Alan Casey sets out how schemes can use HMRC GMP listings even where they are riddled with errors
A total of 340,000 people withdrew £2.3bn in flexible payments from their pensions in the second quarter of 2020, according to HM Revenue & Customs (HMRC).
Pensions scams will be the key focus in the first part of a Work and Pensions Committee (WPC) inquiry reviewing the impact of the introduction of pension freedoms five years on.
HM Revenue & Customs (HMRC) must evaluate the benefits that are provided by pensions tax relief, MPs have said amid concerns the tax office does not understand the impacts.
HM Revenue and Customs (HMRC) has updated its tax guidance for GMP equalisation, detailing how pension schemes can resume paying lump sum benefits to members without adverse tax consequences.
This week’s top stories included amendments to the Pension Schemes Bill being passed by the House of Lords, while The Pensions Regulator revealed its intentions to tighten expectations on the industry with the release of its 2020/21 corporate plan.
This week’s top stories included the Pension Protection Fund naming 11 firms to its trustee and support services panel, and the latest analysis of mortality rates from Covid-19 and its impact on pension scheme assumptions.
Lane Clark & Peacock (LCP) has called out HM Revenue & Customs' (HMRC) tax policy on flexible drawdown as "unacceptable", claiming it could lead to draconian tax penalties during Covid-19.
While furloughed workers are still entitled to pension contributions, Justin Corliss says employers must consider the impact of Covid-19 on their duties.
While HMRC guidance on GMP equalisation contains both good and bad news for schemes, it does allow them to get going on the process, says John Wilson.
The Pensions Regulator (TPR) has issued further guidance for employers with pension obligations making use of the government’s Coronavirus Job Retention Scheme.
Key players in the Dock Workers Pension Fund tell James Phillips the tale of getting to endgame ahead of plan
HM Revenue and Customs has extended the deadline for the issue of final reconciliation data cuts due to the coronavirus outbreak.
The pensions industry still has a number of questions following the publication of HM Revenue and Customs’ (HMRC) guidance on tax issues covering GMP equalisation.
Savers who take an early retirement after becoming ill or sustaining severe injury are being increasingly harshly penalised for breaching pension tax relief limits, according to Royal London.
The lack of clarity from HM Revenue and Customs (HMRC) on guaranteed minimum pension (GMP) equalisation is “no excuse” for stalling implementation, says Aon.
This week's 88 Pensions Buzz respondents agreed that defined contribution (DC) master trusts have set a good example for other types of DC schemes during the authorisation process.
An individual who moves into self-employment after ten years work will miss out on an additional £115,300 in retirement funds after exiting their occupational pension scheme.
HM Revenue and Customs (HMRC) paid back over £54m in tax on pension withdrawals during the three months to 30 September – the highest quarterly amount since the introduction of Freedom and Choice in 2015.
HM Revenue and Customs (HMRC) has announced it will publish its long-awaited tax guidance specific to guaranteed minimum pension (GMP) equalisation in December.
Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).
One year on from the landmark ruling on GMP equalisation, Holly Roach looks at how far the industry has come and what remains for schemes to do.
Employers are increasingly concerned about the costs and complexity associated with equalising guaranteed minimum pensions (GMPs), according to the Association of Consulting Actuaries (ACA).