UK - Tax simplification could be derailed by the National Audit Office's report that the £1.4m limit will affect double the government's estimate, Mercer fears.
Chancellor Gordon Brown – who commissioned the NAO to look at the £1.4m limit in December – “threatened” to scrap tax simplification unless the industry agreed to the limit.
The government estimates that 5000 people will be affected by the £1.4m limit.
Mercer worldwide partner Paul Greenwood said: “If Brown really wants to drop the proposals, they’ve left him with room to manoeuvre. But we really don’t think that 5000 or 10,000 is significant in terms of the number of people employed in the UK.”
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.