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18 December 2014

PPF levy – fully baked at last?

By Julia Dickson The PPF has provided an early Christmas present with its final consultation update, with a few tweaks to finalise the treatment of ABCs, exemption of mortgage charges and calculations using employee numbers in calculating PPF levy charges for 15/16. So at this stage, more like the icing...

03 December 2014

#AS 2014 – PwC comments on new state pension amount

Raj Mody, head of pensions consulting The Government has announced that the new state pension will be at least £151.25 per week, with the actual amount to be confirmed this time next year. While it's interesting to know the minimum level of the new single tier state pension, it matters...

#AS 2014 – PwC comments on changes to joint-life annuities

By Raj Mody Raj Mody, head of pensions consulting at PwC commenting on the tax changes to joint-life annuities when they are passed on to a spouse after death; The abolition of the death tax on joint-life annuities will boost the attractiveness of annuities and level the playing field with...

21 November 2014

The new UK pension rules could be great for individuals but are a real headache for others

By Chris Bulleyment So pensions are in vogue again, the media tell us. And with groundbreaking changes being introduced to the UK pensions regime from next Spring, that is a fair assumption to make. We are going to see more people using their pension plans as a flexible and tax...

17 November 2014

Changing routes for investigating the buyout market

By Ben Stone Since the launch of Skyval Insure three weeks ago, we have seen unprecedented market interest in this new and unique proposition which provides scheme-specific initial buyout pricing direct from insurers within days. As with any ground-breaking innovation, imitation can often be the best form of flattery. It...

03 November 2014

Your chance to take part in our pensions scheme funding survey 2014

By Alison Fleming Scheme funding approaches have been the subject of much discussion in recent months following the Pensions Regulator's new scheme funding code of practice issued in June. This highlights the importance of implementing an integrated approach to understanding and managing risks across the three key “strands” of covenant,...

10 October 2014

The new PPF levy – how much is it going to cost you?

By Julia Dickson The PPF’s consultation update on the 15/16 levy, published earlier this week provided more clarity in how PPF levy will be calculated, but confirmed for definite a few key areas that employers need to be aware of in managing their 15/16 PPF levy bill. There remain outstanding...

29 September 2014

The No Vote – impact on Asset Backed Contributions

By Deborah Cane Over the last few years ABCs (Asset Backed Contributions) have been an increasingly popular way for employers to fund their schemes. These investments involve the sponsoring employer using business assets to secure cash which is paid to the pension scheme. Over 60 ABCs have been put in...

19 September 2014

A step in the right direction for pension funding - PPF may recognise ABCs that have a proper valuation behind them

By Deborah Cane I was very pleased to read in Professional Pensions recently that the Pensions Protection Fund (PPF) are expected to recognise a wider class of Asset Backed Contributions (ABCs) (those that have proper third party valuations behind them) and see this is a further endorsement to companies that...

28 July 2014

Can guidance really address the big retirement question?

By Philip Smith and Tim Sexton The Chancellors’ budget reforms have ushered in a new era for defined contribution (DC) pension savers. Suddenly, pensions have become attractive and flexible tax efficient savings vehicles freed from their previous shackles. We are finally to be trusted with managing our own savings –...