Policy News Journal - 2016-17

The Chartered Institute of Payroll Professionals ……………………………………………………………Policy News Journal

Pensions Industry Stakeholder Forum minutes ................................................................................................512 Consultation on introducing a Pensions Advice Allowance...............................................................................512 New ‘trace a lost pension’ tool launched...........................................................................................................513 Pensions Dashboard prototype to be ready by spring 2017 .............................................................................513 Pensions industry sets out top 5 priorities for new Under Secretary.................................................................514 Pensions Ombudsman update .........................................................................................................................515 New Retirment Quality Mark launched .............................................................................................................515 Pension schemes newsletter 81 .......................................................................................................................516 Pensions annual allowance tax calculator ........................................................................................................517 Are Defined Benefit schemes in crisis? ............................................................................................................517 Countdown bulletin 20 - October 2016 .............................................................................................................517 Review of the State Pension age......................................................................................................................518 Flexible Payments taken from Pensions savings..............................................................................................518 TPR seeks redress for 20,000 BHS pension scheme members.......................................................................519 Pension schemes newsletter 82 .......................................................................................................................519 The Registered Pension Schemes (Provision of Information) (Amendment No. 2) Regulations 2016 .............520 Scrap the state pension triple-lock, says Committee ........................................................................................520 Early exit charges for pensions capped at 1%..................................................................................................521 Over 1.5 million personal State Pension forecasts requested ..........................................................................522 More steps required to simplify pensions tax system .......................................................................................522 Concerned about a pension scheme? Let TPR know.......................................................................................523 Pension contributions need to increase to at least 12% ...................................................................................524 Reducing the money purchase annual allowance ............................................................................................524 Free comparison site for payroll software .........................................................................................................525 Pension tax for overseas pensions...................................................................................................................526 HMRC pension schemes reconciliation services – closure scan ......................................................................526 Changes to tax treatment of foreign pension regimes ......................................................................................527 Consultation on pension scams........................................................................................................................528 Pension schemes newsletter 83 .......................................................................................................................528 Cost of running a defined benefit scheme up by 37% year on year..................................................................529 Employers invited to give the gift of pensions education this Christmas...........................................................529 Pensions Industry Stakeholder Forum minutes ................................................................................................530 Reminder about the SA deadline for declaring annual allowance tax charges .................................................530 Pensions accolades in the New Year Honours list ...........................................................................................530 New GOV.UK content on Overseas Pension Schemes....................................................................................531 Countdown Bulletin 22 – January 2017 ............................................................................................................531 Automated pension data sees 76% reduction in number of payroll reports ......................................................531 Treasure hunt for UK’s lost pensions................................................................................................................532 Half of UK adults want to retire by age 61 ........................................................................................................533 Pension providers help to fund dashboard prototype .......................................................................................533 One in five of those with multiple pensions has lost track of their savings........................................................534 Over £9.2 billion released by pension freedoms...............................................................................................534 Registered Pension Schemes Relief at Source ................................................................................................535 Pension schemes newsletter 84 .......................................................................................................................535 Lump sum death benefits - information requirements.......................................................................................536 New record-keeping guide from The Pensions Regulator ................................................................................536 Countdown Bulletin 23 – February 2017 ..........................................................................................................536 Tax-free Pension Advice Allowance .................................................................................................................537 QROPS Online Service closing in April 2017 ...................................................................................................538 Warning - NEST scam emails...........................................................................................................................538 State pension forecasts may be wrong.............................................................................................................538 Consultation on security and sustainability of defined benefit pensions ...........................................................539 Pension scam tactics revealed by FCA ............................................................................................................540 Recognised overseas pension schemes notification list...................................................................................541 Communication on automatic enrolment needs improvement ..........................................................................541 Pension schemes newsletter 85 .......................................................................................................................542 Reducing the Money Purchase Annual Allowance – consultation response ....................................................542 Tax exemption on employer provided pension advice ......................................................................................542 State Pension Age should increase and employers should have elder care policies in place ..........................543 Countdown Bulletin 24 - March 2017................................................................................................................544 PLSA launches LGPS Employer Guide outlining best practice ........................................................................544 Pensions Dashboard prototype delivers on its promises ..................................................................................544 FAQs on Foreign Pensions...............................................................................................................................545 Recognised overseas pension schemes (ROPS) notification list .....................................................................545 Student Loans ................................................................................................. 547 Student loan repayments: guidance for employers...........................................................................................547

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