your working life. Consulting a professional financial adviser to ensure that retirement financial plans are on track is a sensible route for many…”
Read the full press release from Prudential .
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Pension schemes newsletter 88 - June 2017 4 July 2017
HMRC’s Pension schemes newsletter 88 contains updates and guidance on pension schemes.
The newsletter includes important information about relief at source for Scottish Income Tax:
Residency tax status look up service for pension scheme administrators Amendments to APSS105 and APSS106 Secure Data Exchange Service (SDES) enrolment Rate applying for the whole year.
The newsletter also has information on:
Contacting Pension Schemes Services Annual return of individual information Pension scheme transfers APSS262 reporting transfers to qualifying recognised overseas pension schemes Lifetime allowance.
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Government should be ambitious about improving pensions saving system 5 July 2017
In his speech to the conference Gauke applauded their contributions to Government thinking on the future State Pension age. Their work, he believes, represents “exactly the sort of longer-term approach I want to cultivate within my department, and across wider government”.
“I know, all too well, that pensions reform is a long term game. We need a well thought-out approach, built on a solid evidence base…
…We should be ambitious about improving our pensions saving system.
We’ve already had some notable successes where government and industry have collaborated to achieve positive outcomes for both consumers and pension providers.
A good example is the new prototype of the Pensions Dashboard. We believe this tool has genuine potential for making our financial lives much simpler.
The dashboard presents a clear picture of all a person’s pension entitlement in one secure online location, and will make it easier for savers to plan ahead.
A cross-section of the industry worked with us to develop the working prototype. The successful demonstration of the prototype last April showed the feasibility of providing information from different pensions schemes in one place, and was met with enthusiasm by technology start-ups, financial advisors and the media. Such a tool would encourage people to properly consider their retirement arrangements earlier in their working lives, and could help savers reconnect with an estimated £400 million in lost pensions accruement – something which we’d all like to encourage.”
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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