HMRC confirms pensions tax relief arrangements for Scottish Income Tax payers
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 guidance released by HMRC on 21 February explained how pension tax relief will work for Scottish taxpayers, clarifying the rules around pensions tax relief for the new income tax bands. According...
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Scheme sponsors face £100bn in costs under DB funding code and pensions bill rules, says LCP
The sponsoring employers of the UK’s largest pension schemes may have to put an additional £40-£45bn into their schemes over the next decade, Lane Clark & Peacock (LCP) warns.
What trustees looking to transfer to superfunds should consider
Caroline Kurup explores the latest TPR guidance on superfund transfers and what scheme trustees should be considering
Schemes must meet three gateway principles for superfund transfers
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.
EXCLUSIVE - Guy Opperman: Why we are consigning dozen-page pension statements to the dustbin
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
Second pensions bill expected in this parliament
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.
