Employee Benefits

MARCH 4, 2024

Two new limits will be introduced in April to control tax relief on pension lump sums. The lifetime allowance (LTA) is the total value an individual can build up in their combined pension savings without incurring a tax charge: for most people in the tax year 2023/24 this is £1,073,100.

Pension 59

Pension Pension Benefit Employment Taxes 59

Employee Benefits

NOVEMBER 8, 2022

Trott has taken over responsibility for pensioner benefits including state, private and occupational provisions, as well as oversight of bodies such as The Pensions Regulator (TPR). Present press speculation around tax allowances for pensions are particularly concerning.

Pension 59

Pension Pension Benefit Government Taxes 59

HR Digest

FEBRUARY 20, 2020

For smaller businesses, offering retirement benefits help the employee to take advantages of the retirement plans for themselves. Retirement Benefits: Pros and Cons . Some of the pros of offering retirement benefits to employees include: The organization can receive proper tax advantages for the business.

Pension 87

Pension Retirement Plan Taxes Pension Benefit 87