pensions Minister Malcolm Wick explained: ‘I am pleased to announce that there will be no increase in the General Levy rates for 2004/05. They will remain at the 2000/01 levels set out in the table.’