While buyout is still viewed as a gold-standard, many are now considering run-on as an option
Faster than expected decline of open DB leads to calls for DC policy upgrade to improve outcomes
The government will pay out £21bn in income tax relief for pension contributions this tax year, while national insurance relief payments will rise to £18.7bn, according to statistics from HM Revenue and Customs (HMRC).
Capping the pension tax-free lump sum at £40,000 would raise £2bn a year for the government, new research by the Resolution Foundation suggests.
The Liberal Democrat party has passed a motion pledging to cap tax-free lump sums under Freedom of Choice at £40,000 if elected into government.
AE staging dates are spread across seven years, but small businesses will have very little time to prepare for rate increases. James Phillips reports