UK - The Conservatives will raise the value of the state pension and reverse the spread of means-testing if they win the next general election.
Work and pensions spokesman David Willetts said the party would give individuals £364 a year more in basic state pension and take a quarter of people off means-tested benefits by 2006.
Willetts told the right-wing think-tank Politeia: “We believe we can take at least one million off means-tested benefits. We will achieve this by raising the basic state pension in line with earnings during the course of the next parliament.”
HMRC has confirmed providers operating relief at source pension schemes can continue to collect automatic tax relief at a basic rate of 20% under new Scottish Income Tax rules.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.