Pension allowance reform praised by industry but cost and impact of measures questioned
LTA abolished, AA rises to £60,000 and both MPAA and MTAA increased to £10,000
Some fear the government could alter inheritance tax rules or hike the minimum pensions age to 60
LTA, AA and MPAA reforms, and investment in UK growth assets
Reports say LTA could increase from £1m to £1.8m and the AA from £40,000 to £60,000
Daily Mail says lifetime and annual allowances among those that will increase
Final salary members of the AA UK defined benefit (DB) scheme are to move to a career average segment in a bid to stem the deficit.
AA has launched a consultation with its final salary scheme members to revalue benefits in a career average section.
The GMB union has called on The Pensions Regulator (TPR) to investigate AA which has seen its pension deficit more than double in just seven months.
How do valuation method affect funding levels?