Spring cleaning for pensions
It’s that time of the year when the daffodils are beginning to break through and thoughts turn to a spring clean after the deep dark winter. And this is as true in the pensions world as anywhere else!
We have been reading an excellent publication from Squire Sanders entitled “Spring Clean Your Pension Scheme”. You can click through to the document here. It’s a really good catch all of the issues that an employer or Trustees should be looking at for their pension scheme. Some of the issues only apply to Defined Benefit schemes and others to Defined Contribution and Defined Benefit schemes.
Pension Input Periods
The piece on Pension Input Periods will affect anyone that pays into a registered pension scheme. We have been doing some work lately for owner managers amongst our clients and the issue of Pension Input Periods is one that needs some careful examination – especially for people that have earned over £130,000 over the last three tax years. Getting it wrong could result in a tax bill for the member.
We hope that you find the publication interesting and a useful prompt if you haven’t been getting advice on these subjects from your usual source. If you are a pension scheme Trustee reading this should count towards your Trustee Knowledge & Understanding programme.