The pensions industry has fabulous timing. Just when you think everything's slowing down and you can spend an extra 10 minutes trying to crack that sudoku puzzle, somebody somewhere manages to find something new to pick apart.
The industry has recently been busy building up their arguments to the various ongoing consultations on personal accounts, the Thornton Review and scheme abandonment. However, there have been a few interesting little tit-bits to come out which most people tend to gloss over, and one of these is the decision by the government to allow redundancy payments into pensions. There are conditions attached – obviously - as it is only the part of a redundancy payment over the tax-exempt threshold, currently £30,000, which will count as “relevant UK earnings” and therefore be allowed in a pension. ...
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