The Treasury has rejected calls to change its mind on a planned cut to the money purchase annual allowance (MPAA) due to take effect next month.
From 6 April, savers will see the allowance slashed by 60% from £10,000 to £4,000 in a government bid to stop savers from "recycling pension savings" and benefitting from double tax relief. The MPAA...
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.