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Ssas may fall foul of law

Mazars Neville Russell has highlighted a loophole which could lead to executive pension scheme trustees unwittingly falling foul of the law.


The consultancy points out there is an opt-out clause which exempts some small-self administered schemes from appointing auditors and producing audited financial statements within a set time.


But the Occupational Pensions Regulatory Authority says the exemption only applies to member and pensioner trustees and there is no allowance for non-member trustees – who could unwittingly be breaking the law.


Mazars Neville Russell pensions specialist Phillip Callow says: “Because of the failure of many schemes to comply with the regulations, advisers have to &#39blow the whistle&#39 and report these breaches to Opra by law.”

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