Income tax
As a UK resident and holder of Australian superannuation funds, you may be wondering if you can transfer your money without incurring UK income tax. Unfortunately, the tax rules for overseas pensions are complex, but the starting point is that income from non-UK pension schemes is taxable in full in
Income tax
The federal government has notified a 10 percent increase in salaries for its employees, including personnel from the armed forces and civil armed forces, as approved in the 2025-26 budget. This hike also includes a 10 percent increase in pensions for government employees. The Ministry of Finance has issued separate
Income tax
Pension savings provide a valuable opportunity to boost retirement savings through tax relief, with higher-rate taxpayers particularly benefiting from this arrangement. For instance, on an annual income of £65,000, placing £10,000 into a pension through salary sacrifice allows the entire £10,000 to go in as a contribution,
Soldiers
The Delhi High Court has ruled that the grant of disability pension to soldiers is a "rightful and just acknowledgement of the sacrifices" during their military service, rather than an act of generosity. The court dismissed the writ petitions filed by the Ministry of Defence against disabled officers
Income tax
The Georgian Pension Agency has implemented a significant change in the pension declaration process, merging it with the personal income tax (PIT) declaration. As of May 2025, employers are required to submit both declarations simultaneously via the Georgia Revenue Service portal by the 15th of the following month. This updated
Income tax
Delays in obtaining probate are a growing concern for executors and families as the administration of estates becomes increasingly complex. New inheritance tax legislation, set to come into force in 2027, will impose income tax on beneficiaries, causing further complications. The current process of passing on defined contribution pensions tax-free
Fraud
The Department for Work and Pensions (DWP) has reaffirmed its vow to combat benefit fraud and error, including reclaiming debts from Personal Independent Payments. In response to an inquiry by Conservative MP Sir John Hayes, DWP Minister Andrew Western detailed new initiatives being put in place to prevent fraudulent activity
Pensions
Labour's Chancellor, Rachel Reeves, has been accused of putting millions of retirees at risk with her tax grabs on pensions, reminiscent of the move by former Labour Chancellor Gordon Brown that effectively killed off final salary pensions in the private sector. Despite Labour's promises to deliver
Pensions
The Labour party has claimed its commitment to the triple lock policy resulted in a significant increase in pensions, stating that they rose by £900 this year alone. However, the actual increase came into effect in April 2024, several months before Labour formed a government. The state pension was increased
Graham, John
Canada's national pension fund, CPP Investments, has been accused of shying away from investing in Canada, with only 12% of its assets invested domestically, down from 55% in 2007. CCP Investments CEO John Graham defends the decision, citing the fund's mandate to achieve a maximum rate
Pensions
Pension reforms aimed at preventing millions from suffering poverty in old age could have devastating consequences for small businesses, it was warned yesterday. The reforms, outlined in a White Paper, include a state-backed pension fund and plans to raise the state pension age to 68. Business leaders fear that the
Pensions
Businesses across the UK are preparing for a significant increase in pension costs following the Treasury Select Committee's endorsement of Lord Turner's proposals for a national savings scheme. The plans, which include mandatory employer contributions, have sparked concern among business groups, with the CBI and British
