Retirement

IFAs hoping to do more business out of the emphasis on advice through the workplace contained in the new Pensions Bill would be wise to also acknowledge the tough methods the new pensions regulator may resort to in order to ensure schemes under its guidance...

Initial analysis of the Pensions Bill suggests the Department of Work and Pensions "forgot" to compare notes with the Inland Revenue as its latest proposal includes a rule, which will be abolished under simplification proposals being introduced next year....

IFAs should find considerable business opportunities in the details of the Pensions Bill relevant to responsibilities of employers to provide information on and access to occupational pensions.

Government proposals to charge employers a risk-based fee when introducing the Pension Protection Fund could open loopholes for weaker companies who want to avoid the extra levy, according to industry experts.

A raft of new powers will be given to the proposed new pensions regulator outlined in the Pensions Bill, provide more security to occupational schemes and their members by taking a more proactive approach to regulation.

A closer inspection of the powers of the new pensions regulator reveals employer costs may not be the only issues to consider regarding the Pension Protection Fund (PPF).

Pension funds will be given space to strike a balance between long-term liabilities and assets and a new "flexible" pensions regulator is being introduced, according to the Pensions Bill just released by the DWP.

People could receive a lump sum worth up to £30,000 if they defer taking of State pension benefits for at least five years, says the DWP, or around 7.5% extra for every year they delay claiming.

Employers with high-risk schemes will have to pay a higher levy if they want to reap the benefits of the proposed Pension Protection Fund (PPF), but not until the second year the legislation is in effect, says Andrew Smith MP, Secretary of State for work...

The new Bill introduced by the Department for Work and Pensions today has several flaws which undermine commitments to simplicity and security into long-term savings, the Conservative Party says in a statement just released.