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News on Pensions March 2016

Published by Tyron Potts on

Welcome to this month's News on Pensions. In this issue:

Budget 2016

Following the highly anticipated budget announcement on Wednesday 16 March, we take a look at new Lifetime Individual Savings Account (LISA) and other pensions-related issues discussed on the day, such as:

  • Salary sacrifice arrangements;
  • Pension Commencement Lump Sums;
  • Employer-funded workplace pensions advice;
  • Employer contributions to public sector pensions; and  
  • The launch of a ‘Pensions Dashboard’.

Pension transfers and early exit charges

We review any updates since the Government launched a consultation on pension transfers and early exit charges in July 2015, following on from the pensions freedoms. The consultation sought views on whether consumers face unjustifiable charges or other barriers, when moving scheme or accessing savings early.

Abolition of contracting-out

We look at Government's response to its consultation on further amendments to the legislation reflecting the abolition of contracting-out.

Our news in brief update also features:

  • PPF 7800 Index;
  • AMNT: defined contribution guide;
  • DWP: State Pension Age review;
  • Public sector: GMP indexation; and
  • Lifetime Allowance – interim protection application.

News on Pensions March 2016
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About the author

  • Tyron Potts

    Tyron advises trustees of UK defined benefit (DB) pension schemes on scheme funding, governance matters and winding up. He also advises employers on pension benefit design and accounting for pension costs in corporate accounts under a number of local and international accounting standards.

    View Biography

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