As you may be aware, the Scheme has entered into a number of bulk insurance contracts to match the benefits of a number of its pensioners, and one of these is with the insurance company Scottish Widows Limited (“Scottish Widows”).
Buck, the Scheme’s Administrator, was acquired by Gallagher in 2023, and officially rebranded in 2024. The administrator email address has now been updated to a Gallagher (AJG) address.
On 30th October 2024, Chancellor Rachel Reeves delivered the first Budget by the new Labour Government. Here’s a breakdown of the key pension points and what they could mean for you.
Your pension app, previously known as Orion+, has had a facelift and a change of name: it’s now called Gallagher Guide.
Cyber scams in the UK are unfortunately becoming more common, and scammers’ techniques more sophisticated. This is a serious issue that can have devastating consequences for individuals’ finances, including pensions. Here are some actions you can take to avoid falling foul of scammers online.
On 6 March 2024, Chancellor Jeremy Hunt delivered his Spring Budget, setting out the Government’s key commitments and objectives for the UK economy.
While 2023’s Budget contained significant changes to pension taxation, there were no such announcements this year. Instead, the main takeaway for pension schemes was a push to deliver better value for savers and increase investment in the UK economy.
From 6 April 2006 until 5 April 2024, pension savings were subject to a Lifetime Allowance (LTA), which placed a limit on the overall value you could build up across all your pensions before having to pay additional tax. For the 2022/23 tax year, the LTA stood at £1,073,000.