With the Workplace Pensions now up and running a number of Government departments are already looking at this as a work in progress. All UK businesses need to be aware of the need for on-going governance and due diligence, as the responsibilities ultimately lie with them. PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: The DWP has […]
PENSIONS – PENSION REFORM 2014/15 Synopsis: Today’s papers have been reporting that George Osborne is delivering a further flexibility provision for pensions – the ability to withdraw money as you would from a bank account. Date posted: Tuesday, October 14, 2014 Today’s newspapers have been filled with pension headlines on the ability to withdraw funds […]
PENSIONS – AUTOMATIC ENROLMENT/AUTOMATIC ENROLMENT Synopsis: Four and a half million workers have been auto enrolled so far but there is still work to do for tens of thousands of employers. Date posted: Friday, October 03, 2014 The Pensions Regulator has marked the second anniversary of the start of automatic enrolment by acknowledging its success […]
PENSIONS – PENSION REFORM 2014/15 Synopsis: This Bulletin considers the rules relating to “small pots” commutation both now and beyond the pensions flexibility changes that are due to take place on 6 April 2015. Date posted: Thursday, August 28, 2014 HMRC’s draft guidance relating to the changes in respect of the taxation of pensions from […]
PENSIONS – PENSION REFORM 2014/15 Synopsis: FCA has recently published a Consultation Paper 14/16 on proposed rules for Independent Governance Committees for workplace pensions. Date posted: Thursday, August 14, 2014 The Financial Conduct Authority (FCA) has recently published a Consultation Paper 14/16 (CP14/16) on proposed rules for Independent Governance Committees (IGCs) for workplace pensions (QWPPs) The proposals […]
PENSIONS – PENSION REFORM 2014/15 Synopsis: The government have published their response to the Freedom & Choice in Pensions consultation. Date posted: Tuesday, July 22, 2014 Further to our bulletin detailing the Ministerial statement as a forerunner to the full response, the full government response to the Freedom & Choice in Pensions consultation has now […]
ENHANCED FLEXIBILITY FOR ANNUITY PRODUCTS UNDER NEW PENSION REGULATIONS PENSIONS – PENSION REFORM 2014/15 Synopsis: As a result of increasing the flexibility with which people can take retirement benefits from DC schemes, the Government will be easing the tax rules to enable product providers to develop new retirement income products that more closely meet the […]
PENSIONS – PENSION REFORM 2014/15 Synopsis: At the April 2014 Pensions Industry Stakeholder Forum the dates concerning the response to the consultation on the April 2015 changes, and the further steps to introduce this legislation, were announced. Date posted: Monday, June 09, 2014 The minutes of the HMRC Pensions Industry Stakeholder Forum held on 17 […]
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 – 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 […]
