For best experience, please enable javascript UK Pensions News | Florin Pensions

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.

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 […]

Record Closure Rates for UK Final Salary Schemes

Last year 31% of UK companies had closed their final salary schemes, according to the 2012 Annual Survey conducted by the National Association of Pension Funds (the “NAPF”). This is an increase from 23% in 2011. Only 13% of final salary schemes in the private sector were still open to new employees, down from 43% […]

Couple strolling down street

HMRC Guidance Requires Gender Neutral Drawdown Rates

Historically women have received a lower level of income from their pension plans than men of equivalent age, pension fund size and circumstances. This was to reflect the fact that women on average live longer so their pensions will generally be paid for a longer period of time. However, since 21 December 2012 this has […]

2012 Brought More Change for UK Pensions

For anyone following the UK pensions’ industry over the last several decades, one thing has remained certain – change – and 2012 did not disappoint. The Chancellor made several important announcements in his Autumn Statement affecting UK pensions. UK final salary schemes continue to be heavily in deficit. In May 2012, they hit a record […]