Savers overtaxed £400m by HMRC on pension freedoms
HM Revenue and Customs (HMRC) has taken over £400m too much in tax from savers accessing their pensions since the introduction of Freedom and Choice in 2015.
When a saver accesses their pension fund to make a withdrawal, an emergency tax code is applied which operates on the basis that this sum will be received every month. Many savers accessed their pension...
More on Defined Contribution
Spring Budget 2021: Government to consult again on DC investments and charge cap barriers
The government will press ahead with plans to use the “largely untapped pool of capital” in defined contribution (DC) schemes to invest in venture capital and growth equity assets.
Industry Voice: Three lessons learned in 2020
Newton’s Catherine Doyle considers key lessons for DC investors from the pandemic
Time to 'go back to the drawing board' as three-quarters want decumulation guidance
Three-quarters of pension scheme members want guidance before drawing down on their pension pot, according to a survey from The People’s Pension.
LCP calls for 'fundamental rethink' on DC chair's statements
Defined contribution (DC) chair’s statements need a major re-think as part of the Department for Work and Pensions’ five-yearly statutory review on the rules around scheme governance in 2021, LCP says.
Consolidating DC schemes urged to act before 'capacity crunch'
Trustees must undertake a five-step process urgently if they are seeking to move their single-employer defined contribution (DC) scheme into a master trust, says Premier.
