More than 4,500 pension scheme members breached the lifetime allowance in the 2017/18 tax year, an increase of 36% from the year before, according to HM Revenue and Customs (HMRC).
In data published today (26 September), the tax office revealed these savers had paid around £185m in charges as a result of the breach, up 29% from 2016/17. Meanwhile, a further 37,300 members exceeded...
This week’s top stories include an article about women remaining at risk of running out of money in retirement, and one about Buck winning 36 additional client contracts since launching as an independent business last year.
After a tumultuous few weeks of campaigning, the Conservative party won their largest majority since Margaret Thatcher's 1987 victory in last night’s general election, while Labour is facing its worst defeat since 1935.
A review of how the general levy is calculated must be undertaken by the Department for Work and Pensions, 70% of this week’s 90 Pensions Buzz respondents said.
Taylor Wessing has published a report gauging industry views on challenges associated with pensions restructuring. Kim Kaveh explores the findings
Pensions have overtaken household property wealth to become the largest component of household wealth, according to analysis from the Resolution Foundation.