The Treasury could net a tax windfall from scheme members who fail to check benefits against their lifetime allowance, Standard Life claims.
It believes administrators may decide to deduct a lifetime allowance charge of 25pc on every member who reaches the age of 75 without taking benefits to comply with HM Revenue & Customs advice. HMRC...
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.