DC schemes Flashcards
1
Q
What type of pension arrangement is most likely to have GARs?
A
Retirement Annuity Contract
2
Q
What is the charge cap for occupational DC schemes?
A
0.75% of member’s fund value
3
Q
What is the role of the Independent Governance Committee?
A
To oversee contract-based workplace schemes
4
Q
Who is the main regulator of a SSAS?
A
TPR
5
Q
What is the limit for sponsoring employer’s shares to be held in a SSAS?
A
5% of scheme assets or 20% of scheme assets if more than one sponsoring employer
6
Q
How are a member’s refund of contributions taxed?
A
20% on first £20k and 50% on any excess thereafter
