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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: 06/03/12 |
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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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| Section 148, Low Earnings Threshold, and Flat Rate Orders for 2012/13 laid |
| 02/02/2012 |
| Three statutory instruments applicable to the calculation of the state additional pension (S2P) were laid before Parliament on 31 January. The Social Security Revaluation of Earnings Factors Order 2012 (SI 2012/187): The DWP has laid a s.148 Order as there was a 1.8% increase in the general level of earnings (as measured by the Average Weekly Earnings Index) over the 12 months to 30.9.2011. This Order therefore provides for ... more |
| Latest changes to HMRC guidance |
| 27/01/2012 |
| A new set of amendments to the RPSM published on 9 January 2012 brings the Manual more nearly up to date with the radical changes wrought by last year's Finance Act. Further guidance from HMRC on certain aspects of the Fixed Protection rules, the operation of Scheme Pays in the year of retirement, and ... more |
| Work and Pensions Committee takes evidence from Pensions Regulator |
| 13/01/2012 |
| This week, the Pensions Regulator (TPR) faced questions from the DWP's House of Commons select committee on monitoring compliance with automatic enrolment; its communication strategy; and on governance of defined contribution schemes more broadly. As a first step in assuring ... more |
| New version of TM1 specification for statutory money purchase illustrations (SMPIs) |
| 28/12/2011 |
| The Board for Actuarial Standards (BAS) - responsible for setting technical actuarial standards in the UK - has released a new version of Technical Memorandum TM1 (version 2.0, December 2011) ... 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 |
| Pension Protection Levy Down |
| 28/12/2011 |
| Following a formal consultation, the Board of the Pension Protection Fund (PPF) has published its final levy determination for 2012/13 ... more |
| Solvency II and Test-Achats: collateral damage |
| 23/12/2011, updated 04/01/2012 |
| "Directive 2009/138/EC of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)" has caused a significant stir in the pensions industry, and for good reason ... more |
| New guidance from HMRC |
| 22/12/2011 |
| This article reports on several changes to official guidance and other recent publications concerning pensions tax legislation, including two Pensions Schemes Newsletters ... more |
| Improving transfers and dealing with small pension pots |
| 20/12/2011 |
| As part of what the Minister of State for Pensions, Steve Webb, has dubbed "Operation Big Fat Pension Pot", the DWP has launched the long-awaited consultation on proposals to deal with "the proliferation of small pension pots" ... more |
| Update on Auto-enrolment and State Pension Reform |
| 16/12/2011 |
| In the House of Commons on 28 November, Minister for Pensions, Steve Webb announced a partial delay to the programme of staging dates for auto-enrolment ... more |
| Employer Debt Regs: Flexible Apportionment Arrangements |
| 15/12/2011 |
| Last summer the DWP consulted on a new option for dealing with a debt arising when an employer leaves a multi-employer occupational pension scheme, particularly to assist in corporate restructurings. The proposed innovation, termed a 'flexible apportionment arrangement', is the principal subject of a new set of regs laid today ... more |
| Draft legislation for Finance Bill 2012 |
| 06/12/2011 |
| Hard on the heels of last week's Autumn Statement today HM Treasury published draft legislation for next year's Finance Bill. Technically this is labelled as a consultation: comments to ensure the legislation works as intended are welcomed, but not comments on the policy. The Bill itself is to appear after the Spring Budget expected in March 2012. Taken together the full set of ... more |
| The 2011 Revaluation Order and the challenge to CPI |
| 02/12/2011 |
| The Occupational Pensions (Revaluation) Order 2011 (SI 2011/2867) was published today and comes into force on 1 January 2012 - unusually there was no prior consultation on the figures this year. The Order specifies the percentage by which deferred benefits coming into payment ... more |
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RPI Dec 2011: 239.4 RPI Table |
| CPI for Dec 2011: 121.7 CPI Table |
| TPI for Dec 2011: 4.5 TPI Table |
| AWE for Nov 2011: 141.9 (provisional) AWE Table |
| Standard Lifetime Allowance for 2011 - 2012: £1,800,000 Table |
| Annual Allowance for 2011 - 2012: £50,000 Table |
| Earnings cap for 2011 - 2012: £129,600 Table |
| LEL for 2011 - 2012: £5,304 p.a. UEL for 2011 - 2012: £42,475 p.a. Table |
| LPI from Jan 2012: 5.0% LPI Table |
| Increase to post-1988 GMPs in payment for 2011/ 2012: 3% Table |
| Basic State Pension for 2011 - 2012: Single £5,311.80 p.a. Married £8,494.20 p.a. BSRP Table |
| more pensions statistics |
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