All State pension articles – Page 8
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News
Pensions freedom age to increase from 55 to 57
On the go: The government has confirmed it will increase the age at which people can access their pension from 55 to 57 in 2028.
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Chancellor spares pensions tax relief and triple lock for now
On the go: Pensions tax relief and the triple lock have once again been spared by the chancellor of the exchequer, although changes to these costly policies are expected down the line.
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Widespread industry support for regulator’s Covid-19 response
On the go: Industry professionals are “overwhelmingly positive” about the Pensions Regulator’s response to Covid-19, though they remain pessimistic about future prospects, according to a report from the Pensions Management Institute.
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Covid-19 leads to unexpected interest in bridging pensions
On the go: The coronavirus pandemic has led to an increase in the number of defined benefit scheme members looking to bridging pensions, according to a report by Aon.
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HMRC to issue GMP final ‘outdated’ data cuts in July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guaranteed minimum pension data cuts by the end of July, despite confirming that some of this information might be out of date and unreliable for use in rectifying incorrect payments.
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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”.
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Govt could scrap pensions triple lock to reduce virus debt
On the go: The pensions triple lock could be scrapped in the near future as the government looks to recoup the hundreds of billions of pounds it has spent on Covid-19 support.
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Waspi women call for state pension access
On the go: A group of women born in the 1950s affected by an increase in the state pension age has called on the government to give early access to the state pension for those affected by the coronavirus outbreak.
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Think tank calls for pensions triple lock to be scrapped
On the go: The pensions triple lock should be scrapped following the coronavirus crisis so that all generations pay their fair share to meet the costs of the pandemic, according to a think tank.
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State pension age campaigners granted leave to appeal judicial review
On the go: The BackTo60 group has been granted leave to appeal a High Court decision, and will be taking its fight against state pension age rises for 1950s-born women to the court of appeal.
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Investigation into state pension age complaints resumes
On the go: The Parliamentary and Health Service Ombudsman has resumed its investigation into complaints about the state pension age rise for women, following the outcome of a judicial review last year.
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Renewed calls for govt to set up pensions commission
On the go: Two think tanks are calling for the government to set up a new pensions commission, after it found cross-party support for such an initiative.
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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.
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SNP vows to end executive pay pensions gap
On the go: The Scottish National Party will support moves to ensure executive pension contributions are the same as for all workers.
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Labour promises £58bn redress to 1950s women
On the go: The Labour party has pledged to compensate women affected by the state pension age hike, with a £58bn commitment.
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Ombudsman: DWP failed to explain GMP downgrade to members
The Department for Work and Pensions failed to properly communicate the detrimental impact that ending contracting out had on increases for individuals with a guaranteed minimum pension, the Parliamentary and Health Services Ombudsman has concluded.
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Lib Dems in NHS pensions pledge
On the go: The Liberal Democrats have pledged to find a solution for the pensions crisis driving senior NHS staff to turn down extra work, but stopped short of any commitment to end the annual allowance taper.
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Actuaries call for legislation on DB schemes simplification
On the go: The Association of Consulting Actuaries is calling for the next government to facilitate the wider simplification of defined benefit schemes, as part of its manifesto for the December general election.
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Politicians expected to duck divisive pensions issues
On the go: Radical pensions reforms are likely to be avoided by political parties in their election manifestos, according to Royal London analysis.
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LTA to increase to £1.075m next year while pensioners get bumper rise
On the go: The latest data from the Office for National Statistics shows the consumer price index of inflation grew by 1.7 per cent in September 2019, with impacts on the state pension and the lifetime allowance.