One of the biggest talking points from the March 2023 budget was the removal of the Lifetime Allowance. The Lifetime Allowance had been in place since 2006 and is, in very basic terms, the Lifetime tax free limit on someone’s pension savings. At retirement if the value of the pension benefits exceeded this allowance, then […]
Lifetime Allowance Read More »
A big topic of discussion recently has centred around the increase to the Normal Minimum Pension Age (NMPA) from 55 to 57 from 6th April 2028. The intention is then that the NMPA tracks 10 years behind the State Pension Age – so, under current plans, we can expect this to increase. The NMPA is
Changes to Normal Minimum Pension Age in Public Sector Defined Benefit Schemes Read More »
The Chancellor’s Spring 2023 budget took place on 15th March 2023. It was a huge surprise that there have been a significant amount of pension changes including within this budget. These are summarised below: Increase of the Annual Allowance from £40,000 to £60,000. This means that the growth in your annual pension can be up
Budget 2023 – Annual/Lifetime Allowances Read More »
It’s International Women’s Day and research from Scottish Widows shows that on average, women today retire with £123,000 less than men. There are lots of reasons, some obvious, some not so much. They include: The historical roles of men and women in the workplace The disparity in workplace earnings between men and women The historical
Another International Women’s Day Blog Read More »
We are pleased to announce a new series of guest articles on the latest news, challenges, and opportunities in the pensions arena. Our first article is by Yasmin Andrews of BWD Search & Selection. It covers the growth, challenges, and future prospects of the Professional Trustee industry. The rapid growth of Professional Trustee (PT) Firms
Is this the rise of professional trustee firms? Read More »
We recently worked with Viridian FX, who specialise in creating high-end visual effects for film and television. Their people are typically ambitious, younger and creative. Viridian FX approached us to ask us to help with educating their people to manage their money better. What we didWe researched them as a business and spent some considerable
Case study – helping professionals manage their money Read More »
This is the first of a regular series of technical updates. These will typically focus on those schemes we work with most frequently. This includes the NHS Pension Scheme, the Civil Service Pension and the Local Government Pension Scheme. NHS Pensions Within the last month, NHS Pensions have issued the following letter to members of
Cost of living increases have generated a lot of media comment. Laura and Nigel discuss the extent to which pension schemes in the public sector protect against this, the unintended consequences of high inflation and what it means for members day to day. Access the podcast here or wherever you download your podcasts.
Podcast – pensions and the cost of living Read More »
Sounds like the start of a bad joke, doesn’t it?! Nigel leaving me to fend for myself at the gala dinner, that was a joke. Actually no, it was not, everyone was very lovely and accommodating. Most of the dinner chat centred around the two pension workshops which I ran earlier in the afternoon. These
If you follow our blogs you will recall that last year we gave you an update on the history of Pengage since we were founded in 2018. Laura started the business because of fundamental communication failings within our industry. We still believe this to be the case but we, along with many others, are working
Four years ago today … Read More »
