Maryland Government Finance Officer Association的动态

???Key Pension Updates from the UK 2024 Autumn Budget??? This week, Chancellor Rachel Reeves announced important changes impacting the pensions industry in the UK 2024 Autumn Budget. Here’s a quick look at the highlights?that have an impact in the pensions world: - State Pension Increase: From April 2025, the New State Pension will rise by 4.1% under the Triple Lock, bringing the weekly rate to ￡230.25. - Inheritance Tax on Pensions: From April 2027, death benefits from pension schemes will be subject to inheritance tax, affecting how beneficiaries plan financially. - Employer National Insurance Rise: Employer NI contributions will increase from 13.8% to 15% in April 2025. Pension contributions remain NI-exempt, making them an attractive employee benefit. - Overseas Transfer Changes: Transfers to EEA and Gibraltar schemes will face a 25% tax charge unless residents are based in the destination country. If you would like to find out more about these changes, check out our latest newsletter on our website -?www.lpsystems.com #AutumnBudget2024 #UKBudget2024 #Pensions #PensionIndustry #LPSystems #LifeandPensionSystems #Budget

Leaving Shell – 80-Point Pension Part 2 There are three benefits of reaching the 80-point cliff (immediate pension eligibility). 1) Early Pension. You can start as early as age 50. You will receive 100% of your full benefit if you start at age 60. 2) The Social Security Offset Supplement. 3) The Free 50 survivor benefit. Please keep in mind: You may be able to reach immediate pension eligibility with 70 points if you have 20 years under the 80-point pension, are at least 50 years old, and leave with a special severance. Please see the link in the comments to view part 1.

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For effective pension administration, the accuracy of Personal Identifiable Information (PII) and data in general is paramount. In this article, Heywood Propositions Manager, Phil Needham, highlights the mounting pressure facing schemes and why accurate PII not only matters, but keeping it up to date is essential. We also find out about the challenges and costs associated with inaccurate data, and how specialised software solutions can effectively address these issues. Read the full article here: https://lnkd.in/edPvsWC8

As the Netherlands transitions from Defined Benefit (DB) to Defined Contribution (DC) pension systems by January 2028, every company is affected, necessitating strategic adaptations, so firms must assess their specific situations to determine appropriate actions. Check out our article to dive deeper into the Netherlands' new pension system: https://ow.ly/CPKQ50Tzywn #EmployeBenefits #GlobalBenefits

We are making it easier to manage your client's Pension funds with a streamlined Refresh process. See the link below for the learning Lab webinar for you and team to join and be across the new process!

?? *Pension Auto-Enrolment* is a significant change on the horizon for businesses in Ireland, and employers must understand how to adapt. Starting soon, you’ll need to automatically enrol eligible employees into a pension scheme, contributing alongside them to secure their financial future. This is a positive step for employees but introduces new administrative challenges for businesses. Are you prepared to manage these changes and stay compliant? Join us for a LIVE Webinar next Wednesday, October 30th, at 10 am, where we’ll have one of the great financial experts from our network, Eugene Ryan from MoneyCoach, guide you through what Pension Auto-Enrolment means for your business. We’ll cover essential topics like: - How to update your payroll systems to accommodate the new rules ??? - Key compliance deadlines you need to be aware of ?? - Practical tips for ensuring a smooth transition for both you and your employees ?? ?? This session is designed to be informative and practical, offering expert advice and answers to your questions. Whether you’re a business owner, payroll specialist, or financial planner, you’ll walk away with the knowledge and tools needed to confidently navigate these changes. Let’s work together to ensure your business is ready for the future of pension management. ???? ??? *Limited spots available* – don’t miss out! Register for FREE with our special promo code PBA100 today: https://zurl.co/YuG4 #PensionAutoEnrolment #FinanceProfessionals #PensionShift #RetirementPlanning #BusinessOwners

As the Netherlands transitions from Defined Benefit (DB) to Defined Contribution (DC) pension systems by January 2028, every company is affected, necessitating strategic adaptations, so firms must assess their specific situations to determine appropriate actions. Check out our article to dive deeper into the Netherlands' new pension system: https://ow.ly/f4NC50TA7TO #EmployeBenefits #GlobalBenefits

As the Netherlands transitions from Defined Benefit (DB) to Defined Contribution (DC) pension systems by January 2028, every company is affected, necessitating strategic adaptations, so firms must assess their specific situations to determine appropriate actions. Check out our article to dive deeper into the Netherlands' new pension system: https://ow.ly/MnuC50TFYUz #EmployeBenefits #GlobalBenefits

As the Netherlands transitions from Defined Benefit (DB) to Defined Contribution (DC) pension systems by January 2028, every company is affected, necessitating strategic adaptations, so firms must assess their specific situations to determine appropriate actions. Check out our article to dive deeper into the Netherlands' new pension system: https://ow.ly/69p150TzWbO #EmployeBenefits #GlobalBenefits