pensions

One in four UK companies say they consider, or would consider, giving employees cash instead of offering a pension, says an international human resources consultancy.

Trustees could find themselves having to foot hefty compensation bills if they fail to ensure they have dealt with ALL the beneficiaries of a SIPP properly, warns SIPPs provider D A Phillips & Co.

Abbey for Intermediaries has developed a pension simplification pack for IFAs in the hopes it will help them ensure clients are well-prepared for coming pensions legislation.

Most trustees of small occupational pension schemes have had no training at all despite pending pension legislation require them to at least be familiar with the issues they deal with, says the Occupational Pensions Regulatory Authority.

The Treasury has today decided to raise the charge cap on stakeholder pension products to 1.5% for the first 10 years they are held, reverting it back to 1% therafter.

The Finance Bill has closed a tax loophole in pending pensions legislation, which could have lump sums paid out without being subject to a tax charge, says Abbey for Intermediaries.

Differences of opinion over the effects of provisions in the Finance Bill by two major providers has highlighted the difficulty of interpreting proposals set out in the legislation.

Government proposals for combined pension statements to enable people to make informed choices will prove "pointless" as information on the Pensions Credit will be excluded, a pension expert suggests.

The government has scrapped the proposed Limited Price Indexation (LPI) on money purchase schemes in order to increase flexibility and make life easier for scheme members.

Members of money purchase schemes could escape having to pay a recovery charge on any funds above the lifetime limit by selecting enhancements which would normally lower the value of an annuity income, says Standard Life.