Budget 2020

The chancellor missed an opportunity to be bold on reforming the pensions tax relief system, say Hadassah Shulman and Angela Sharma.

This week’s top stories include Aon’s $30bn purchase of Willis Towers Watson, and the tapered annual allowance thresholds increasing by £90,000.

There is “no across the board good scenario for pension schemes” in the reforms to the Retail Prices Index (RPI) proposed by the Treasury, according to Isio actuary John Hodgson.

The government has launched consultations on overhauling the Retail Prices Index (RPI) methodology and addressing the net-pay anomaly.

The government has confirmed it has increased the National Insurance (NI) threshold from £8,632 to £9,500 from April.

First budget of this parliament

The government will raise the two tapered annual allowance thresholds by £90,000 in a bid to reduce the tax impact on high-earning NHS staff.

The government has launched a review into the UK funds regime in a bid to ensure the ongoing competitiveness and sustainability of the sector.

The Bank of England (BoE) has implemented an emergency cut in interest rates by 50 basis points in an attempt to stave off the “economic shock” of the coronavirus.