Pension Schemes - news

Contents

6 February 2012

Pension savings annual allowance calculator
From 6 April 2011 the annual allowance for tax relief was reduced to £50,000. You can use this calculator to work out the total amount of your savings and any unused annual allowance for certain types of pension savings for the 2011-12 tax year.

2 February 2012

Qualifying Recognised Overseas Pension Schemes (QROPS)(PDF 292K)
Pension Schemes Services (PSS) has published an update to the QROPS list.

19 January 2012

Relief at Source (RAS) project update
HM Revenue & Customs Pensions has published an update on the RAS project.

18 January 2012

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 126K)
'Pension Schemes Services (PSS) has published an update to the QROPS list.

January 2012 Submission deadlines - Pension Scheme Returns and Event Reports
The deadline for submitting Registered Pension Scheme Returns, Event Reports and trustee tax returns (form SA970) for the 2010-11 tax year is 31 January 2012.

6 January 2012

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 261K)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

30 December 2011

January 2012 submission deadlines - Pension Scheme Returns and Event Reports
The deadline for submitting Registered Pension Scheme Returns, Event Reports and trustee tax returns (form SA970) for the 2010/11 tax year is 31 January 2012. But you need to register by 13 January 2012.

21 December 2011

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 135K)
Pension Schemes Services (PSS) has published an update to the QROPS list.

20 December 2011

Pensionschemes Newsletter 51 (PDF 70K)
The December 2011 edition has now been published.

19 December 2011

Commutation of small personal pension funds (PDF 40K)
Following the publication on 6 December 2011 of draft secondary legislation to enable individuals to access savings held in small personal pension schemes, that is, £2,000 or less, by way of lump sum payment (commutation), draft guidance has been published today for consultation.

Overseas transfers of pension savings - QROPS (PDF 174K)
Following the publication on 6 December 2011 of draft secondary legislation to make changes to the system for transfers of pension savings to qualifying recognised overseas pension schemes (QROPS), draft guidance has been published today for consultation.

9 December 2011

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 995K)
Pension Schemes Services (PSS) has published an update to the QROPS list.

1 December 2011

Automatic enrolment into pensions 2012 - actions for employers
Workplace pensions law is changing and every employer must act.

29 November

Employer asset-backed pension contributions
HMRC has today published a summary of responses, a Tax Information and Impact Note (TIIN) and the draft Finance Bill 2012 legislation and explanatory notes. The legislation will have effect on and after 29 November 2011.

25 November

Annual allowance - carry forward rules for the transitional years
HM Revenue & Customs has revised the guidance on how carry forward works for the transitional years 2008-09, 2009-10 and 2010-11.

24 November

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 285K)
Pension Schemes Services (PSS) has published an update to the QROPS list.

Statutory Instrument 2011/2696 and Explanatory Memorandum (Opens new window)
The Employment Income Provided Through Third Parties (Excluded Relevant Steps) Regulations 2011.

22 November

Pension Schemes Newsletter 50 (PDF 91K)
The latest newsletter concering Fixed Protection for pension savings has now been published.

18 November

Minutes of the Pensions Industry Stakeholder Forum 12 October 2011 (PDF 51K)
HM Revenue & Customs has published minutes from the Pensions Industry Stakeholder Forum

11 November

Penalties for late submission of Tax Returns for Trustees of Registered Pension Schemes (SA970)
This is a note to remind trustees that penalties will be charged where you submit your pension schemes SA return late even if no tax is due.

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 1.1MB)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

4 November

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 243K)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

How to obtain a Pension Scheme Tax Reference (PDF 23K)
HM Revenue & Customs have published guidance on how to obtain a Pension Scheme Tax Reference.

13 October

Qualifying Recognised Overseas Pension Schemes (QROPS)(PDF 146K)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

30 September

Contracted Out Guidance Booklets
HM Revenue & Customs have revised the CA14C and CA14E booklets following the change in legislation from 1 October 2011.

28 September

Qualifying Recognised Overseas Pension Schemes (QROPS)(PDF 1.2MB)
Pension Schemes Services (PSS) has published an update to the QROPS list.

22 September

Pensions: Draft Statutory Instrument
The Registered Pension Schemes and Overseas Pension Schemes (Electronic Communication of Returns and Information) (Amendment) Regulations 2011.

21 September

Pension Schemes Newsletter 49 (PDF 70K)
The Pension Schemes Newsletter Number 49 has been published.

19 September

Tax Information and Impact Note for SI 2011/2281 (PDF 43K)
The TIIN to accompany the Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) (Amendment) Regulations 2011 has been published.

Statutory Instrument 2011/2281 and Explanatory Memorandum (Opens new window)
The Employer-Financed Retirement Benefits (Excluded Benefits for Tax Purposes) (Amendment) Regulations 2011

15 September

Qualifying Recognised Overseas Pension Schemes (QROPS)(PDF 173K)
Pension Schemes Services (PSS) has published an update to the QROPS list.

13 September

Changes to the Pension Schemes Services guidance
Pension Schemes Services is working to improve the pension schemes guidance on this website and in preparation is removing or archiving old guidance - further information on the changes being made.

8 September

Pensions Industry Stakeholder Forum
HM Revenue & Customs has published information about the Pensions Industry Stakeholder Forum

6 September

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 142K)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

22 August

Pension Schemes Online User Guide (PDF 182K)
A revised Online User Guide has been published which includes detailed guidance on how to notify HM Revenue & Customs that a pension scheme has wound up.

How to wind up a Pension Scheme (PDF 62K)
New guidance has been published which explains how to wind up a Pension Scheme.

19 August

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 153K)
Pension Schemes Services (PSS) has published an update to the QROPS list.

10 August

Pension Schemes Services New Form - APSS227
HM Revenue & Customs have today published new Pension Scheme Services form APSS227 - Application for protection of your lifetime allowance - fixed protection, along with completion notes.

9 August

Pensions: Reduction of the Annual Allowance
HM Revenue & Customs has published amendments to the draft guidance on the reduced annual allowance for pension savings that was published on 14 October 2010.

Pension Schemes Services New Form - APSS315 (PDF 150K)
HM Revenue & Customs have today published new Pension Scheme Services form APSS315 - Flexible Drawdown Payments.

Pension Schemes Newsletter 48 (PDF 65K)
The Pension Schemes Newsletter Number 48 has been published.

4 August

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 141K)
Pension Schemes Services (PSS) has published an update to the QROPS list.

1 August 2011

Statutory Instrument 2011/1797 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Provision of Information) (Amendments) (No. 2) Regulations 2011.

Statutory Instrument 2011/1793 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Notice of Joint Liability for the Annual Allowance Charge) Regulations 2011.

Statutory Instrument 2011/1792 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Prescribed Requirements of Flexible Drawdown Declaration) Regulations 2011.

Statutory Instrument 2011/1791 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Modification of Scheme Rules) Regulations 2011.

Statutory Instrument 2011/1790 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Transfer of Sums and Assets) (Amendment) (No.2) Regulations 2011.

Statutory Instrument 2011/1783 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Relevant Income) Regulations 2011.

Statutory Instrument 2011/1782 and Explanatory Memorandum (Opens new window)
The Taxation of Pension Schemes (Transitional Provisions) (Amendment) (No.2) Order 2011.

Statutory Instrument 2011/1752 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Lifetime Allowance Transitional Protection) Regulations 2011

Statutory Instrument 2011/1751 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Miscellaneous Amendments) Regulations 2011.

21 July 2011

Qualifying Recognised Overseas Pension Schemes (QROPS) (PDF 113K)
Pension Schemes Services (PSS) has published an update to the QROPS list.

18 July 2011

Pensions: Online User Guide (PDF 167K)
A revised Online User Guide has been published today which clarifies the position regarding submission of Event Reports online.

7 July 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has published an update to the QROPS list.

5 July 2011

Pensions: Draft secondary legislation
HM Revenue & Customs have published for comment draft regulations relating to disguised remuneration.

29 June 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has published an update to the QROPS list.

24 June 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has published an update to the QROPS list.

22 June 2011

Pension Schemes Newsletter 47 (PDF 72K)
Pension Schemes Newsletter Number 47 has been updated to provide additional information on the meaning of expected pension.

14 June 2011

Pension Schemes Newsletter 47 (PDF 72K)
The Pension Schemes Newsletter Number 47 has been published.

9 June 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

8 June 2011

Pensions: Draft secondary legislation
HM Revenue & Customs have published further sets of draft regulations relating to the age 75 changes, for comment.

25 May 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

23 May 2011

Pensions: Draft secondary legislation
HM Revenue & Customs have published for comment draft regulations relating to the restriction of pensions tax relief and the age 75 changes.

13 May 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

3 May 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

21 April 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

19 April 2011

Early access to pension savings and trivial commutation (Opens new window)
The Financial Secretary to the Treasury has announced the Government's response to the call for evidence on early access to pension savings and pensions tax rules for those with small pension pots, which closed on 25 February 2011.

15 April 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has today published an update to the QROPS list.

8 April 2011

Pension Schemes Newsletter 46 (PDF 65K)
The Pension Schemes Newsletter Number 46 has been published.

6 April 2011

Pension Schemes Online user guide
The latest version of the guide to using the Pension Schemes online service for scheme administrators and practitioners has been published.

4 April 2011

Pensions: reduction of the annual allowance
HM Revenue & Customs has published amendments to the draft guidance on the reduced annual allowance for pension savings that was originally published on 14 October 2010.

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has published an update to the QROPS list.

31 March 2011

Publication of Finance Bill 2011 and Pensions Documents
HM Revenue & Customs has published draft Guidance, draft Statutory Instruments and two announcements about Extra Statutory Concessions A10 & A11 all relating to Registered Pensions Schemes alongside Finance Bill 2011.

23 March 2011

Statutory Instrument 2011/732 and Explanatory Memorandum (Opens new window)
The Taxation of Pension Schemes (Transitional Provisions) (Amendment) Order 2011 (SI2011/732).

Statutory Instrument 2011/733 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Transfer of Sums and Assets)(Amendment) Regulations 2011.

21 March 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has published an update to the QROPS list.

14 March 2011

Changes to Pension Schemes Online (PDF 169K)
HM Revenue & Customs have published the spring 2011 IT release for Pension Schemes Online.

7 March 2011

Pensions Savings - Changes to the annual allowance
More information including a revised Tax Information and Impact Note and draft legislation published on 3 March.

4 March 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has published an update to the QROPS list.

25 February 2011

Statutory Instrument 2011/302 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Accounting and Assessment) (Amendment) Regulations 2011.

Statutory Instrument 2011/301 and Explanatory Memorandum (Opens new window)
The Registered Pension Schemes (Provision Of Information) (Amendment) Regulations 2011.

23 February 2011

Pensions: Reduction of the Annual Allowance
HM Revenue & Customs has published amendments to the draft guidance on the reduced annual allowance for pension savings that was published on 14 October 2010.

18 February 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has published an update to the QROPS list.

15 February 2011

Pension Schemes: 2011 Drawdown Pension Tables
HM Revenue & Customs has published the 2011 Drawdown Pension tables and guidance for calculating the maximum income from drawdown pension funds.

11 February 2011

Pension Schemes Newsletter 45 (PDF 29K)
The Pension Schemes Newsletter Number 45 has been published

10 February 2011

Pensions: draft annual allowance information regulations
HM Revenue & Customs (HMRC) has published for comment draft regulations relating to information requirements for scheme administrators and employers in connection with the reduced annual allowance.

8 February 2011

Pension Schemes newsletters 2011
Pension Schemes newsletters 2011

4 February 2011

Qualifying Recognised Overseas Pension Schemes (QROPS)
Pension Schemes Services (PSS) has published an update to the QROPS list.

Draft Appointed Day Order making minor technical changes to new late filing and late payment penalty regimes (PDF 36K)
Supplementary to the orders already published, HM Revenue & Customs (HMRC) has published a draft order for external comment which will bring into effect certain minor technical changes to the late filing and late payment penalty regimes for ITSA and Pension Scheme Returns in April 2011.

Draft Appointed Day Order for new late filing penalties for Pension Scheme Returns (PDF 22K)
HM Revenue & Customs (HMRC) has published a draft order for external comment bringing into effect the new late filing penalties for Pension Schemes from 1 April 2011.