All State earnings related pension scheme articles
-
NewsDB schemes could face extra costs after High Court judgement
Virgin Media case could render contracting-out changes invalid, if schemes cannot produce a section 37 certificate
-
News
HMRC sets final GMP reconciliation deadline
On the go: HM Revenue & Customs has set July 31 as the final deadline for defined benefit schemes to request their final guaranteed minimum pensions reconciliation data cuts.
-
News
Govt chooses full indexation of GMPs for public sector schemes
The Treasury has decided to abandon the idea of converting guaranteed minimum pension benefits in public sector schemes, opting for a permanent extension of full indexation, which will be more expensive for private pension funds that are forced to mirror government rules.
-
News
DB scheme trustees to revisit thousands of past transfers
On the go: Trustees of defined benefit schemes will have to revisit pension transfers from the past 30 years if the individual had contracting-out benefits, and provide a top-up if necessary.
-
News
DWP still keeping millions in the dark over loss of GMP top ups
Millions of people are still unaware of the loss of a valuable indexed guaranteed minimum pension benefit to their state pension since 2016, as the Department for Work and Pensions still has not complied with a Parliamentary and Health Services Ombudsman ruling to inform the public of this deprivation.
-
News
HMRC to issue GMP final ‘outdated’ data cuts in July
HM Revenue & Customs plans to provide defined benefit schemes with final guaranteed minimum pension data cuts by the end of July, despite confirming that some of this information might be out of date and unreliable for use in rectifying incorrect payments.
-
NewsDWP steps in at Lloyds’ GMP past transfers hearing
Government lawyers have dealt a blow to trustees hoping not to have to apply guaranteed minimum pension equalisation to past transfers, branding the argument from Lloyds Banking Group in a high-profile court case “misconceived”.
-
News
GMP rectification facing further delays after HMRC announcement
The government’s delayed timeline for confirming payments due under guaranteed minimum pensions reconciliation will be published soon, HM Revenue & Customs announced on Thursday, as it attempted to put an end to long-running confusion over partial payments.
-
News
Quarter of a million still inherit spouse's state pension via DWP loophole
On the go: A loophole means some spouses who outlive their partners are eligible to inherit some of their state pension, the Department for Work and Pensions has said, in a revelation that could boost many pensioners' income.
-
Opinion
How DB schemes can offset end of contracting-out costs
From April 2016 a single-tier state pension will be introduced to replace the existing basic state pension and the earnings-related state second pension.
-
News
Webb reveals further detail on guidance guarantee
Pensions minister Steve Webb released this week further details about the upcoming guidance guarantee, with concerns mounting on the timetable for its implementation and the subsequent burden on pension schemes.