The basis for calculating the PPF levy has changed. Invoices for 2012/13 on the new basis are now being issued. This Update provides background to the changes and how you can check whether your levy is correct.
INCENTIVE EXERCISES - CODE OF GOOD PRACTICE AND tPR STATEMENT (August 2012)
With employer-driven incentive exercises continuing as employers seek to reduce pension liabiliites and costs, examples of poorly managed and communicated exercises continue to be seen. An Industry Working Group has published a voluntary Code of Good Practice, leading to a revised Statement from the Pensions Regulator focused on its principles and views.
2012/13 PPF LEVY: THE IMPORTANCE OF ACCURATE ASSET INFORMATION (Nov 2011)
The Pension Protection Fund has just concluded its consultation on the fine details of its new approach to levy calculations. Designed to result in more stable levies, it is undoubtedly more complex than before.
NEW LIFETIME ALLOWANCE - NEW FORM OF PROTECTION (Oct 2011)
As if 'pension simplification' in 2006 was not enough, further changes to the taxation of pension savings are being introduced from next year. Are you and your employees aware of these, and what action may need to be taken? Don't miss the deadline for protection
In future minimum levels of pension increases under occupational pension schemes are to be based on the CPI rather than the RPI. For schemes which apply the minimum level of increases (or which can be amended to do so) this will mean a reduction in Scheme liabilities and hence an improvement in funding.