April 29th, 2009
Please get in touch for full details of how the Budget may impact you, in the meantime please read our quick guide to the key points:
1. Higher rate tax relief on pensions
Whilst much has already been written on this topic, it will not impact upon the vast majority of individuals.
Does your total income exceed £150,000 pa? If not, there is no change for you.
If your total income does exceed £150,000 pa but your pension contributions amount to less than £20,000 pa, there is still no impact on you.
Only if your total income exceeds £150,000 pa and your pension contributions amount to more than £20,000 pa will new restrictions apply (see below).
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Posted in individuals |
April 6th, 2009
Are you sure your defined contribution company pension scheme is well run?
Would you be able to prove that to The Pensions Regulator?
The Pensions Regulator has published a guidance paper for employers operating ‘defined contribution’ pensions schemes. At this stage, the guidance serves to promote best practice but The Pensions Regulator does have a range of powers to intervene where there is significant or systematic poor practice that impacts on members’ benefits.
All schemes which have not been formally reviewed against what the market now offers for sometime could find that improvements could be made which will not just comply with The Pensions Regulator’s best practice – but which should make the scheme easier to run and more likely to provide its members with the opportunity to generate a meaningful level of income in retirement.
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Posted in business |
