Gabriel, Roeder, Smith & Company’s Post

The lifetime allowance abolition brought a whole new world of complexity – especially when testing pension benefits 🤔 That’s why we’ve created this Bitesize Technical episode to explain the new rules in the simplest way possible. Our Senior Technical Consultant, Lisa Webster shares insight on: ✔️ when benefits are tested in the member’s lifetime ✔️ how the new allowances work, and; ✔️ how death benefits are tested. Learn more now: https://lnkd.in/eyhnSHdH

Our next webinar in our RetireWell series is ‘Passing on Your Pension’. Share the link to our calendar with your employees - It’s easy to sign up and attend our sessions: http://spr.ly/60475phpl This next session will help your employees understand the importance of getting their affairs in order earlier rather than later. They’ll learn about what happens to pension funds when someone dies, any tax implications, updating their beneficiaries, and how Scottish Widows offers support if the unexpected happens.

The Finance Bill 2024 was published today, with changes to the rules on pension funding through a PRSA. From 1st January 2025, employer PRSA contributions will be capped at 100% of salary rather than the current regime of unlimited contributions. Significant changes of this nature demonstrates more than ever the importance of expert advice. Should you wish to discuss the impact of this change, or any other aspect of financial planning, the Lockton Ireland team would be happy to assist you. #PRSA #retirementplanning

Contributors to voluntary pension can now access the contingent portion (50% of contribution) of their voluntary contributions after one (1) year from the date the contribution was made. This is a revision to the previous requirements which specified a minimum of two (2) years from the date of contribution or at expiration or termination of contracts with respect to mandatory and non-mandatory contributors respectively. 

December is often the month when employees in the city find out their hard-earned bonuses. Typically, there will be an option to have this paid out as cash or to waive it, so it goes directly into one’s pension. Edward Backhouse FPFS’s blog explains the things to be aware of when considering a bonus waiver. Read our blog: https://lnkd.in/dGw_yfvC #DecemberBonuses #BonusWaiver #PensionPlanning #EmployeeBenefits #FinancialWellness #MoneyMatters #WorkplaceFinance #EdBlog #SmartInvesting #CashVsPension 💰📈

We’ve received several queries from advisers on how pension benefits will be tested following the introduction of the new rules 📱 A test will take place once a relevant benefit crystallisation event occurs, but what if your client has already taken PCLS? There are several key factors that are considered when determining how the maximum amount of PCLS is calculated. Our Senior Technical Consultant, Lisa Webster, discusses it in simple form in this Bitesize Technical video: https://lnkd.in/em9-FAui

UK government believes megafunds are the way to boost public sector pension pots, others are not so sure, Liz Booth reports in the PFP Magazine. Read more here: https://ow.ly/1E6j50UaYem

Our latest newsletter at Cleveden Park Wealth dives deep into optimising your salary, dividends, and pension contributions to maximise your financial gains. Learn how a strategic salary of £12,570, dividends of £37,700, and a £60,000 pension contribution can enhance your tax efficiency and boost your financial health. Contact us today to book your consultation! 🌟 https://lnkd.in/eBH_b9yJ #ClevedenParkWealth #FinancialPlanning #BusinessOwners #InvestSmart

Here's one reason why HOOPP (Healthcare of Ontario Pension Plan) is amongst the best pension plans in Canada

For high-earning corporate directors, ensuring you’re making the most of all available allowances on your pension could mean saving a considerable sum towards your future. Read the full article here: https://buff.ly/3QrZaMo #financialplanning #director #partner #sjp