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 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.
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
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.