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Life offices find errors in DSS stakeholder guide

Life office experts claim the DSS&#39s recently published stakeholder guide for employers contains inaccuracies.

The claim is provoking fears the Government is misinforming employers as they struggle to cope with the changes demanded by stakeholder.

On page five of the leaflet, the penultimate paragraph of the exemptions section states one of the exemptions to the employee stakeholder access requirements is “any employee…who cannot join a stakeholder pension scheme because of Inland Revenue restrictions, for example, the employee does not normally live in the UK”.

This goes against a gen-eral requirement in the Wel-fare Reform and Pensions Act which states the employee access requirements apply to all employees, including those resident outside the UK.

Life offices say, where the exemptions apply, the Inland Revenue restrictions override the Pensions Act requirement. But they do not apply if the overseas employee was a resident in the UK at any time in the current tax year.

A life office source says: “The mistakes themselves are relatively minor but they indicate how badly thought out the DSS information might be.”

DSS spokesman John Fennessy says: “There is a balance between how much you can put into this guide and how much employers need to ask for more for information on.”


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