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Useful Information from 2022 Webinars- Part 2

Money Talk

Nobody has a crystal ball, but we know that tax rates will rise starting in 2026 when the Tax Cuts and Jobs Act expires. Work in Retirement- A speaker at the 2022 Retirement Summit sponsored by the Employee Benefit Research Institute (EBRI) noted that 1 in 3 retirees have experience working after retiring from a primary career.

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Government extends pensions dashboard connection deadline

Employee Benefits

The UK government has issued an update on its planned pensions dashboards programme , stating that it needs additional delivery time and its connection deadline will be 31 October 2026. It stated that this will give the programme the flexibility to be completed effectively.

Pension 59
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Do employees really need to be concerned about the Lifetime Allowance right now?

Employee Benefits

Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This could particularly affect those who never check the value of their pension or haven’t done so for some time. Positive pension fund growth as well as a pay rise may easily push them over the LTA before they know it.

Pension 104
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London Underground strikes over pension changes suspended

Employee Benefits

Several strike dates due to take place on the London Underground have been suspended following negotiations about potential reforms of Transport for London’s (TFL) pension scheme. A central government-demanded review of TFL’s pension arrangements, which is a condition of the 1 June 2021 £1.1

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Pensions Dashboards are only part of the picture – people need a wider view of their finances

Employee Benefits

The government has published statutory guidance setting out the staged timetable by which it expects pension schemes to connect to the Pensions Dashboards. With the launch of the Pensions Dashboards approaching there is potential to develop this into ‘Open Finance’ which is an extension of Open Banking.

Pension 52
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Greggs to share £17.6 million bonus among staff

Employee Benefits

This will include the impact of the 10% national living wage increase and enhancement of its pension benefits, with staff now able to access up to 6% employer contributions. million bonus among staff appeared first on Employee Benefits. The post Greggs to share £17.6

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What employees need to know to reduce the impact of the LTA

Employee Benefits

As announced in April’s Budget, the Lifetime Allowance (LTA) will be frozen at its current level of £1,073,100 until April 2026. million pension savers [1] are set to reach the limit and will be hit with a tax charge of 55% in retirement. However despite this, many employees don’t even realise that they are at risk.

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