News

The Annual Allowance and Lifetime Allowance factsheets have now been updated.

On Friday 12th February 2021 the government issued the Exit Payment Cap Directions 2021 which disapply parts of the Restriction of Public Sector Exit Payments Regulations 2020 in England with immediate effect.

The Government has confirmed that, due to unintended consequences, the public sector exit cap will not apply to exits from 12 February 2021.

The legislation implementing the £95k cap on exit payments has now been signed and comes into force on 4 November 2020. This means that there will be a limit on the amount of costs for early retirement due to redundancy.

The Government has confirmed that there will be changes to all main public sector schemes, including the LGPS, to remove this age discrimination. This ruling is often called the ‘McCloud judgment’ after a member of the Judges’ Pension Scheme involved in the case.

Don’t let a scammer enjoy your retirement – find out how pension scams work, how to avoid them and what to do if you suspect a scam.

Your Annual Benefit Statement are now in the post