Yesterday, the government said it would work with the industry on "alternative ways" to implement pension tax relief restrictions - and would consider reducing the annual allowance to between £30,000 and £45,000 instead.
It is not year clear how such a reduction would be applied to defined benefit pension accrual. The table below - kindly provided by Towers Watson - shows the tax charges that would be incurred by members...
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.