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Pensions blog

Pensions blog

Prospect's pensions officers blog about the issues that exercise their minds.


Worried man

Further update on cashing in defined benefit pensions

This blog is an update on one written in January, with additional information relevant to members considering whether to cash in the pension they have built up in a defined benefit pension scheme. It is important to read this in conjunction with the earlier blog.


new pound coin

Why it can pay to pay into a pension

The vast majority of employers Prospect deals with have a long history of offering excellent quality pension schemes to their employees. The relatively small number who never previously did so, have been caught up by a relatively new legal duty to enrol employees into a pension scheme and contribute to...


Worried man

Facing a demand to repay pension overpayments?

The civil service pension scheme recently reported that overpayments of £22 million were made to pensioners over many years.


Pound coin

Help with pension tax relief for Scottish members

If you live in Scotland you will be a Scottish taxpayer and pay Scottish Income Tax (your tax code should start with an ‘S’ to reflect this).


Illustration of the importance of pension savings

Update on cashing in defined benefit pension benefits

A major trend in pensions in 2017 was for tens of thousands of members of defined benefit pension schemes to trade in their benefits for a large cash lump sum.