Tag: Tax

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Normal minimum pension age (NMPA)

Since 6 April 2010, individuals have generally had to wait until their 55th birthday before taking benefits (instead of age 50 as previously), unless they have an earlier protected pension age (see below) or their retirement is on...

Administration: Role and responsibilities of the Scheme Administrator

Under section 270 of the FA04, the scheme administrator is responsible for the tax affairs of the scheme and for ensuring that it complies with its tax obligations. To be appointed as a scheme administrator, a person or persons must be...

Authorised payments

Since A-Day (6 April 2006) payments by registered occupational pension schemes are categorised as either authorised or unauthorised member or employer payments. Tax relief is given in respect of retirement saving in a registered pension...