Proposed Pension Lifetime Allowance changes: Glasgow Wealth financial adviser Ian Brunton discusses the Lifetime Allowance and the latest proposed changes. As chancellor Rishi Sunak wrestles with the significant task of how to reduce the government deficit, made substantially worse by the measures put in place through the Covid-19 pandemic, it seems clear that he sees […]
The number of individuals transferring out of final salary (defined benefit) pension schemes has reached new highs as evidenced by the reported increase in transfer volumes. Willis Towers Watson – the prominent defined benefit pension administrator – for example reported that pension transfers out of their clients’ schemes had increased by a factor of 500% […]
On 6th April 2016, significant new pension legislation will come into effect that will markedly increase the number of pension savers and scheme members who may be affected by the lifetime allowance (the limit on value that may be saved within a pension scheme without incurring significant capital tax charges). The current allowance of £1.25m […]
