From 6 April 2024 the free-standing tax charge that applies to authorised surplus payments to sponsoring employers of a registered defined benefit pension scheme will reduce from 35 percent to 25 percent. Companies which have previously been using the 35 percent rate in their financial statements to...
Are you up to date with the latest pension rule changes? 22 April 2024 in Planning ahead, Retirement & pensions, Wealth/financial planning Saving in a pension is one of the most tax-efficient ways to invest for your future. But to many people, pension rules seem like a minefield – ...
marking the first month-over-month increase in the discount rate since April 2024,” said Ned McGuire, managing director at Wilshire, in a statement. “Corporate bond yields, which are used to value corporate pension liabilities, are estimated to have increased by approximately 40 ...
The UK state pension is governed by the “triple lock” policy, which guarantees that pensions will rise annually by the highest of three figures: 2.5%, average wage growth, or the September inflation rate. Given that wage growth has recently been higher than inflat...
Kim is currently employed at an annual salary of £200,000. Kim will continue to earn the same salary until she retires on 5 April 2024, at which point her income will reduce to annual pension income of £55,000. Kim has the opportunity to undertake £40,000 of work on a freelan...
Now that Spring has sprung, early April 2024 sees the introduction of a number of important changes to employment laws in the UK. In summary, these include: Expansion of the existing right to request flexible working New rules for the calculation of h
After your initial first three months as a new joiner, you can then change your level of contributions every April. All the necessary information and documents will be sent to you after 4 to 6 weeks of joining the company Your pension contributions are made under a salary sacrifi...
The pension lifetime allowance was a tax charge that was payable if your combined pension benefits exceeded a certain amount but was abolished in April 2024. Instead, lump sum allowances have been introduced. For most people, the ‘lump sum allowance’ related to the benefits you take from yo...
UK pension funds lost £425bn in year of bond market crisis Schemes registered a new quarter drop in asset value in 2022 driven by mini-Budget turmoil, finds Pensions Regulator January 18 2024 Caxton Associates LP Hedge fund Caxton suffers in choppy year for bond markets ...
UK Treasury set for £100mn windfall from nationalised banks’ pension funds Government took over Bradford & Bingley and Northern Rock during 2008 financial crisis August 6 2023 Philip Stephens What Britain can learn from its polluted waterways ...