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Discussion Zone
Recent Topics |
| - | Annual Allowance - Late Retirement |
| - | Annual Allowance - carry forward and scheme pays - election needed? |
| - | Scheme Pays - Reduction in member's benefits |
| - | New annual allowance rules |
| - | Pension Input Amount - 2/3rds benefit promise |
| - | Abolition of Protected Rights |
| - | Revision to Fixed rate GMP revaluation for post 5/4/2012 leavers |
| - | Stakeholder post auto-enrolment |
| - | Pension Protection Fund - Benefits Covered |
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Next Meeting: 12/06/12 |
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FREE RPI Revaluation Table for 2011 and 2012
The Pensions Minister's announcement on 8 July 2010 that henceforth the Consumer Price Index (CPI) would be the basis for determining increases for all occupational pensions has triggered a flood of unforeseen consequences ... more |
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| HMRC: regs, guidance and the exercise of discretion |
| 17/05/2012 |
| In a devastating blow to the Guernsey financial services industry, HMRC has confirmed it will not recognise any Guernsey scheme set up under section 157E of the Income Tax (Guernsey) Law 1975 as a QROPS, unless membership is restricted to Guernsey residents. The Pension Schemes (Categories of Country and Requirements for Overseas Pension Schemes and Recognised Overseas Pension Schemes) (Amendment) Regulations 2012 (SI 2012/1221) provide legislative support for ... more |
| New TPR Statement on DB Pension Scheme Funding |
| 27/04/2012 |
| Today The Pensions Regulator (TPR) has published a Statement to provide guidance on how pension scheme funding valuations should be approached, particularly by trustees and employers of defined benefit pension schemes with effective dates in the period September 2011 to September 2012. It will be their third ... more |
| Disclosure time limits to be adjusted for auto-enrolment |
| 27/04/2012 |
| The DWP has launched a consultation seeking views on minor amendments to the disclosure of information regulations for occupational pension schemes, in order to 'dovetail' them with automatic enrolment provisions to be introduced from October 2012. The draft Occupational Pension Schemes (Disclosure of Information) (Amendment) Regulations 2012 will require ... more |
| Finance Bill 2012 and Pension Schemes Newsletter 53 |
| 18/04/2012 |
| This year’s Finance Bill (technically, the Finance (No. 4) Bill 2010-12) is being considered today and tomorrow by a Committee of the Whole House. The good news is that very little of the 686 pages concerns pensions: in fact the only substantial ... more |
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| Aries Named Pension Technology Provider of the Year |
| The UK Pensions Awards are rightly regarded as the industry's most prestigious accolades, which recognise continuous and ongoing improvement. We are therefore very pleased to announce that Aries won Pension Technology Provider of the Year ... more |
| Automatic enrolment: revised staging dates and earnings thresholds |
| 12/04/2012 |
| The auto-enrolment jigsaw is coming together, following the rearrangement of the implementation timetable announced in January 2012. Currently the DWP is seeking views on the changes to staging dates, for employers with fewer than 250 workers in their PAYE scheme, and to the arrangements for phasing of minimum contributions, affecting all employers. The consultation ... more |
| New guidance from HMRC on Annual Allowance and Lifetime Allowance |
| 23/03/2012 |
| Some assistance for those desperately trying to determine whether to apply for fixed protection, with all the consequences entailed for pension saving, has emerged from HMRC in the past week. First of all, HMRC has made some revisions and prepared additional guidance on the ... more |
| State pensions and related legislation |
| 23/03/2012 |
| This article summarises various pieces of secondary legislation which have been laid recently, mostly coming into force on 6 April 2012: The Social Security (Miscellaneous Amendments) Regulations 2012 (SI 2012/757); The Social Security (Credits) (Amendment) Regulations 2012 (SI 2012/766) ... more |
| Budget relief |
| 21/03/2012 |
| The Chancellor seems to have listened to fervent pleas from the industry to stop tinkering with pensions tax legislation. In his 2012 Budget speech today, Mr Osborne said there would be "no change to pensions relief in this Budget". He meant no further changes to the level of annual or lifetime allowances, nor any restriction of the availability of higher rate relief. Tax reliefs were certainly a feature of the Budget though ... more |
| Pension Schemes Newsletter 52 and new SIs |
| 13/03/2012 |
| As we approach the end of the tax year, March has already been busy. HMRC has released Pension Schemes Newsletter 52 covering: Protecting pension savings - fixed protection election reminder; Fixed protection - benefit accrual - the relevant percentage; Lifetime Allowance Charge - BCE 3 and “excepted circumstances” PIE exercises ... more |
| The Pensions Regulator on automatic enrolment |
| 09/03/2012 |
| The Pensions Regulator (TPR) has set out its strategy for maximising employer compliance with new automatic enrolment duties. It hopes to achieve this by: providing employers, intermediaries and advisers, with the information, tools and support they need to get to grips with the new duties; establishing a ... more |
| GMP revaluation: fixed rate goes up to 4.75% |
| 05/03/2012 |
| The Government has laid regulations (SI 2012/542 Reg 2) confirming that (for the first time) fixed rate revaluation of guaranteed minimum pensions for early leavers is to increase. Where a member's contracted-out employment ceases on or after 6 April 2012, the whole of any GMP must be revalued by ... more |
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RPI Mar 2012: 240.8 RPI Table |
| CPI for Mar 2012: 122.2 CPI Table |
| TPI for Mar 2012: 3.3 TPI Table |
| AWE for Jan 2012: 145.6 (provisional) AWE Table |
| Standard Lifetime Allowance for 2012 - 2013: £1,500,000 Table |
| Annual Allowance for 2012 - 2013: £50,000 Table |
| Earnings cap for 2012 - 2013: £137,400 Table |
| LEL for 2012 - 2013: £5,564 p.a. UEL for 2012 - 2013: £42,475 p.a. Table |
| LPI from Jan 2012: 5.0% LPI Table |
| Increase to post-1988 GMPs in payment for 2012 - 2013: 3% Table |
| Basic State Pension for 2012 - 2013: Single £5,587.40 p.a. Married £8,936.20 p.a. BSRP Table |
| more pensions statistics |
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