Pensions

Insight / Pensions sector losing £6bn annually to fraud

The pensions sector is losing £6bn a year to fraud with private pensions most at risk from investment and payment scams 

Insight / Regulator plans shake-up of defined benefit pensions

The Pensions Regulator (TPR) is consulting on changes to its code of practice for defined benefit (DB) funding, which will see a new twin-track compliance approach to valuations and create a clear benchmark

Insight / KPMG sells off pensions advisory arm

KPMG has completed the sale of its former pensions advisory practice, marking one of the first major steps by a Big Four firm to separate out non-audit work

Insight / Pensions regulator backs down on trustee requirements

The Pensions Regulator (TPR) has watered down plans to require pension scheme boards to engage a professional trustee in order to drive up standards, in the light of responses to its consultation on the future of trusteeship and governance

Tax / Q&A: deferred state pension and tax liability

In our regular Q&A series from Croner Taxwise, tax adviser, Julian Payne explores the implications of income tax when drawing money from a deferred state pension

Insight / Regulator fines FCA over pension compliance failure

The Financial Conduct Authority (FCA) has suffered the embarrassment of being fined by The Pensions Regulator (TPR) over deficiencies in the paperwork relating to its pension scheme

Insight / Accountant fined for pension enrolment failure

A former accountant accused of misleading The Pensions Regulator (TPR) after he failed to enrol a client’s staff into a pension has been ordered to pay £4,987

Insight / Ex-BHS owner owes pension scheme £9.5m

Following a lengthy legal battle with the regulator, entrepreneur Dominic Chappell has been ordered to pay £9.5m into two pensions schemes connected to the collapsed high street chain BHS, which he bought for £1 in 2015

Insight / Pension scammers hide behind QROPS verification

Pension savers are calling for HMRC to clamp down on scammers that are using recognition under HMRC’s Qualifying Recognised Overseas Pension Scheme (QROPS) to target nest eggs

Tax / HMRC faces 460k requests for income tax refunds

Around 460,000 people chased HMRC for refunds on overpaid income tax in the year 2018/19, according to an FOI request by insurance company, Royal London

Insight / Hancock NHS pension plan could be 'tax avoidance'

The government has signed off on a change to pension tax rules for NHS high earners which ‘could constitute tax avoidance’

Insight / Regulator fines nursery over pension scheme failings

A court has ordered a pre-school nursery and its main director to pay £8,200 for failing to comply with their pension duties

Tax / NHS could pay doctors pension tax ahead of hectic winter

Doctors have been promised their tax bills for higher rate pension relief could be covered by the NHS in efforts to get them working overtime shifts

Insight / Gig workers lose out on pension savings

The growth in the gig economy and the lack of flexible schemes for younger pension savers is creating a pension black hole as more workers fall outside auto enrolment 

Tax / Pension tax pitfalls - lifetime and annual allowances

Staying on top of the pensions tax rules is an important part of managing a pension. But the provisions can be disconcertingly complex. Karen Goldschmidt, partner at LCP, unpicks some of the tax complexity surrounding the annual and lifetime allowances
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