Category Archive for: ‘UK news’

Theresa May’s election shambles save UK final salary pension holders

The Conservative government had sought to address the burden of pension commitments in its election manifesto, with a plan to decouple annual rises in pensions from inflation from 2020. But when the election returned a minority government for May propped up by Northern Ireland’s Democratic Unionists, the commitment was abandoned.

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UK final salary transfer values falling

U.K. pension deficits fell to the lowest level since the end of 2015, dropping 10 percent in June as yields on government bonds rebounded. The gap between the assets and obligations of U.K. defined-benefit pension plans dropped to June 30, 2017, according to the latest PricewaterhouseCoopers LLP’s Skyval Index. The index tracks around 6,000 defined benefit schemes in the U.K. …

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Brexit pension transfers consequences

There has been a lot of talk of the general implications of the Brexit vote. But what, in practical terms, is it likely to mean for those with UK pensions and those thinking about transferring their pensions out of the UK. In this article we look at each type of pension, final salary and contributory, to understand the implications for …

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UK government cuts final salary GMP guarantee

Pound Cuts

Thousands of Final Salary Pension members will lose out under the new Flat rate UK State pension which comes in April 2016.   In short anyone with a pre-1988 guaranteed minimum pension (GMP) component in their private final salary scheme pension is effected. Under previous rules in agreement for contracting out of the State pension (into a final salary pension) …

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UK pension changes cause massive disruption

Pension Strike E1456793378355

  In a series of widespread UK pension changes the UK government has changed the landscape for UK pension holders, the most important of these are: The UK government have now stopped public sector pensions (bar local government) from being transferred out of the UK Private defined benefit pensions escaped the same fate after much debate, they could easily be …

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