The Government is facing growing pressure to expand its automatic enrolment reforms. Conservative MP Richard Holden expected to use a Private Members’ bill today to urge policymakers to: – Lower the age… The post Expanding automatic enrolment to young and low earners ‘could boost pension savings by £2.8 trillion’ appeared first on London Business News | Londonlovesbusiness.com.
Mercer forecasts combined bulk annuities, longevity swaps and new risk transfer solutions to reach £60bn during 2022. The growth is expected to be driven by a variety of factors, including… The post Mercer forecasts UK risk transfer activity to hit £60bn in 2022 appeared first on London Business News | Londonlovesbusiness.com.
The Association of Investment Companies (AIC)has welcomed a consultation launched today by the Department of Work and Pensions (DWP) on removing performance fees from the charge cap that applies to… The post Government’s pension charge cap welcomed by investors appeared first on London Business News | Londonlovesbusiness.com.
The Pensions Regulator (TPR) has today published guidance helping trustees understand their new powers to halt suspicious transfers. The regulations, arising from the Pension Schemes Act 2021, introduce a system… The post New regulations empower trustees to halt suspicious transfers appeared first on London Business News | Londonlovesbusiness.com.
The House of Lords has voted 220 to 178 in favour of retaining the state pension triple-lock next year. Amendment backs using an adjusted earnings measure “to take account of… The post Pensioners shouldn’t hold their breath despite House of Lords triple-lock axe defeat appeared first on London Business News | Londonlovesbusiness.com.
New figures from HMRC reveal £794 million has now been repaid to people overtaxed on retirement withdrawals since the pension freedoms were introduced in April 2015. Between July and September… The post Pension freedoms overtaxation approaches £800 million appeared first on London Business News | Londonlovesbusiness.com.
The Department for Work and Pensions (DWP) has confirmed new rules simplifying disclosures for workplace pension schemes will come into force in October 2022. Reformed two-page annual statements for automatic… The post Government to bring forward simpler pension statements in 2022 appeared first on London Business News | Londonlovesbusiness.com.
Mercer’s Pensions Risk Survey data shows that the accounting deficit of defined benefit (DB) pension schemes and other post-retirement benefit plans for the UK’s 350 largest listed companies rose by… The post FTSE 350 pension scheme deficits increase slightly in a volatile month appeared first on London Business News | Londonlovesbusiness.com.
Self-employed pension savings levels hit record lows in 2019/20, HMRC figures suggest. Self-employed workers contributed £830 million to pensions during the year, down from over £1 billion in 2018/19. Falling… The post Self-employed pension saving hits record low appeared first on London Business News | Londonlovesbusiness.com.
The gross cost of pension tax relief hit £41.3 billion in 2019/20, up from £38.2 billion a year earlier, new HMRC figures published show. Tax paid on pension incomes increased… The post Pension tax relief ‘cost’ passes £41 billion as automatic enrolment drives up contributions appeared first on London Business News | Londonlovesbusiness.com.
