On the go: At least 34 per cent of all people who exceeded the annual pension contribution allowance in 2019-20 were members of the NHS pension scheme.
Latest articles from Sonia Rach
Schemes and providers team up to push pensions engagement
On the go: Around 15 pension providers and schemes representing approximately 41.5mn savers and customers have committed to support a campaign to encourage engagement with pensions.
Platform launches pensions dashboard sandbox
On the go: Pensions Dashboards Programme partner Moneyhub has launched an interactive sandbox to show how the pensions dashboards could potentially work.
FCA plans £71mn redress scheme for former British Steel members
On the go: The Financial Conduct Authority has set out plans to deliver £71.2mn in compensation to former members of the British Steel Pension Scheme who received unsuitable advice to transfer out of their pension.
Pension receipts to reach £1.7bn amid rise in cost of living
On the go: The Office for Budget Responsibility has revised its forecast of tax paid when people access their pension funds, expecting it to reach £1.7bn in 2021-22.
BSPS members’ compensation falls short by £18mn, NAO finds
Compensation for members of the British Steel Pension Scheme has fallen short by £18mn, according to a report by the National Audit Office, which warned that the risk of large numbers of savers looking to transfer out of a defined benefit pension still remains.
Anti-scam rules result in 500 safeguarding interviews to date
On the go: Nearly 500 people have so far completed a pensions safeguarding guidance interview since new anti-scam rules were introduced at the end of November 2021.
Regulators need advice and guidance take-up targets
On the go: Conservative MP Nigel Mills has argued that the government needs to set a target or benchmark on what the level of take-up of advice and guidance needs to be for pension savers.
AE reform unlikely to get through in time for Queen’s Speech
On the go: Pensions minister Guy Opperman has said the auto-enrolment reform bill will not get through in time for the Queen’s Speech in May.
Pension rules extended to October for returning NHS staff
On the go: The government has extended its relaxation of pension rules by seven months for NHS staff returning to work so they are not hit by reduced pension payments.