delete The Personal Pension Schemes (Concurrent Membership) Order 2000
This Order implements section 632B of the Income and Corporation Taxes Act 1988, governing concurrent membership of personal pension schemes. It defines 'remuneration' calculation rules for contribution limits, establishes certificate requirements for scheme administrators to verify eligibility, and specifies 'qualifying year' and 'certificated years' definitions for determining when individuals can make personal pension contributions while being members of other pension arrangements.
This regulation restricts individual freedom in retirement planning through earnings thresholds, contribution limits, and restrictive 'controlling director' provisions that prevent certain individuals from accessing personal pension arrangements. The concurrent membership restrictions represent government paternalism rather than addressing genuine market failures. Certificate requirements impose administrative burdens on individuals and scheme administrators. Simpler, less restrictive approaches to any legitimate policy aims would preserve individual choice while reducing compliance costs. The 2000+ year old framework unnecessarily constrains private pension decisions that should be matters of individual contract and preference.