December 2012: Pensions update
An overview of legal issues facing the pensions sector in the new year.
From 2014/15 the annual allowance and the lifetime allowance will be further reduced:
- annual allowance – reduced to £40,000; and
- lifetime allowance – reduced to £1.25m.
Note that this may potentially affect individuals before 6 April 2014, as the reductions apply to pension contributions/accrual in pension input periods (PIPs) which end in 2014–15. So, for example, if the PIP starts on 1 May 2013 and ends on 30 April 2014, the reduced allowances will start to apply from as early as 1 May 2013. Draft provisions are included in the Finance Bill 2013…
If you are registered and logged in to the site, click on the link below to read the rest of the Nabarro briefing. If not, please register or sign in with your details below.
Click on the link above to download briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Analysis from The Lawyer
Nabarro senior partner and self-confessed “IT geek” Graham Stedman is heralding a major set of investments in technology ahead of the firm’s move to 125 London Wall this year.
Clients are more willing to bring claims against professional service providers but the risk to defendants is not as dramatic as it might seem