by Gail Higgins | Dec 7, 2012 | Uncategorized
George Osborne delivered his Autumn Statement on 5 December and made further changes to the pensions tax régime – with effect from 6 April 2014: the Lifetime Allowance (LTA) (the amount of tax-advantaged savings that one may accumulate in total in pension...
by Gail Higgins | Nov 13, 2012 | Uncategorized
The Government is consulting on regulations that will allow schemes which provide bridging pensions to continue payment of those pensions until State Pension Age (SPA), even where this is beyond age 65. Background Some defined benefit schemes, if they have a pension...
by Gail Higgins | Oct 12, 2012 | Uncategorized
Introduction The PPF is aiming to simplify the process of assuming responsibility for schemes in assessment. Until now, it has been necessary for an actuary to undertake a detailed valuation of a scheme’s assets and liabilities under section 143 of the Pensions...
by Gail Higgins | Sep 21, 2012 | Uncategorized
FATCA is a law introduced in the USA to root out overseas tax avoidance. Starting in January 2014 (although it has been deferred twice so far!), Foreign Financial Institutions will be required to: register with the US Internal Revenue Service (IRS), provide...
by Gail Higgins | Aug 3, 2012 | Uncategorized
This article replaces our earlier article on the same subject and reflects subsequent amendments. The Government has introduced legislation, into the Finance Act 2012, to ensure that employers who use Asset-backed Contributions (“ABCs”) to fund deficits in...
by Gail Higgins | Jul 25, 2012 | Uncategorized
Background The Government ran a consultation last year aimed at addressing the problem of “small pots” – small pension accounts that relate to former scheme members. This issue is expected to become more widespread as the auto-enrolment of millions...
