HM Revenue & Customs has published an addendum to tax simplification newsletter 14. This outlines a reduction in the information requirements for pension commencement lump sums paid from money-purchase arrangements.
There is also a proposal to amend the Taxation of Pension Schemes (Transitional Provisions) Order 2006 (SI 1572). For copies, go to www.hmrc.gov.uk/pensionschemes/lump-sums.htm
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point