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UK Pension News

Follow our blog for the latest UK pensions news, analysis and pension updates. All our articles are tailored to UK expats living in the USA. You can also follow us on LinkedIn for comments, tips, news and updates.

Be aware of pension scams

Crackdown on Pension Liberation Schemes Continues

Since 2008, the UK Pension Regulator estimates that over £400 million of UK pension savings has been transferred into so called “pension liberation” schemes. This is a dramatic increase from less than £25m in 2010. Pension liberation (sometimes referred to as a “pension loan” or “cashing out”) involves the transfer of a person’s UK pension […]

New Fixed Protection Regime to be Introduced

From 6 April 2014 the UK Government is reducing the Lifetime Allowance (“LTA”) from £1.5MM to £1.25MM. The LTA was introduced by the UK Government in April 2006 and was a limit against which an individual’s pension is measured. Although there are no limits to how much an individual can save into their UK pension […]

Calculator spelling taxes on its display

Taxation of UK Pension Payments for Expats

If you have income from one country and are resident in another, you may be liable to pay tax in both countries. For this reason, the UK has negotiated double taxation treaties with countries like the United States to address this. Under such treaties you may entitled to receive income, like your pension income payments, […]

UK Final Salary Schemes’ Deficits Rise in March

The aggregate deficit for the UK’s 6,316 private sector final salary schemes (also known as defined benefit schemes) rose to £236.6 billion at the end of March 2013, according to the UK’s Pension Protection Fund (the “PPF”). This is an increase of £35.1 billion since February 2013. The funding ratio (being the ratio of assets […]

UK residential

UK Government Considers Residential Property Investment for SIPPs

In proposals outlined in the Budget on 20 March 2013, the UK Government announced that it will be looking at whether pension schemes (like Self Invested Personal Pensions) should be allowed to invest in residential property made from converted commercial property. The Budget documents say that the UK Government will explore “whether the conversion of […]