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United Kingdom · Question · Written question

UIN 203192

Pension Protection Fund: Taxation

answeredUnited Kingdom· UK Parliament· EN

Introduced

18 October 2023

Last action

23 October 2023 · Answer

Status

Answered

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Subjects

Taxation

Source updated

23 October 2023

Taxation

Summary

To ask the Chancellor of the Exchequer, whether money a person receives from their pension scheme via the Fraud Compensation Fund is taxable; and if he will make a statement.

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Timeline

  1. 18 October 2023

    Written question

    To ask the Chancellor of the Exchequer, whether money a person receives from their pension scheme via the Fraud Compensation Fund is taxable; and if he will make a statement.

    Source: Commons

  2. 23 October 2023

    Answer

    The Fraud Compensation Fund pays compensation to pension scheme administrators or trustees, who then provide benefits to members. Those benefits will be taxed like any other pension benefits. An individual pays income tax if their total annual income is m...

    Source: Written answer

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