ARTICLE · 01 JUNE 2016

Pensions Ready Reckoner - May 25, 2016

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Reduction in Lifetime Allowance to £1 million from 06/04/2016 subject to rights to elect for protection (in force under special procedure).

United KingdomEmployment and HR

Key recent developments in occupational pension schemes.

Parliament

Statutes	Status	Content
Finance Bill 2016	Second reading in House of Commons took place on 11/04/2016	Reduction in Lifetime Allowance to £1 million from 06/04/2016 subject to rights to elect for protection (in force under special procedure).
Pensions Bill 2016		Governance of Master Trusts Cap on early exit charges and removal of unreasonable barriers for those wishing to flexibly access their benefits Merger of Pensions Advisory Service,, Pensions Wise and the pension services offered by MAS
Lifetime Savings Bill 2016		Framework for LISAs.

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