Introduction of personalised tax protection 2014 in relation to pension savings
For the tax year from 6 April 2014, the standard lifetime allowance (i.e. the total amount of tax-free pension savings that can be built up by a member in a registered pension scheme) has reduced from £1.5m to £1.25m. However, it was possible for individuals to protect their pension savings between £1.25m and £1.5m from the lifetime allowance charge by applying for Fixed Protection 2014. The deadline for applying for Fixed Protection 2014 was 5 April 2014…
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One of the areas highlighted last year by the Regulator was the regulation of workplace DC pension schemes.
Regulator issues tools for assessment of an annual governance statement in relation to occupational DC pension schemes
Last year, the Pensions Regulator formally launched a governance framework for occupational DC pension schemes.
Analysis from The Lawyer
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