Regulations issued on 7 October 2024 will change (again) the requirements for calculating whether a member may be paid a trivial commutation lump sum (TCLS). The Pensions (Abolition of Lifetime ...

The Rexam Pension Plan has carried out a trivial commutation exercise, contributing towards a reduction in total membership as defined benefit schemes are trying to reduce costs. Trivial commutation ...

From the blog: Most pension schemes are considering derisking and most of those are considering trivial commutation. Why? Probably because it seems like the pension scheme equivalent of decluttering – ...

Pre-Budget, the maximum value of a pension that could be trivially commuted was £18,000 (or 1 per cent of the 2011 to 2012 lifetime allowance of £1.8m). Before the Budget, Andrew Tully, pensions ...

The fact that every provider does not have to offer trivial commutation is a key issue, says Andrew Tully, pensions technical director of MGM Advantage, who says the change in triviality is subject to ...

The Government has frozen trivial commutation at its current level of £18,000, breaking the link with the lifetime allowance. The decision was revealed as part of the Government’s outline of its ...

The Government is facing growing calls to reform pensions trivial commutation rules ahead of the Budget. Current rules allow people over 60 years old with total defined-benefit and ...

HM REVENUE & Customs is examining alternative methods of taxing trivial commutation lump sums in a bid to make the process easier, PP can reveal. Currently a member with a pension fund eligible for ...