DWP news

2024 - 3 - 4

DWP Decides on Levy Increase and Ssas Providers Celebrate Victory

DWP Department for Work and Pensions - DWP - government policies - Jobcentres - Universal Credit

Big changes in the Department for Work and Pensions as levy rates surge while Ssas providers dodge a £10k bullet!

The Department for Work and Pensions (DWP) has made significant decisions following the general levy consultation. Opting out of option 3, the DWP has announced a 6.5% yearly increase in levy rates for all schemes, maintaining the current levy structure. This move aims to strengthen the financial framework for schemes under the DWP's purview.

On the other hand, Ssas schemes can rejoice as the government has scrapped plans to impose a hefty £10,000 levy on them. This decision comes as a relief to Ssas providers who were facing potential financial burdens amidst uncertain economic times.

In a surprising turn of events, the DWP's choice to stick with the existing levy structure highlights a commitment to stability and growth within the pension sector. By opting for gradual rate increments, the DWP aims to balance financial sustainability with scheme affordability, ensuring a secure future for all involved.

Moreover, the victorious outcome for Ssas providers showcases the power of industry advocacy and the positive impact of constructive dialogue between stakeholders and regulatory bodies. This decision not only averts a significant financial blow to Ssas schemes but also signals a collaborative approach towards policy-making within the pension landscape.

Post cover
Image courtesy of "www.professionalpensions.com"

DWP rules out option 3 as it sets out general levy consultation ... (www.professionalpensions.com)

The Department for Work and Pensions (DWP) has published the government's response to the general levy consultation.

Post cover
Image courtesy of "Pensions Age"

DWP to retain general levy structure but increase rates by 6.5% a year (Pensions Age)

The Department for Work and Pensions (DWP) has decided to retain the current general levy structure and increase rates by 6.5 per cent for all schemes.

Post cover
Image courtesy of "FT Adviser"

Ssas providers claim victory as govt opts against £10k levy (FT Adviser)

Ssas schemes have claimed victory after the government decided not to proceed with proposals to charge them a £10000 levy.

Post cover
Image courtesy of "GB News"

Universal Credit claimants in 'terrible poverty' as DWP work rules ... (GB News)

Britons on low income are eligible to claim Universal Credit from the DWP but new work requirements could see payments cut significantly.

Post cover
Image courtesy of "Birmingham Live"

Universal Credit claimants say they're 'trapped' by strict DWP work ... (Birmingham Live)

A recent survey carried out by the Single Parent Rights campaign has warned against the current DWP status quo which requires those on benefits to work for ...

Post cover
Image courtesy of "Birmingham Live"

DWP Universal Credit warning with 42 Jobcentres set to shut - full list (Birmingham Live)

DWP has said that the closure of these additional temporary sites, where they are no longer required, will not reduce its level of service or a claimants' ...

Post cover
Image courtesy of "Mirror.co.uk"

DWP confirms 42 Jobcentres will close in warning for Universal ... (Mirror.co.uk)

The locations that are affected by the DWP announcement are temporary sites or additional spaces in existing sites that were set up during the coronavirus ...

Post cover
Image courtesy of "ChronicleLive"

DWP confirm full list of Jobcentres closing - including one in the ... (ChronicleLive)

Affected locations include temporary sites and additional spaces which were set up during the global Coronavirus pandemic.

Post cover
Image courtesy of "The Sun"

Warning for thousands on Universal Credit as 42 Jobcentres to ... (The Sun)

THOUSANDS of people on Universal Credit will be affected by another 42 Jobcentre closures in the coming months.The Department for Work and Pensions (

Explore the last week