We are very pleased to welcome our new Business Development Executive, Jenda McSwiggan.
The lifetime allowance is a limit on the amount of pension benefit that can be drawn from pension schemes – whether lump sums or retirement income – and can be paid without triggering an extra tax charge.
By law, from 6 April 2019 the minimum amount employers pay into the Scheme is 3% of qualifying earnings, and the amount staff put in is 5%, bringing the total contributions to 8%.
The Department of Work & Pensions has launched a free toolkit to help employers feel more confident when talking to employees about their workplace pension.