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UK government to abolish 'death taxes' on unused pension savings

Defined contribution (DC) pension savers will be able to pass on any unused pension funds to a nominated beneficiary when they die without those funds being subject to a 55% tax charge, the UK's chancellor of the exchequer has announced. 30 Sep 2014

Annuity figures show UK retirees "starting to use new freedoms", says ABI

New annuity sales fell by over one third in the three months following the announcement of changes to the pension saving regime that would give savers more freedom over the way in which they access their pension pots, according to insurers. 16 Sep 2014

Out-Law Guides

Marketing of tax avoidance schemes could see pension scheme administrators fail new 'fit and proper' test, says expert

Those who have been involved in the design or marketing of a tax avoidance scheme could be prevented from acting as the administrator of a registered pension scheme according to new guidance published by HM Revenue and Customs (HMRC). 04 Sep 2014

No decision due on pension liberation cases before autumn, says Pensions Ombudsman

The Pensions Ombudsman is "not yet in a position to publish" its conclusions on at least 84 pension liberation complaints that have been eagerly anticipated by the UK pensions industry, according to its latest update. 22 Aug 2014

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