Retirement

Liberal Democrat proposals to scrap pension tax relief for higher-rate taxpayers have been condemned by the pensions industry.

Pension officials say current government proposals for pension personal accounts auto-enrolment are likely to increase administration costs but still will not reach the main target market.

The National Association of Pension Funds (NAPF) has reiterated its warning the potential impact of government pensions reforms may lead to employers cutting back their contributions to occupational pension schemes.

Being relatively new to the pensions game, I have to admit I was expecting summer to be nice and relaxing, as with parliament in recess I thought news emerging would be limited.

While the government does its best to decide whether it is ‘naïve or misleading', as suggested in the Public Administration Select Committee's report, the question outstanding is how will this affect personal accounts?

Some life offices are attempting to provide clients with a way of 'having their cake and eating it' when it comes to taking tax-free cash.

Pensions reporting under International Financial Reporting Standards should be explained more simply with more disclosure of the uncertainties around accounting estimates.

Companies in the FTSE 100 are on track to clear their pension deficits by 2012, claims Lane Clark & Peacock.

Employers plan to take advice from IFAs as well as the government and industry bodies when implementing new personal accounts.

A misunderstanding of the way tax free cash can be taken from a pension could cost customers a tax charge of up to 70%.