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.
The lack of clarity from HM Revenue and Customs (HMRC) on guaranteed minimum pension (GMP) equalisation is “no excuse” for stalling implementation, says Aon.
HM Revenue and Customs (HMRC) has announced it will publish its long-awaited tax guidance specific to guaranteed minimum pension (GMP) equalisation in December.
Employers are increasingly concerned about the costs and complexity associated with equalising guaranteed minimum pensions (GMPs), according to the Association of Consulting Actuaries (ACA).
With savers facing 100% of the potential downside of patient capital investment, as well as tax implications from the upside, Peter Glancy argues it is not the most enticing proposition.
The cross-industry GMP Equalisation Working Group has published guidance outlining methods schemes could use to equalise for the sex based inequalities of GMPs.
The majority of this week's Pensions Buzz respondents agreed with the Financial Conduct Authority's (FCA) proposal to ban contingent charging on defined benefit (DB) transfer advice.
HM Revenue and Customs (HMRC) does not know how many people it has fined for breaching pension tax allowance rules, a Freedom of Information request has revealed.
The industry-wide GMP equalisation group has created five sub-committees to each work on a key component of the guidance. Holly Roach reports