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HMRC Tax Regime: Contributions, Allowances, and Dividends

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HMRC Tax Regime: Contributions, Allowances, and Dividends

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Questions and Answers

Who can investigate complaints with the Pension Ombudsman?

Only current members of a pension scheme

Anyone with a financial concern

Current or former members of a pension scheme, and their dependants (correct)

Only financial advisors and pension experts

What is the main goal of the Money and Pensions Service?

To regulate pension schemes

To invest in pension funds

To provide financial advice to pensioners

To make guidance and information available to help people make effective financial decisions (correct)

What type of pension schemes does the Pension Protection Fund (PPF) protect?

Only defined contribution schemes

Defined contribution and hybrid schemes

Defined benefit and hybrid schemes (correct)

Only hybrid schemes

How is the Pension Protection Fund (PPF) funded?

Through three levies: an administration levy, a fraud compensation levy, and a pension protection levy Signup and view all the answers

What happens when the PPF assumes responsibility for a scheme?

The PPF takes over the scheme's remaining assets and uses them to help fund compensation Signup and view all the answers

What is the purpose of Pension Wise?

To provide guidance on pensions Signup and view all the answers

Who can nominate someone to take a complaint to the Pensions Ombudsman?

A pension scheme member or their estate Signup and view all the answers

What is the role of MoneyHelper?

To make guidance and information available to help people make effective financial decisions Signup and view all the answers

What type of service is MoneyHelper?

A free service Signup and view all the answers

Who runs the Pension Protection Fund (PPF)?

The PPF Board Signup and view all the answers