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  • Events
    • Upcoming events
      event logo
      Webinar: Using passion for ESG to unleash member engagement

      This webinar will look at how pension schemes can harness their members’ interest in ESG to engage them more broadly with their pensions. In particular, it will look at exclusive research showing how members are reacting to ESG; their propensity to act versus their actual behaviour; and the expectations they have of providers in this regard.

      • Date: 26 Jan 2021
      • Webinar
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      Investment Conference

      This two part Investment Conference will bring you the latest updates from economists, asset managers and pension consultants. We will be taking a look at the outlook for the 2021 economy, alternatives, cashflow strategies and global equity markets to name a few, assessing how they fared through the volatility and what we can expect for the year ahead.

      • Date: 27 Jan 2021
      • Digital Conference
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      Webinar: What to put on your GMP Equalisation project roadmap for 2021

      This webinar will bring together views from actuaries, lawyers, administrators, trustees and data experts to look at the pragmatic, collaborative solutions that are open to schemes to solve the GMP equalisation challenges in 2021. It will assess the individual challenges schemes face with equalisations and provide some practical options that are available to resolve these issues.

      • Date: 02 Feb 2021
      • Webinar
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      Webinar: Will the world return to normal in 2021?

      In this webinar, PP editor Jonathan Stapleton will be joined by BMO’s chief economist Steven Bell and director of fiduciary management, Christy Jesudasan, alongside PTL trustee director Melanie Cusack and Isio’s head of fiduciary management oversight Paula Champion to discuss the significant impact of these themes on the pensions sector.

      • Date: 04 Feb 2021
      • Webinar
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  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

      Download
      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

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    You are currently accessing ProfessionalPensions via your Enterprise account.

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Income tax

Pensions tax relief to 'cost' government £40bn this year
Pensions tax relief to 'cost' government £40bn this year

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).

  • Industry
  • 11 October 2019
Estimated 1.75 million workers missing out on £60m in tax relief amid net pay 'scandal'
Estimated 1.75 million workers missing out on £60m in tax relief amid net pay 'scandal'

An estimated 1.75 million people are missing out on £60m in tax relief on their pension contributions in 2019/20, as the net-pay anomaly continues, Royal London estimates.

  • Defined Contribution
  • 08 April 2019
Scottish Budget income tax decision widens pension tax relief gap
Scottish Budget income tax decision widens pension tax relief gap

Scottish higher-rate taxpayers will benefit from more pensions tax relief than workers on the same salary anywhere else in the UK as income tax bands continue to diverge.

  • Defined Contribution
  • 13 December 2018
HMRC pays out £38m to pension freedom users after overtaxing
HMRC pays out £38m to pension freedom users after overtaxing

HM Revenue and Customs (HMRC) has had to pay £38m to pension freedom users after more than 18,000 counts of tax overpayment were reported.

  • Defined Contribution
  • 31 October 2018
Five stories you may have missed this week
Five stories you may have missed this week

This week's top stories included the pension tax relief consequences of the Scottish government's decision to differ tax bands for Scottish workers compared to the rest of the UK.

  • Industry
  • 15 December 2017
Scottish pension savers face tax relief 'chaos'
Scottish pension savers face tax relief 'chaos'

Proposed changes to Scottish income tax bands could see savers receiving too little tax relief, commentators have warned.

  • Law and Regulation
  • 08 December 2017
One in six tax returns filed by over-65s
One in six tax returns filed by over-65s

A rise in pensioner incomes and the freezing of pensioner tax-free allowance mean one in five taxpayers are now over the age of 65, Royal London says.

  • Industry
  • 31 July 2017
HMRC returns £27m of overpaid tax to pension freedom users
HMRC returns £27m of overpaid tax to pension freedom users

More than 10,000 counts of tax overpayment relating to pension freedoms have led to a £26.8m bill for HM Revenue & Customs (HMRC), latest data has revealed.

  • Defined Contribution
  • 28 July 2017
Labour launches general election manifesto
Labour launches general election manifesto

Labour has formally unveiled its general election manifesto - confirming pledges to amend the Takeover Code to protect pensioners, protect the triple-lock and give those overseeing the LGPS full trustee status.

  • Industry
  • 16 May 2017
Labour policy to raise income tax could see tapered allowance cut
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.

  • Law and Regulation
  • 09 May 2017
800,000 people 'overpaying tax' on pensions due to wrong codes
800,000 people 'overpaying tax' on pensions due to wrong codes

Nearly a million savers could be paying more tax on their pension than required, simply because they have been given the wrong tax code, Royal London has claimed.

  • Defined Contribution
  • 26 April 2017
Tax relief reform 'attractive' for chancellor in Autumn Statement
Tax relief reform 'attractive' for chancellor in Autumn Statement

A single rate of tax relief could be "far too attractive" for chancellor Philip Hammond to not consider introducing through his Autumn Statement, says public policy expert Iain Anderson.

  • Law and Regulation
  • 15 September 2016
Is this the beginning of the end for salary sacrifice?
Is this the beginning of the end for salary sacrifice?

Budget documents reveal the government is mulling a clampdown on the range of benefits available under salary sacrifice arrangements, writes Kristian Brunt-Seymour.

  • Defined Contribution
  • 18 March 2016
Pensioners still need minister to champion their cause says industry
Pensioners still need minister to champion their cause says industry

A person dedicated to fighting for pensioners is still needed according to research from PP.

  • Industry
  • 17 March 2016
Have your say: do we need a pensions minister if Osborne has the last word?
Have your say: do we need a pensions minister if Osborne has the last word?

This week we want to know if the UK needs a pensions minister if the Chancellor always has the last word and whether too many schemes are divesting from fossil fuels.

  • Industry
  • 14 March 2016
HMRC says £3.5bn taken since freedoms but Q4 shows signs of slowing
HMRC says £3.5bn taken since freedoms but Q4 shows signs of slowing

Statistics from HM Revenue and Customs (HMRC) have revealed 188,000 people have accessed around £3.5bn since freedom and choice came into effect last April but figures tailed off at the end of 2015.

  • Defined Contribution
  • 28 January 2016
Tax-free childcare in ten key points

HM Revenue and Customs has issued a ten point guide to the incoming Tax-Free Childcare scheme.

  • Employee Benefits
  • 30 November 2015
HMRC defeats Rangers FC over use of EBTs

Use of EBTs amounted to 'redirection of earnings' and therefore subject to tax, court decrees

  • Employee Benefits
  • 04 November 2015
Employer impact key consideration of NI and income tax merger

Employers' national insurance (NI) contributions will be a key consideration as part of a project exploring the potential merger of income tax and NI.

  • Employee Benefits
  • 22 July 2015
HMT reveals exclusions for £8,500 BiK cap removal

Carers who stay in their employer's home and ministers of religion are being excluded from the removal of the £8,500 benefits in kind (BiK) cap.

  • Employee Benefits
  • 10 December 2014

Most read

Mark Stocker dies following cancer battle
Mark Stocker dies following cancer battle
Pension Schemes Bill gets final approval and waits for Royal Assent
Pension Schemes Bill gets final approval and waits for Royal Assent
L&G agrees £400m deal with own scheme
L&G agrees £400m deal with own scheme
Boohoo acquisition of Debenhams leaves schemes with PPF
Boohoo acquisition of Debenhams leaves schemes with PPF
USS: Cost of scheme is 'growing challenge' as future returns 'likely to be lower'
USS: Cost of scheme is 'growing challenge' as future returns 'likely to be lower'
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