Hammond considers cutting higher-rate tax relief
A cut in higher-rate pension tax relief could be on the cards for the November Budget, according to Treasury insiders.
Chancellor Philip Hammond has ordered Treasury civil servants to undertake a detailed assessment of public spending in a bid to find ways to plug the deficit, The Sunday Times has reported. A cut to...
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Government withdraws 10% general levy increase
The Department for Work and Pensions (DWP) has cancelled a planned rise to the general levy amid the ongoing Covid-19 outbreak.
TPR deficit contribution guidance welcomed but 'hidden implications' arise
The Pensions Regulator (TPR) is “pulling out all the stops” to help struggling employers during the Covid-19 crisis, although latest guidance may put trustees in a “challenging” position, the industry says.
Consider suspending DRCs for three months if necessary, TPR says
Defined benefit (DB) scheme trustees should be open to employer requests to reduce or suspend deficit recovery contributions (DRCs) if there is a good reason to do so, The Pensions Regulator (TPR) has said.
TPR extends late payment reporting deadlines
The Pensions Regulator (TPR) has temporarily relaxed the timeframe for schemes which need to report late payments from employers for workplace pension schemes.
New delay for contingent charging ban decision
The Financial Conduct Authority (FCA) has postponed its decision on whether to ban contingent charging on defined benefit (DB) transfers by up to six months.
