Updated to take into account the reduction in the money-purchase annual allowance, changes to the rules on foreign pensions, the increase in the limit on tax-free pensions advice and introduction of the pensions advice allowance.
The Government consults on the state pension age beyond 2028.
The Pensions Bill gained Royal Assent late in 2011. Its principal provisions increase state pension age and offer new flexibility on auto-enrolment. It also makes a number of other changes, including to second-tier state pensions, the indexation of pensions, the Pensions Regulator's powers, payments out of scheme funds to employers and the definition of money purchase.
The Government invites individuals and organisations to submit evidence on when the state pension age should be raised to 66, on the basis that people will be receiving their state pension for longer than anticipated when the increase was determined.
A recent decision by the Outer House of the Court of Session should bring joy to sponsors of defined-benefit schemes in Scotland.
HR and legal information and guidance relating to pension age.