The recently published Finance Bill confirmed an increase in the minimum pension age to 57 from April 2028. However there could be changes between the Finance Bill becoming the Finance Act. Individuals do not have the ability to protect a retirement age of 55. However schemes that had the right to take benefits at 55 in their […]
Since the first lockdown parts of the economy and businesses have been suffering hardship and unfortunately the recent lockdown has not helped. Who knows what is around the corner with the forthcoming regional tiered lockdown? To date there has been some help from government with the initial furlough scheme covering some wages and employer pension […]
We have received an increasing number of questions regarding the Chair’s statement for trust based Occupational Pension Scheme. Below are brief answers to some of those initial questions. It is not designed as an exhaustive briefing document and for further detailed information and specific advice please contact us on 01883 332260. Who has to comply? Trustees of Trust […]
It’s surprising that given the number of changes that have been made to UK pensions in the last 18 months, there are still so many people still do not know what Pension Wise is, who it’s for, or what it does. Pension Wise is the Government’s free, impartial retirement guidance service that’s open to everyone […]
Many firms offer an employer contribution, some require an employee to make a contribution of their own volition, but most do wish to pass on the monetary value of this pension contribution if an employee refuses to join the pension scheme. However, changes to pension legislation, and in particular the imminent reduction in tax efficient allowances, means that many […]
Basic rate tax relief is automatically added to any personal pension contributions you make from your net pay at the point the contributions are invested into your pension account.