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Discussion Zone
Recent Topics |
| - | Paying pensions overseas |
| - | Evidence to reduce Scheme Sanction Charge |
| - | Who reports scheme events where there is no Administrator |
| - | GMP calculations |
| - | Dependents USP |
| - | Partial Transfers POST Crystallisation |
| - | Deemed BCE 6 for pre'87 members who took TFC and deferred pension pre a-day |
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| - | DWP research study |
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Next Meeting: 21/09/10 |
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| DWP pensions legislation: latest proposed changes |
| 20/08/2010 |
| Recent confirmation that DC contracting-out is to be abolished completely in 2012 has triggered some consternation in the industry about the consequential block on transfers of GMP or s.9(2B) rights to money purchase schemes. Such rights can only be accepted by a ... more |
| Update on The Pensions Regulator's 2010 DB Campaign |
| 06/08/2010 |
| Starting on 9 June with a statement about "Getting to grips with the employer covenant", The Pensions Regulator (TPR) promised a series of new guidance documents for consultation this summer. The first of these ... more |
| Abolition of DC contracting out: draft consequential legislation |
| 30/07/2010 |
| From 6 April 2012 the term 'protected rights' will be expunged from social security legislation. Protected rights will no longer exist: they become ordinary money purchase scheme benefits. Only salary related schemes can continue to be contracted-out after April 2012. Contracting-out certificates for defined contribution (DC) schemes will be automatically ... more |
| Default Retirement Age to go by October 2011 |
| 29/07/2010 |
| In a new consultation launched today, the Government confirms the demise of the Default Retirement Age (DRA). It intends to phase it out over just six months from April next year. The consultation document sets out the background to the DRA, and explains ... more |
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| Aries has become the preferred tool for pension providers, administrators and advisers who have to make sense of the UK regulatory regime ... more |
| Restriction of Pensions Tax Relief: Annual Allowance cut to £40k? |
| 27/07/2010 |
| Today the Treasury issued the anticipated discussion document on its proposed alternative to the High Income Excess Relief Charge in FA 2010. This document sets out the range of issues on which the Government will make decisions in designing a new regime, including ... more |
| Update on Finance Bills: age 75 and all that |
| 20/07/2010 |
| On 22 June 2010 the Government announced two major changes to the legislation governing private pension schemes. This article covers what has since happened and clarifies the Government's timescale. First we must step back a little ... more |
| New EU Green Paper on adequate, sustainable and safe pension systems |
| 19/07/2010 |
| The European Commission has on July 7 2010 launched a Europe-wide public debate on how to ensure adequate, sustainable and safe pensions and how the EU can best support the national efforts. The old-age dependency ratio ... more |
| Inflation increases to pensions: CPI with everything |
| 09/07/2010 updated 21/07/2010 |
| The Chancellor of the Exchequer announced in the Budget statement on 22 June that, with some exceptions (notably the state pension and pension credit), from next year consumer prices rather than retail prices will be the basis for uprating most benefits and public sector pensions. The Government has now gone further: in a Statement yesterday ... more |
| Finance Bill: HMRC issues guidance on new age 75 rules |
| 02/07/2010 |
| This year's second Finance Bill was published yesterday, together with Explanatory Notes. Clause 5 contains a power enabling the Treasury to repeal via secondary legislation the provisions for the High Income Excess Relief (HIER) charge in FA 2010 s.23 & Sch 2. Any Order made under this provision must be ... more |
| Finance Bill 2010-11 |
| 29/06/2010 updated 01/07/2010 |
| The Finance Bill 2010-11 was presented to Parliament on 28 June 2010. This is known as First Reading and there was no debate on the Bill at this stage. The Bill will be on the House of Commons Order Paper for a Second Reading debate on 6 July 2010 ... more |
| Under age 55 and in USP: what can be done? |
| 29/06/2010 |
| In this article we review the impact of the step-change in Normal Minimum Pension Age (NMPA) from 50 to 55 on 6 April 2010: in particular, on individuals who having reached age 50, before 6.4.10 designated part or all of a pension arrangment as USP. There is considerable uncertainty about ... more |
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| Aries Answers ... |
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| ... your questions about |
| Unauthorised Payments |
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RPI for July 2010: 223.6 RPI Table |
| CPI for July 2010: 114.3 CPI Table |
| NAE for June 2010: 140.0 (provisional) NAE Table |
| AWE for June 2010: 455 (provisional) AWE Table |
| Standard Lifetime Allowance for 2010 - 2011: £1,800,000 Table |
| Annual Allowance for 2010 - 2011: £255,000 Table |
| Earnings cap for 2010 - 2011: £123,600 Table |
| LEL for 2010 - 2011: £5,044 p.a. UEL for 2010 - 2011: £43,875 p.a. Table |
| LPI from Jan 2010: 0.0% LPI Table |
| Increase to post-1988 GMPs in payment for 2010/ 2011: 0% Table |
| Basic State Pension for 2010 - 2011: Single £5,077.80 p.a. Married £8,119.80 p.a. BSRP Table |
| more pensions statistics |
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