Pension professionals have reacted with outrage to Treasury plans to cut the money purchase annual allowance (MPAA) from £10,000 to £4,000 from April.
The move, which was announced in the Autumn Statement in November, is designed to stop savers from "recycling pension savings" and benefitting from double tax relief. Yet the measure has been denounced...
The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Online provider Pension Bee has created a flexible pension for self-employed savers, allowing them to make contributions according to their income.
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.