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6 April, 2012
From 6 April 2012 the UK Government has ended the contracting out of the State Second Pension (SSP) (formerly known as the State Earnings Related Pension Scheme (SERPS)) on defined contribution schemes. Since 6 April 1978, it has been possible for employers with final salary schemes to contract out of SERPS. From 6 April 1988, […]
20 March, 2012
From 6 April 2012 the UK Government is reducing the Lifetime Allowance from £1.8MM to £1.5MM. The Lifetime Allowance was introduced by the UK Government in April 2006 and was a limit against which an individual’s pension was measured. In April 2006 the allowance was £1.5MM and this increased to £1.8MM by 2011. It is […]