Measure will make it easier for trustees and employers to agree surplus extraction
Martin Richmond looks at how the industry could respond to default decumulation duties
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