Pension savings currently attract tax relief. The Lifetime Allowance (LTA) is a limit placed by the Government on the value of pension benefits an individual can accrue over their lifetime without paying tax charges.
IFRIC 14 amendment will clarify the treatment of pension schemes where there is a surplus on the IAS 19 accounting basis but no future accrual of benefits.
Revised Directive may permit cross-border schemes to use recovery plans – but is this too little, too late?
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.