Overview

The recent March 2023 budget certainly got pension tongues wagging. With the widely trailed news that there would be an increase to both lifetime and annual allowance, there was a noticeable shock with the lifetime allowance news. LGPS administrators, so used to bad news stories, perhaps could see some much needed breathing space emerge from this news. However, as with all changes this size, many new scenarios and issues need to be considered.

In this webinar, Ian Colvin and Andrew McKerns discuss:

• How we got to this latest pension tax position
• What the expected impact will be for LGPS administrators and the immediate, medium and long term concerns
• Communication needed for Scheme members
• What are the unknown unknowns?
• What the change to the maximum lump sum rules could mean

Detailed answers to these questions will only be known once Treasury releases the necessary legislation, but this webinar provided an opportunity for attendees to think about how their own administrators and scheme members might be affected.

Please get in touch if you have any questions about anything covered.