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Plan news Tax & Legislation Image of GMP equalisation and retirement options update

GMP equalisation and retirement options update

11 Oct 2024
We recently provided an update about GMP equalisation and some new retirement options that were to be made available to you.
Plan news Funding Investment Tax & Legislation Trustee Image of Discretionary increases

Discretionary increases

10 Jun 2024
Depending on your communication preference, we recently sent to you either an email or letter about Discretionary increases within the Plan. A copy of the content from this is shown here. 
Tax & Legislation Image of Lifetime Allowance changes explained

Lifetime Allowance changes explained

22 Apr 2024
Since 2006, pension savings have been subject to a Lifetime Allowance (LTA), which placed a limit on the overall value you can build up across all your pensions before having to pay additional tax.
Tax & Legislation Image of Update on the Lifetime Allowance

Update on the Lifetime Allowance

21 Feb 2024
Since 2006, pension savings have been subject to a Lifetime Allowance (LTA), which places a limit on the overall value you can build up across all your pensions before having to pay additional tax. For the 2022/23 tax year, the LTA stood at £1,073,000. 
Tax & Legislation Image of Pension updates from the Autumn Statement

Pension updates from the Autumn Statement

04 Jan 2024
On 22 November 2023, Chancellor Jeremy Hunt delivered his Autumn Statement, setting out the Government’s key commitments and objectives for the UK economy. The announcement contained some measures that could affect your pension planning.
Plan news Tax & Legislation Image of GMP Equalisation update and new benefit options

GMP Equalisation update and new benefit options

01 Jul 2023
If you’re currently receiving a pension from the Plan, you should have received a pack through the post relating to Guaranteed Minimum Pension (GMP) Equalisation.
Tax & Legislation Image of What does the Spring Budget mean for your pension?

What does the Spring Budget mean for your pension?

17 Mar 2023
On Wednesday 15th March 2023, Chancellor Jeremy Hunt delivered his Spring Budget, which included the biggest shake-up in the taxation of pensions for over a decade. The Annual Allowance is being increased by 50% and there are plans to abolish the Lifetime Allowance altogether.
Tax & Legislation Image of State Pension Increase information

State Pension Increase information

01 Jul 2022
The State Pension increased by 3.1% at the start of April 2022. For those who reached the State Pension age after April 2016, this means a rise in the full State Pension of £5.55 a week, to £185.15.
Plan news Blogs & Podcasts Tax & Legislation Image of Welcome to our first Trustee blog of 2022

Welcome to our first Trustee blog of 2022

16 Feb 2022
As a Trustee Board, we’ll be posting regular blogs throughout the year to keep you up to date with all the latest news and goings on with the HP Retirement Benefits Plan.  
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