Pension Simplification – Traps for the Unwary
- Podcast Location:
- Download it here [file size: 31.1 MB]
- Categories:
-
Pensions Law
- CPD Points:
- Up to 1 point. details »
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- Length:
- 30 minutes of audio
(+ optional 5 minute online quiz) - Plays on Computer:
- Yes Downloadable as MP3: Yes
- Contributor(s):
- Course Aims:
This podcast is aimed at those with an interest in pensions law. It addresses the various pitfalls that have emerged as a result of the numerous changes made to the regulation of pension schemes since ‘A-Day’ back in 2006. This day represents a shift towards the simplification of the UK’s pensions regime. Naturally the road towards simplification has not run smoothly and a number of traps still exist for the unwary. This podcast identifies 3 of them; the annual and lifetime allowance and capped and flexible drawdown - and attempts to guide scheme administrators to safety.
- Outcomes:
- After completing the course you will:
- Understand what ‘A-Day’ was about, where and why the plan for simplification has gone wrong;
- Be aware of the changes made to the annual allowance and who may fall into a trap;
- Be aware of the relevant changes affecting the capped drawdown;
- Understand an increasing tendency for HMRC to pursue scheme administrators and how to protect oneself;
- Know conditions that have been made by provision for flexible drawdown and the risks that are associated with this strategy;
- Know what the priorities should be for scheme administrators.
- Level:
- Complex
- Classification:
-
Legislative Updates
Practical Guide
- Sources and References:
-
- There are no relevant citations for this podcast.
This podcast is about the potential pitfalls that scheme members and administrators might fall into resulting from the recent ‘simplification’ of the rules governing pensions and how best to spot and avoid them.
Podcast added: 07/09/11
Podcast last reviewed: 2012-04-02
