Citizens Advice will provide the face-to-face pension guidance set to be launched next April, the Treasury has announced.
The free service is aimed to help workers understand their options as they approach retirement age, following the introduction of new pensions rules.
Citizens Advice will work with the Pensions Advisory Service, which will deliver guidance over the telephone.
An online offering is also planned by the government, which intends to legislate to underpin the guidance, making imitation of the guidance service a criminal offence.
Will a substantial pay rise lead to an excessive tax liability?
M Hargrove (TC4035)
Highlights from the event held at Baker Tilly’s Bloomsbury offices
Can a retirement pot be assigned to a spouse or civil partner to reduce tax?
The latest pension schemes newsletter from HMRC, issue 65, includes the following information.
RPSCOM100(Z) deadline
The 2013/14 RPSCOM100(Z) for registered pension schemes operating relief at source should be submitted to HMRC by 6 October 2014. Failure to file in time will result in subsequent monthly repayments claims being suspended until the completed form is received.
Transition to GOV.UK
How should the tax liability be calculated on a pension paid after death?
Are limited liability partnerships obliged to auto-enrol their individual members?
The process for applying for a certificate of residence for a registered pension scheme has retooled with effect from 4 August.
Form APSS146E must be used by the owner of the scheme assets, or an authorised third party, to request a certificate.
There is no need to send another APSS146E if HMRC already hold a completed form that details who owns the assets.
If an APSS 146 has not been completed because the scheme owner has not previously reclaimed UK tax, he or she can apply for a certificate of residence providing in writing:
Auto-enrolment; Going, going; Associated debt; Employment dead end
Bad news in the government’s response to its consultation on liberalising pensions
Guaranteed guidance on pensions choices will be provided by independent organisations rather than by schemes or their providers, the government has announced following consultation on this year’s Budget announcements.
News measures will allow individuals to transfer from private sector defined benefit (DB) schemes to defined contribution (DC) schemes, subject to two safeguards: