All HM Treasury articles
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In DepthIn Depth: Rachel Reeves faces difficult Budget balancing act
Experts warn the government may be weighing up reforms to pensions taxation, with each option carrying major implications for savers and the Treasury alike. Sara Benwell reports on the various rumours and how they might be received.
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NewsGovernment to announce DB surplus extraction rules in the spring
The government has confirmed plans to relax rules around defined benefit pension scheme surpluses, paving the way for excess funds to be paid out to members or employers.
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NewsChancellor expected to loosen rules on DB surpluses [updated]
Long-awaited changes to defined benefit scheme surplus rules will be announced this week.
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NewsMineworkers to receive 32% pension bonus
Members of the Mineworkers’ Pension Scheme will receive a bonus payment of almost a third of their regular pension income after the government confirmed it will transfer a reserve fund’s assets to the trustees.
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NewsPensions, savings and inflation expected to be addressed in Chancellor's Autumn Statement
The government has confirmed this year’s Autumn Statement will take place on 22 November, and has pledged to halve inflation by the end of the year.
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NewsGovernment dodges PAC demands claiming they are ‘policy matters’
The government has rejected recommendations made by Parliament’s Public Accounts Committee that it should review the indexation of the Pension Protection Fund (PPF) and initiate an independent review of AEAT members’ complaints.
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NewsThe next step towards a superfund regime
The Pensions Regulator (TPR) has published revised superfund guidance following government plans to legislate the consolidation schemes.
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NewsACA: HMRC must give greater clarity to avoid "pensions limbo" for DB schemes and members
The pensions industry requires greater clarity from government departments, if defined benefit (DB) schemes and members are not to find themselves in a “tax limbo”, warned the Association of Consulting Actuaries (ACA) this morning.
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NewsPublic sector pension bill exceeds UK GDP for the first time
Figures released by HM Treasury reveal that Britain’s public sector pension bill has exceeded the size of the total economy for the first time.
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NewsChancellor’s Mansion House pension reforms will 'unlock £75bn a year'
The Chancellor of the Exchequer Jeremy Hunt launched his 'Mansion House Reforms', which included plans to unlock the collective potential of UK pension schemes to invest in the UK economy and boost returns for savers.
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NewsPLSA offers pragmatic alternatives to politicians' ideas for UK growth
In recent months, the government, the opposition, the lord mayor of London and other lobbyists and policy wonks have floated various notions as to how pension funds – defined benefit (DB) and defined contribution (DC) – should invest their assets in order to boost growth in the UK’s economy.
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NewsLords call for ‘far stricter limits’ on LDI leverage
A committee in the House of Lords has called for “far stricter limits” on leverage in liability-driven investments, which it believes caused the Bank of England intervention, while considering giving the Prudential Regulation Authority a role in schemes’ supervision, due to their “bank-like” strategies.
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NewsIFS calls for government to scrap 25% tax-free lump sum
On the go: The Institute for Fiscal Studies has set out “controversial” proposals to reform the pension tax system, including removing the 25 per cent tax-free lump sum.
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NewsGovernment proposes changes to LGPS cost-control mechanism
The government is proposing a series of changes to the Local Government Pension Scheme cost control mechanism, aligning it with other public sector plans while giving more discretion to the Scheme Advisory Board.
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NewsTPR: Valuing some illiquid assets may be ‘impossible’
The Pensions Regulator has warned of the challenges posed by attempting to value illiquid assets, as the government seeks to incentivise defined contribution to increase these investments.
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NewsLDI crisis to hit L&G’s DB revenue and profit by £10mn
On the go: Legal & General has disclosed that its defined benefit business-linked revenues and profits will be hit by around £10mn in its full-year 2022 results, following an autumn liquidity crisis among pension schemes that saw its higher-fee products sold to meet collateral calls.
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NewsBMA blasts Sunak role in NHS pensions taxation
The British Medical Association has hit out at Rishi Sunak for changes made during his time as chancellor of the exchequer to the tapered annual allowance of NHS pensions.
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NewsABI: Solvency II reforms would ‘disincentivise’ infra investment
The government’s proposed reforms to the Solvency II regime would not help to facilitate insurers’ investment into UK infrastructure, the Association of British Insurers has claimed in a consultation response.
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NewsGovt equalises tax relief top-ups for net pay savers
On the go: The government has introduced legislation that will equalise the tax relief top-ups offered to low earners saving in net pay arrangements and those using relief at source schemes.
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NewsNadhim Zahawi appointed chancellor after Sunak resigns
On the go: Nadhim Zahawi has been appointed chancellor of the exchequer after dramatic resignations from cabinet heavyweights shook the UK government.