Pension body addresses lump sum concerns

Pension body addresses lump sum concerns

Reassurances are being sought from the government that future pension policy will not mean the end of tax-free lump sums.

Link: Pensions and FRS 17

Following growing concerns that the lump sum pension is about to be scrapped in upcoming reforms, National Association of Pension Funds chairman Peter Thompson has written to the Treasury Financial Secretary Ruth Kelly hoping to confirm that this will not be the case.

The government is soon to publish a green paper that will outline future pension policy in the UK.

It has been suggested that the possible scrapping of the tax-free lump sum pension, which offers recipients an amount equivalent to one and a half times their final salary on payment, could discourage people from paying into a pension fund.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource