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Written by Occupational Pensions
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Sunday, 01 August 2010 00:00 |
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The Finance (No.2) Bill is making rapid progress through parliament. It allows the legislation due to take effect in 2011 restricting the tax relief on pension contributions paid by higher earners to be repealed and also allows those reaching age 75 on or after 22.6.10 who have not purchased an annuity to delay doing so until the current tax rules have been modified. (Brief details on p.14.)
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Written by Occupational Pensions
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Tuesday, 01 June 2010 00:00 |
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BAS issued technical actuarial standard (TAS) R on reporting actuarial information and TAS D on checking and preparation of data. BAS issued exposure drafts of TAS on modelling, and TAS on pens ions (covering discount rates, best estimates of liabilities and scheme funding reports; closed 18.9.09). BAS consulted on proposal for TAS on transformations (changes to schemes and insurance contracts).
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Written by Occupational Pensions
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Tuesday, 01 June 2010 00:00 |
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Accounting Standards Board (ASB) consulted on changes to scheme accounts (OP, March 2008); closed 14.7.08. Pensions Regulator consulted on revised guidance on internal controls (OP, January 2010). Regulator consulted on member record-keeping (OP, March 2010). Maximum penalty for breach of data protection provisions by data controllers increased to £500,000 (OP, March 2010).
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Written by Occupational Pensions
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Tuesday, 01 June 2010 00:00 |
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Following ECJ ruling in R (Age UK) v Secretary of State for Business, Innovation & Skill, High Court rejected claim that default retirement age of 65 was unlawful (OP, November 2009).
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Written by Occupational Pensions
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Tuesday, 01 June 2010 00:00 |
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SI 2010/93 made, extending normal employment rights to agency workers after 12 weeks in a job, but excluding pensions.
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