ABI and NEST agree partnership deal 26 November 2018
The Association of British Insurers (ABI) and National Employment Savings Trust (NEST) have announced a partnership, boosting the relationship between the UK’s leading insurance and long-term savings trade body and the Government-established workplace pension scheme. The two organisations have already been working together on key issues affecting the long-term savings industry, including the development of automatic enrolment and the pensions dashboard. This arrangement is very similar to the ABI’s partnership with flood reinsurance scheme FloodRe. NEST was established by the Government as part of their sweeping automatic enrolment reforms of the Pensions Act 2008. NEST have a public service obligation to ensure employers of any size can meet their workplace pension duties, and was set up to complement the existing long-term savings industry.
NEST now has more than 7 million members across 700,000 employers, and shares the purpose of the ABI’s long- term savings members to deliver good customer outcomes for pension savers.
Read the full press release from ABI.
Back to Contents
Pension schemes newsletter 105 – November 2018 27 November 2018
HMRC’s latest pension schemes newsletter includes a joint HMRC/Pensions Regulator article which covers issues around pensions tax relief and what to do if you think any pension scheme members have been given the wrong amount of tax relief.
HMRC has said that it plans to publish another newsletter on relief at source in early December 2018 to provide an update on its work in this area.
Pension schemes newsletter 105 also includes articles on:
• Double Taxation – bulk requests for certificates of residence • Overseas transfer charge - draft regulations • Manage and Register Pension Schemes service - newsletter • Reporting of non-taxable death benefits
Back to Contents
Countdown bulletin 39 – November 2018 27 November 2018
The countdown bulletin provides important guidance and information to pension scheme administrators about the end of contracting-out, which although came to an end in April 2016 schemes are still submitting termination and transfer notices with end dates on or after 6 April 2016.
Countdown bulletin 39 contains updates on:
• Scheme Financial Reconciliation • Scheme cessation • Scheme reconciliation service
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 543 of 598
Made with FlippingBook - Online magazine maker