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Pensions are at the mercy of many areas of legislation and the unintended consequences of this seems to be hitting areas of pensions more and more and things get even more complicated.
The head of a pensions body has pledged to work with regulators to “restore confidence” in SSAS.
SSAS experts must use their knowledge and skill to help clamp down on scams.
Regular readers may recall that my blog in November 2016 focused on HMRC unexpectedly challenging SIPP providers on whether net pension contributions could be made in specie, (that is, a change of legal ownership without any sell/buy transactions), and still receive tax relief.
A-Day on 6 April 2006 ushered in a new taxation regime for pensions, under the heading of Pension Simplification (no sniggering at the back, please).
The Association of Member-Directed Pension Schemes (AMPS) has rejected a call to outlaw SSAS schemes to cut down on pension scams and says it is “stunned” the idea has been proposed.
An executive director at The Pensions Regulator has called for pension transfers to SSAS to be banned.
I have just been reading the appeal of an unauthorised payment charge on a Sipp member where an investment was made into a company and from this investment a loan was made to the member.
The industry body representing Sipp and SSAS providers has handed out a trio of Honorary Lifetime Memberships.
Reduction in the MPAA: a sign of things to come?

Sitting here amidst a post-Christmas lull, whilst tucking into a seventh meal comprised of turkey, my mind naturally drifts to the Autumn Statement consultation about reducing the Money Purchase Annual Allowance (MPAA) from £10,000 to £4,000 with effect from 6 April 2017.
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