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Pensions – Protection of members’
As you may remember on 6 April 2006 (A-Day), pensions legislation was supposedly ‘simplified’!
One of the changes made was to the calculation of the amount a member could take as a tax free cash sum at retirement – now called the pension commencement lump sum (PCLS).
For defined contribution schemes, the …
Budget 2012
George Osborne might have left pensions tax relief, tax-free lump sums and the Annual Allowance unchanged in his budget but there are a number of issues, confirmed in policy documents (if not in the Chancellor’s speech) that it is worth being aware of.
The rules around Annual Allowance, asset-backed contributions (to …
Pensions – Warnings & Reminders
Warning against ‘pensions unlocking’ or ‘pensions liberation’
The Pensions Regulator, the Financial Services Authority (FSA) and HM Revenue and Customs (HMRC) are warning members and trustees about companies offering people the opportunity to get cash out of their pension schemes before they reach age 55.
There has been an increase in these …
Helm Godfrey responds to Pensions Regulator comments
Steve Wood, Helm Godfrey Head of Projects, who is leading the company’s auto-enrolment proposition, comments on reports that Bill Galvin, chief executive of the Pensions Regulator, has said that DC pension schemes with less than 1,000 members may be unable to deliver fair outcomes for members.
“I find this an amazing …
Read ‘Helm Godfrey responds to Pensions Regulator comments’ »
Pensions – New Employer Duties start from October this year
After much discussion, consultation, legislation, draft regulation, detailed guidance, further consultation and subsequent amendments, the new requirements for employers to make compulsory pension provision for employees are due to come into force later this year. Although many details are still to be confirmed, the Government has now announced clarification of …
Read ‘Pensions – New Employer Duties start from October this year’ »


