Pension schemes should not rest easy as Scots vote No to independence, changes still lie ahead
Following the publication today of Dame Sally Davies’ annual report into mental health which shows mental illness leads to the loss of 70 million working days in the UK
Exposure draft confirms schedule of contributions will not need to be recognised as additional liability under accounting standard FRS102
CPIH’s loss of national statistic status means some schemes may need to look once again at their pension increase rules
According to research by Barnett Waddingham, UK insurers completed bulk annuity transactions totalling around £2.5bn in Quarter 2 of 2014.
Our annual FTSE350 research has shown that firms pay 37p out of every £1 they spend on pension provision on reducing existing DB pension deficits.
The ability to take a tax free lump sum on retirement has long been a popular feature of pension arrangements. Commutation is defined as giving up part or all of the pension payable from retirement in exchange for an immediate lump sum.
When the government changed statutory minimum pension increases to increases in CPI rather than RPI, many employers and trustees were flung into a flurry of activity on what that meant for their schemes.
The government has announced today that it will not ban members of DB pension schemes from transferring into DC schemes, but will require members to receive regulated advice before they transfer.
A note about the government response to the consultation on freedom and choice in pensions, focusing on the announcement that transfers from DB to DC schemes will not be banned.