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Beth Brown and Danyal Enver: What did the Spring Budget mean for pensions?

Employee Benefits

The Chancellor announced powers that would be given to both the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) in legislation slated for as early as 2027, enabling them to enforce the value for money regime. The Chancellor also announced two policy intentions for pensions in the future, with specifics to follow.

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Government launches new disability guide with CIPD

Employee Benefits

The Department for Work and Pensions has published new guidance to help employers better support disabled people. DWP said it had already met its target of getting one million more disabled people into employment by 2027. The DWP said it forms part of its £2.5

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Spring Budget 2023

Employee Benefits

Please see our summary below: Pension allowances The Government will remove the Lifetime Allowance charge, before completely abolishing it in a future Finance Bill, and raise the Annual Allowance to £60,000 from April 2023. The Chancellor of the Exchequer Jeremy Hunt, has today delivered the Spring Budget 2023.

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AMERICAN RESCUE PLAN ACT CONTAINS MANY EMPLOYEE BENEFITS RELATED PROVISIONS

Benefits Notes

The ARPA also allows the employer, insurer, or multiemployer plan sponsor who subsided the premiums to offset the cost by claiming a new federal tax credit. The subsidy is tax-free to the individual receiving the subsidy. Tax Credit. Single Employer Pension Plan Provisions. Individuals Eligible to Receive Subsidy.