by Gail Higgins | Mar 13, 2015 | Uncategorized
In the case of the Trustee of the Singer & Friedlander Ltd Pension and Assurance Scheme v Corbett, the High Court has ruled that trustees may assign a section 75 debt to another party. Background The Singer & Friedlander Scheme was a defined benefit (DB)...
by Gail Higgins | Feb 20, 2015 | Uncategorized
The Pensions Ombudsman has published three determinations in relation to pension liberation, together with accompanying guidance. The cases all concerned members who had been denied a transfer from a personal pension arrangement to schemes that were said to be...
by Gail Higgins | Jan 30, 2015 | Uncategorized
Following a consultation last year, the Government has proposed the following figures, relating to automatic enrolment obligations, for the 2015/16 tax year: £10,000 for the automatic enrolment earnings trigger, unchanged from 2014/15, £5,824 for the lower limit of...
by Gail Higgins | Jan 9, 2015 | Uncategorized
Following European Court decisions in two separate cases last year, and a consequent review of its treatment of VAT on services provided to pension schemes, HMRC has now announced changes to its position. In summary: in relation to defined benefit (DB) schemes, HMRC...
by Gail Higgins | Dec 5, 2014 | Uncategorized
Under current law, if an individual has accessed his pension through drawdown, rather than by purchasing an annuity, on his death the remaining fund may be passed to a beneficiary, subject to tax: at 55% if the funds are paid as a lump sum or at the recipient’s...
by Gail Higgins | Nov 14, 2014 | Uncategorized
The Government has consulted on draft regulations that introduce the charge cap and other governance measures for money purchase arrangements with effect from April 2015. Governance The governance arrangements will not apply to: Small Self-administered Schemes,...
