Chancellor George Osborne has confirmed the lifetime allowance will be reduced from £1.25m to £1m, netting the Treasury an extra £600m a year.
This comes after Labour leader Ed Miliband revealed his party would cut the lifetime and annual allowances in an effort to reduce university tuition fees if it wins the general election. But industry...
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.