Steve Charlton looks for an equitable way to incentivise saving for retirement.
Government plans to create jobs for 16-to-24-year-olds will see the state paying employer pension contributions, it is expected.
The economic uncertainty generated by Covid-19 is likely to cause a large number of defined contribution (DC) schemes to move into master trusts, according to PP readers.
The Financial Times has reported that Rishi Sunak is preparing to break the Conservative party’s “triple lock” state pension pledge, amid Treasury fears that the policy could become unaffordable because of the fallout from the coronavirus crisis.
Employers will be required to pay a proportion of furloughed staff costs from August, Rishi Sunak has announced today.
The government has been urged to extend the scheme pays deadline for NHS Pension Scheme members in light of the Covid-19 crisis.
The Treasury has announced a four-month extension to its consultation on reforming the Retail Prices Index (RPI) in response to the Covid-19 crisis.
The Bank of England (BoE) has cut its interest rate by 15 basis points to 0.1% as the central bank moves to reduce the “economic shock” stemming from the coronavirus pandemic.
‘We will get through this’
The government has left pension schemes with insufficient time to prepare members for changes to tapered annual allowance thresholds, due to come into effect from 6 April.
The government has launched consultations on overhauling the Retail Prices Index (RPI) methodology and addressing the net-pay anomaly.
The government has confirmed it has increased the National Insurance (NI) threshold from £8,632 to £9,500 from April.
First budget of this parliament
The government will raise the two tapered annual allowance thresholds by £90,000 in a bid to reduce the tax impact on high-earning NHS staff.
The Bank of England’s decision to cut the base rate by 50 basis points (bps) will prove challenging for both pension schemes and retirees, the industry warns.
Lane Clark & Peacock partner Steve Webb has urged ministers not to rush raising the pension access age amid growing speculation of a Budget announcement to accelerate the current timetable.
This week’s top stories included further calls for reforms of the pension freedoms, and prevailing uncertainty over cuts to tax relief on pension contributions.
Lane Clark & Peacock (LCP) has suggested the chancellor should take advantage of a large parliamentary majority to introduce a fundamental reform to pensions tax relief to raise significant sums.
Taxes will have to increase after the March Budget if the government plans to honour the spending plans in outlined last year, the Institute for Fiscal Studies (IFS) has warned.
High earners could face significant cuts to pension tax relief in the upcoming Budget under new Treasury plans to rein in the “perverse” system, according to reports.
Chancellor of the Exchequer Rishi Sunak has confirmed the government will go ahead with its Budget on 11 March, despite Sajid Javid’s resignation.
Chancellor of the Exchequer Sajid Javid has resigned just under a month before he was expected to deliver the first Budget of this parliament, making him the shortest-serving Chancellor for more than 50 years.
Climate activists from Extinction Rebellion have interrupted the Pensions and Lifetime Savings Association's (PLSA) local authority conference as a minister rejected calls for intervention.