Government figures show that 3.3m workers currently using salary sacrifice will be impacted by the changes announced in the recent Budget. These figures were contained in the latest impact assessment, which showed...
The Government will look to introduce new legalisation, to put a wider definition of trustees' fiduciary duty onto a statutory footing. This announcement was made by the pensions minister Torsten Bell in...
The future of ESG within the pension industry is “genuinely in doubt” due to a political backlash in the US, according to former pensions minister and consultant Guy Opperman. This stark warning...
The Chancellor’s latest budget paves the way for DB schemes to use surplus funds to make direct payments to pensioners. The current Pension Schemes Bill 2025 includes provisions to change the law,...
The chancellor’s decision to restrict salary sacrifice on contributions of more than £2,000 a year could cost the largest employer £1.5m a year. This figure is from modelling by Hymans Robertson, looking...
Chancellor Rachel Reeves has increased the tax rate due on savings interest, dividends and property income. In today's Budget she announced that these will all be increased by 2 percentage points, at both...
The pension and savings industry has expressed release that there were not more significant raids on pensions in the Budget, beyond widely-trailed changes to salary sacrifice. Prior to the Budget there was...
The Chancellor Rachel Reeves has confirmed that income tax thresholds will be frozen beyond 2028 to the 2030/31 tax year. Freezing thresholds for a further three years will raise significant sums for...
The Office of Budget Responsibility has confirmed the government will scrap unlimited salary sacrifice on pensions, limiting the maximum contribution to £2,000. This confirmation comes ahead of the Chancellor’s Budget speech today,...
The Government has confirmed a sizeable uplift to statutory minimum pay rates ahead of today’s Budget. The Government has said these inflation-beating increases will help workers on lower salaries with persistently high...
