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The Pensions Act 2008 is an Act of the Parliament of the United Kingdom. The principal change brought about by the Act is that all workers will have to opt out of an occupational pension plan of their employer, rather than opt in. This is referred to as automatic enrolment, and moves a significant amount of responsibility onto the employer to ...
The basic State Pension (alongside the Graduated Retirement Benefit, the State Earnings-Related Pension Scheme, and the State Second Pension) is a benefit payable to men born before 6 April 1951, and to women born before 6 April 1953. The maximum amount payable is £169.50 a week (April 2024 - April 2025). [1]
A self-invested personal pension ( SIPP) is the name given to the type of UK government -approved personal pension scheme which allows individuals to make their own investment decisions from the full range of investments approved by HM Revenue and Customs (HMRC). SIPPs are "tax wrappers", allowing tax rebates on contributions in exchange for ...
A personal pension scheme ( PPS ), sometimes called a personal pension plan ( PPP ), is a UK tax-privileged individual investment vehicle, with the primary purpose of building a capital sum to provide retirement benefits, although it will usually also provide death benefits. These plans first became available on 1 July 1988 and replaced ...
The National Employment Savings Trust ( Nest) is a defined contribution workplace pension scheme in the United Kingdom. It was set up to facilitate automatic enrolment as part of the government's workplace pension reforms under the Pensions Act 2008. Due to its public service obligation, any UK employer can use Nest to meet its new workplace ...
The Local Government Pension Scheme (LGPS) is one of the largest public sector pension schemes in the United Kingdom, with 6.4 million members from 15,000 employers. It is a defined benefit pension plan. Administration is carried out through 89 regional pension funds such as Greater Manchester Pension Fund and London Pensions Fund Authority.
It is a tax deferred savings vehicle that allows for the tax-free accumulation of a fund for later use as retirement income. Funding can be provided in other ways, such as from labor unions, government agencies, or self-funded schemes. Pension plans are therefore a form of "deferred compensation". A SSAS is a type of employment-based Pension in ...
Scottish Parliamentary Pensions Act 2009. Self-invested personal pension. Small Self Administered Scheme. Social Security Contributions and Benefits Act 1992. Stakeholder pension scheme. State Earnings-Related Pension Scheme. State Pension (United Kingdom) State Second Pension. Superannuation Act 2010.
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related to: types of uk pension schemes