Treasury

Chancellor Rishi Sunak has confirmed a salary top-up scheme designed to minimise job losses over the next six months will be introduced on 1November as tighter Covid-19 restrictions remain in place.

With rumours once again swirling around the future of pensions tax relief in the run up to this year's Budget, any reduced incentive for long-term savers could risk further exacerbating the generational divide in pensions, says Tom Selby

The industry has raised serious concerns that Financial Conduct Authority (FCA) transfer advice proposals on illustrative figures could hamper schemes’ ability to help members to understand their retirement options and force many to take full regulated...

The government has confirmed the minimum pension age will rise from 55 to 57 by 2028 to coincide with the rise in the state pension age to 67.

Potential changes to the way the Retail Prices Index (RPI) is calculated and reported could cause assets to fall by between £60bn and £130bn, according to various estimates.

This week’s top stories included auditor KPMG confirming it is considering reducing pension contributions for 20% of staff amid the ongoing impacts of the coronavirus pandemic. Also, MPs hit out at HM Revenue & Customs over the benefits of pensions tax...

The Treasury has published draft tax legislation to enable collective defined contribution (CDC) schemes from next year.

The government has admitted it has never provided a “straightforward and proportionate” solution to the challenges in the current pensions tax relief system in a call for evidence this morning (21 July).

HM Revenue & Customs (HMRC) must evaluate the benefits that are provided by pensions tax relief, MPs have said amid concerns the tax office does not understand the impacts.

HM Treasury has announced it will resume the cost control mechanism for public sector pension schemes, noting the concern that the 18-month suspension has caused.