We are still continuing to work with our advisers to determine the next steps, as are the trustees of many other UK pension schemes. 

The UK tax year ends on 5th April. There are some extra processes that apply to pensions on or around tax year end, triggered by HMRC. We have provided some Frequently Asked Questions (FAQs) below for some of the topics that we often get asked about these.

In the days running up to the Chancellor’s second budget speech on 3 March 2021, there had been the now customary talk of a major overhaul of the tax treatment of pensions but, once again, this failed to materialise. In reality, the only change was the freezing of the standard Lifetime Allowance (LTA) at its...

On 11 February 2021, HM Treasury and HM Revenue and Customs published a consultation paper on increasing the NMPA to 57 with effect from 6 April 2028.

On 11 February 2021, the Pension Schemes Bill received Royal Assent and became the Pension Schemes Act 2021. Whilst it is good news for this particular piece of legislation to finally make it ‘over the line’, a great deal of the detail of the provisions which it contains will be set out in secondary legislation...

The Pension Schemes Bill (the Bill) went through the ‘consideration of amendments’ stage in Parliament on 19 January 2021. When a bill has passed through its third reading in both Houses of Parliament, it is returned to the first House where it started life (the Lords, in the case of this Bill) for any amendments...

The Pension Protection Fund (PPF) has joined forces with six other pension bodies to produce a new guide to explain how your pension is protected and how to avoid scams during the COVID-19 pandemic. 

As the impact of the coronavirus is felt across the UK, we want to reassure members that looking after their pension is the Trustee’s top priority. We have been working with all our advisers to understand what plans they have in place to mitigate the potential impact on their staff levels. We are confident the...

From 6 April 2020, the State Pension, for those who reached their State Pension Age on or after 6 April 2016 will rise by 3.9% to £175.20 a week (£9,110.40 a year).