Annual Allowance
Scottish health secretary demands 'decisive action' on NHS pensions
Scottish health secretary Jeane Freeman has written to chancellor Sajid Javid demanding he find a solution for heavily-taxed senior NHS workers in his upcoming Budget.
OTS outlines demands for pension tax system overhaul
The Office of Tax Simplification (OTS) has called on the government to review its “complicated” pension tax measures and simplify engagement with the system.
Lifetime allowance breaches cost savers £185m in 2017/18
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).
Is the current pensions tax relief system fit for purpose?
The government must conduct a fundamental review of tax reliefs and allowances to reduce complexity and confusion, says Malcolm McLean
NHS Employers publishes pension tax guidance
NHS Employers has published guidance for employers to support staff affected by the pension taxation issues.
Armed forces hit by annual allowance issue
Nearly 4,000 members of the Armed Forces Pension Schemes breached their annual tax-free pensions savings limit in 2017/2018, a freedom of information (FOI) request has revealed.
Government to review tapered pension tax rules for NHS doctors
The government has put forward proposals to review pensions tax relief rules in order to give senior NHS clinicians full flexibility over the amount that they contribute to their pensions.
Boris Johnson vows to fix NHS pension tax issue if he wins leadership race
Conservative leadership contender Boris Johnson has promised to fix the pension tax relief rules that are causing senior doctors and highly-paid staff in the NHS to work fewer hours leading to longer waiting lists.
Health secretary pushes chancellor for NHS pension tax reform
Chancellor Philip Hammond is being pressed to tackle the impact of pensions allowances on the NHS' ability to recruit and retain staff.
Pensions tax relief faces cut as government seeks funding for NHS
Chancellor Philip Hammond is set to announce cuts to pensions tax relief in his Budget later this month in order to raise revenue to pay for NHS funding commitments, according to reports.
Trustees should be proactive on DB transfers, says industry
Around three-fifths of respondents in this week's Pensions Buzz backed the view that trustees should take a proactive approach to engage with members when they are seeking to transfer out of their defined benefit (DB) scheme.
Treasury confirms Budget date; Radical tax relief reform 'more likely'
Chancellor of the Exchequer Philip Hammond has confirmed he will deliver the government's annual budget on 29 October.
Webb: What tax relief changes could mean for DB pensions
Any further changes to tax relief would undoubtedly add to the cost and complexity of running a DB scheme, says Steve Webb
We don't need more pensions tinkering
As Budget day approaches, Jonathan Stapleton says while meddling in pensions may offer an easy way to raise some cash, it must be resisted
Budget 2017 (number two): What's in store for pensions?
Ahead of the second Budget of 2017, industry experts tell James Phillips what they think the chancellor will seek to change on 22 November.
Deadline looms for voluntary scheme pays
Schemes have just five days left to organise voluntary scheme pays processes if they are to be ready for the January tax deadline, Punter Southall has warned.
Labour policy to raise income tax could see tapered allowance cut
Labour's proposal to raise income tax for higher earners could result in industry "horror" with the annual allowance taper being slashed by £70,000, Hargreaves Lansdown has warned.
Savers must weigh up pros and cons of pensions versus LISA
Mel Duffield says savers should think carefully before deciding to choose a LISA over a pension.
Budget 2017: The industry wish list
Ahead of tomorrow's Budget, PP looks at what the industry would like to see.
Annual allowance cut leads to 79% rise in breaches
The reduction of the annual allowance in 2014 has caused a significant rise in the number of people breaching the limit.
Hammond likely to cut pension tax relief in Budget - Webb
After extra £3bn cost to Treasury
Government to consult on slashing Money Purchase Annual Allowance
The government has announced a consultation into reducing the money purchase annual allowance (MPAA).
'Salami slicing' pensions tax relief could cost govt billions
Tax relief reductions have lowered the allure of pensions relative to other savings products, potentially costing the government billions of pounds in lost tax revenue over the long term.
HMRC delay on LTA look-up service is 'nuisance' for TPAs
The delayed launch of a service to check the protection status of members following the lifetime allowance (LTA) cut will mean extra work for administrators.
