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Pensions

Treasury written question – answered on 10th July 2013.

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Photo of Henry Bellingham Henry Bellingham Conservative, North West Norfolk

To ask the Chancellor of the Exchequer against how many pension liberation schemes HM Revenue and Customs has taken punitive action to date.

Photo of David Gauke David Gauke The Exchequer Secretary

Because of the way in which records are maintained it is not possible to differentiate between the number of schemes Her Majesty's Revenue and Customs (HMRC) has taken enforcement action against in connection with liberation, as opposed to other activities for which compliance action is also appropriate.

HMRC has a strong compliance regime to detect and pursue those who deliberately bend or break the rules by offering schemes to access pension savings other than as intended by Parliament. HMRC is part of a cross-government task force set up to counter liberation activity, called “Project Bloom”.

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