Honan Financial Services Limited’s Post

Update: Government urged to act following Virgin Media pension case ruling In light of the recent developments surrounding the Virgin Media case, there is growing pressure for government intervention, a move that could significantly impact the defined benefit (DB) pension sector. Read more in the article below 👇 https://lnkd.in/e_VNTsAV #pensions #pensionaudit #accountants

The absence of tax relief under auto-enrolment will be a huge deterrent for many savers. Hopefully those set to be enrolled in the state pension scheme will seek professional advice first to help ensure they start an adequate retirement plan. #autoenrolment #retirementplan #financialadvice #pensions

Amazingly people have lost track of over €500 million of pension assets that they built up in previous employment in Ireland. If you have pension benefits from a previous employment there are a number of options available to you. It's important to take advice to see what is best for you. #FinancialPlanning #FinancialAdvice #Pensions https://lnkd.in/eAaGAMF5

🚨 Big Win for SMSF Sector: Legacy Pension Regulations Untangled 🚨 The government’s decision to separate legacy pension regulations from the $3 million super tax legislation is a huge win for retirees and the SMSF sector. The new regulations, approved on 5 December, offer retirees the chance to restructure legacy pensions, providing more flexibility and time for adjustment. Key Highlights: - Legacy pension holders now have 5 years to restructure. - Limits on pension reserves lifted, offering more options. - A much-needed reform to help retirees effectively manage their savings. 👏 A step towards clarity and flexibility, especially ahead of the July 2025 start for Division 296. 🔗 Read More: https://lnkd.in/g7YFzDNN #SMSF #Superannuation #RetirementSavings #LegacyPensions #TaxReform #FinancialServices #RetirementPlanning #GovernmentRegulations #Australia

After the deep speculation about proposed pension reforms prior to the Autumn Budget, we have pulled together a general overview of the decisions that Rt Hon Rachel Reeves and her team have made on pensions. Many of our clients are company directors and owners, who were concerned about the pre-budget media coverage, the impact of the announcements and the course of action that may now be required.  Have a read through our observations and guidance and please reach out if you would like to discuss the reforms further https://bit.ly/4i2RU65. #Pensions #RetirementPlanning #InheritanceTax #AutumnBudget

In this month's Pensions Insights, we give you our take on the latest highlights in the world of pensions law and policy. Read more for expert insight on case law and the latest news: https://bit.ly/3TuErIG #dwf #uk #pensions #employmentlaw #legal

The budget and pension schemes: time to breathe a sigh of relief   After months of speculation that Rachel Reeves would raise billions of pounds from changes to pensions taxation, the Chancellor left pensions almost untouched. In this article, John Wilson looks at what was – and wasn’t – in the budget and breathes a sigh of relief on behalf of pension scheme trustees, sponsors and members. For more information read our article - https://lnkd.in/d_ZX_tin   #aptia #ukbudget #pensionsadministration

In this month’s edition of The FM Report, ITC’s Glenn Gaughran discusses the recent changes to PRSAs that increases complexity and reduces the ability for people to save for retirement. #PRSA #pensions #retirementplanning #ITC #YourFutureOurFocus https://lnkd.in/gssxiqxu

Our Client Director, Daniel Taylor, shares insights in Pension Funds Online on how the upcoming election might impact pension schemes and what administrators should prepare for. Discover the potential changes and their implications for pension tax policies. Daniel says: “The potential changes to the pension tax regime proposed by different parties highlight the importance of staying informed and prepared. As pensions administrators, we must be ready to navigate these complexities and adapt our processes to ensure compliance and effective member support.” Read the full article: https://lnkd.in/eDjyDCFT #Pensions #Election2024 #FinancialServices #PensionSchemes #TaxPolicies #RetirementPlanning #TrafalgarHouse #PensionFunds #IndustryInsights #ProfessionalTrustee #PensionScheme #Trustee #PensionsUK #FinalSalary #DBPension #DCPension #PensionTrustee

A big thank you to Callum M. at The i Paper for covering today's discussion paper from The Society of Pension Professionals about the Lifetime Provider Model. Thanks also to all those involved in putting this paper together, including Jasmine Smiley, Faye Jarvis, Martin Willis and Steve Hitchiner. Read the i article here: https://lnkd.in/enZK-3wM Read the "Just One Pension?" paper here: https://lnkd.in/eHQavNRC #spp #pension #pensions #retirement #retirementplanning #policy #publicpolicy