BUDGET 2014 Synopsis: A summary of the Treasury Select Committee (TSC) view on pension’s reform and the role of the FCA. There is clear concern over the potential for mis-selling and consumer detriment. Date posted: Tuesday, May 13, 2014 The Treasury Select Committee (TSC) has published its report on the 2014 Budget. A summary of […]
PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: The Pensions Regulator has issued a Section 89 report showing one employer significantly failed in their automatic enrolment responsibilities. Date posted: Monday, April 28, 2014 The Pensions Regulator (TPR) has issued its first automatic enrolment section 89 report which highlights key lessons to help employers avoid noncompliance. The report […]
PENSIONS – SIMPLIFIED TAX REGIME Synopsis: A fixed protection 2014 reminder Date posted: Monday, March 31, 2014 Fixed Protection 2014 elections will need to made this week (w/c 31/3/14) and no later than Saturday 5th April 2014. To apply on line here. Alternatively, if you are applying by post, applications must be received at HMRC […]
PENSIONS – PENSION REFORM 2014/15 Synopsis: Government announce relaxation to rules on timings of drawing PCLS with pension income Steve Webb has announced that the government is to change the current rules that require the income from a pension to be taken within 6 months of the pension commencement lump sum being drawn. The government […]
BUDGET 2014 Synopsis: Weekend newspapers carry headlines of mass pension fund withdrawal to fund buy to let pension alternative Date posted: Monday, March 24, 2014 The proposed April 2015 relaxation permitting unrestricted pension fund drawdown to all regardless of ‘pot size’ has carried some predictions of a flood of requests from ‘pension disaffected retirees’ to […]
PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: TPR publishes update to AE figures. Date posted: Friday, March 14, 2014 More than three million workers have begun now saving into a workplace pension scheme as a result of automatic enrolment, according to figures released today by The Pensions Regulator. The three millionth worker is employed by West […]
PENSIONS ACT 2004 Synopsis: The Pensions Regulator urges medium and small firms to find out when auto enrolment will affect their business. Date posted: Thursday, March 13, 2014 The Pensions Regulator has issued a reminder notice on their website for medium and small employers after their research shows many employers are unprepared for Auto Enrolment. Thousands of […]
PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: The Government has published their response to March 2013 consultation on proposed technical changes to AE processing. Date posted: Wednesday, February 19, 2014 Our previous bulletin detailed the Automatic Enrolment Technical Changes consultation document. The Government has now published their response to the consultation and more specifically the exemption […]
PENSIONS ACT 2004 Synopsis: The TPR have issued a standard governance statement to help Trustees evidence good quality DC pension schemes. Date posted: Tuesday, February 18, 2014 The Pensions Regulator (TPR) has published a standardised Defined Contribution governance statement to help Trustees in their quest for good governance. The governance statement should be used to: […]
ANNUITIES/PURCHASED LIFE ANNUITY Synopsis: In an article in the February 8 edition of the Daily Telegraph, Rachel Reeves, the shadow Work and Pensions Secretary, has indicated that a future Labour government will require all retiring members of a money purchase pension scheme to be referred to an independent broker, to ensure they obtain the most […]
