NHS
Five stories you may have missed this week
This week’s top stories included Aon findings that the number of defined benefit schemes employing a sole trustee model is expected to double by 2025, while Scottish Widows invested £2bn as the inaugural investor in BlackRock’s new climate fund.
NHS scheme pays deadline further extended to March 2021
NHS Pension Scheme members in England and Wales have been given a further six months to take advantage of the voluntary scheme pays process for the 2018/19 deadline.
Government extends NHS scheme pays deadline
NHS Pension Scheme members will be given an extra three months to make use of the voluntary scheme pays facility due to the increased pressures arising from the Covid-19 pandemic.
Five stories you may have missed this week
This week’s top stories included XPS Pensions revealing the best and worst performing fiduciary managers in Q1, while the Pensions and Lifetime Savings Association has published a template to help defined contribution trustees with annual chair’s statements....
GAD and DHSC increase tax flexibilities for NHS Pension Scheme
Senior clinicians within the NHS Pension Scheme will receive extra assistance to adjust their pension accrual to fit within tax allowances.
Pension tax changes for public workers lauded a fair choice
The government’s proposal of temporary changes to pension tax for public sector workers amid the Covid-19 pandemic is the fairest choice, says Royal London.
Chancellor poised to plug NHS pension crisis with annual allowance easement
New chancellor Rishi Sunak is likely to ease restrictions on pension tax relief for high earners to meet the NHS workforce crisis.
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.
Five stories you may have missed this week
This week’s top stories included Lloyds agreeing a £10bn longevity swap with Pacific Life Re for three of its pension schemes, and the Co-operative Pension Scheme completing a £1bn buy-in with Aviva.
Form a permanent pensions commission, urge Buzz peers
This week’s 102 Pensions Buzz respondents were in agreement that a permanent pensions commission should be formed.
NHS: Pension tax problems will cause staff exodus
Almost half (44%) of clinical and non-clinical trust executive directors are considering or planning to leave the NHS in the next two years due to pension taxation, according to NHS Providers.
Treasury looks to 'raise tapered threshold to £150,000'
HM Treasury intends to give tax relief worth hundreds of millions of pounds to those earning over £110,000, it is being reported.
Budget to deliver government findings on tapered annual allowance
The government’s review of the tapered annual allowance is underway with findings expected to be announced in the 11 March Budget.
Boris must not spurn the pensions opportunities from a Tory majority
The Conservatives’ romp at last week’s national poll gives a great chance to make dramatic changes to boost people’s pensions, says Gregg McClymont.
General Election 2019: The pensions manifesto pledges
All of the major political parties have now unveiled their policies on pensions ahead of the general election. Professional Pensions looks at what they have promised.
Conservatives commit to review of taper and net-pay issues
The Conservative party will hold reviews of the tapered annual allowance and net-pay schemes if it is elected back into government, it has said.
NHS England confirms emergency action on pension tax
NHS England has confirmed it will take urgent action on to ensure NHS workers who exceed their annual allowance during this financial year will be able to take on additional work without being left out of pocket.
Labour and Lib Dems unveil election manifestos
The Labour party and the Liberal Democrats have published their 2019 election manifestos, with little similarities in proposals for the future of pensions policy.
Govt in 'quick fix' move to pay NHS workers' pension tax bills
The government is to pay the tax bills of NHS workers caught out by changes to pension contribution limits who have been turning down additional work for fear of running up large tax bills.
General election 2019: the pensions manifesto the industry wants to see
With political parties drawing up their manifestos for next month’s general election, Kim Kaveh explores the industry’s ambitions for future pensions policy.
November Budget cancelled to 'get Brexit done', chancellor says
The government has scrapped plans to go ahead with an Autumn Budget on 6 November as prime minister Boris Johnson continues to push for a general election before the end of the year.
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 could face legal action over 'short-changing' public sector pensions
Teachers and doctors could have grounds for a legal challenge against the government for age discrimination if they have been moved to a less beneficial pension scheme, Leigh Day says.
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