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BeeHive  >  BeeLines  >  2009  >  Feb  >  More HMRC updates on pensions

More HMRC updates on pensions

Hmm!  Not a newsletter from HMRC this time, but some important info nonetheless.  Two things popped up on our regular trawl through the ever-fragmenting web today, both of which you may need to know about.

To start with the Notional Earnings Cap for 2009/10 will be £123,600.  There’s a link to the full SP on it here: Pension Schemes: Notional Earnings Cap 2009/10

Second, and following comments the HMRC have apparently received, they have added a link to the completion notes in the guidance on Lifetime Allowance Protection.  Here’s the link: Lifetime allowance protection notification guidance

The looming deadline of 5th April 2009 makes this quite important I’d say. (Mind you, this HMRC update confusingly talks about the 5th April deadline and yet another deadline of midnight of the 6th April!  It depends what you mean by 'deadline' I suppose; perhaps the first one's just a mortally-woundedline and the second really is a dead one. Who knows? Anyway, as I say, it's all explained if you follow the link.) 

As an aside, we also found some interesting information on the pension scheme for MPs.  Did you know that the employer contribution is 26.8%?  Me neither.  I put a link to it on www.twitter.com/pensionsguru with loads of other details of the scheme.  It’s all worth knowing; you never know what will come up in a quiz night these days do you?

Steve Bee

20 February 2009

Source: www.hmrc.gov.uk

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