The government’s objective is for the service to be available to consumers by 2019, and for it to be offered by a range of different providers rather than by a single, central service.
Yvonne Braun, ABI Director of Long-term Savings and Protection Policy, said: “It sounds obvious that in 2017 everyone should have easy online access to all their pension information in one single place of their choice – yet the practicalities of making that happen are very complex. The prototype demonstrates once and for all that the technological hurdles can be overcome. Giving people access to clear information about all their pensions has the potential to revolutionise how they think about saving for their retirement…” HM Treasury is hosting a TechSprint event on April 12th and 13th in conjunction with the ABI and Aviva. Developers and pension experts from over 20 leading technology firms will compete over 24 hours to develop and show-off examples of the potential applications the prototype dashboard system can unlock for consumers.
For anyone interested in finding out more about how the Pensions Dashboard will work, the ABI has a Q&A on their website along with additional useful information.
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Recognised overseas pension schemes notification list 20 April 2017
After a temporary suspension, the recognised overseas pension schemes (ROPS) notification list has been published.
From 6 April 2017 the requirements to be a ROPS changed. The notifications list was suspended on 14 April 2017 and a revised list has now been published.
Administrators now need to check the list to ensure they are transferring to a scheme that appears on the revised list.
Find out more about the changes for ROPS requirements .
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Pension Tax for overseas pensions - additional information 25 April 2017
Additional information has been published for pension providers about the tax changes to Section 615 schemes from 6 April 2017.
This additional information supplements the guidance given in Pension Tax for overseas pensions and includes:
Income from pensions held overseas Lump sums from pensions held overseas Section 615 schemes
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Pension schemes newsletter 86 26 April 2017
HMRC’s latest pension schemes newsletter includes clarification on the contribution of assets to registered pension schemes, known as ‘in specie contributions’.
In specie contributions
The Chartered Institute of Payroll Professionals
Policy News Journal
cipp.org.uk
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