Chancellor George Osborne has cut the annual allowance to £40,000 and reduced the lifetime allowance to £1.25m as part of a drive to raise more tax revenue from the rich.
In his Autumn Statement, Osborne said he would reduce the annual allowance from £50,000 to £40,000 and cut the liftetime allowance from £1.5m to £1.25m from 2014/15. The Chancellor said the cut to the...
Caroline Kurup explores the latest TPR guidance on superfund transfers and what scheme trustees should be considering
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.
A “legitimate debate and discussion” is needed over future auto-enrolment (AE) contribution rates, says Guy Opperman, and that could take place next year.