Numbers / dates to memorise Flashcards
(21 cards)
The Foundation Finance Acts
1916 and 1921
The New Code Finance Act
1970
The Simplification Finance Act
2004
Pensions Freedom and Choice Acts
Finance Act 2011 and Taxation of Pensions Act 2014
A day
6 April 2006
Initial minimum income requirement
£20,000 pa
Date change for new State Pension
6 April 2016
Start of auto enrolment
1 October 2012
When was default retirement age 65 abolished
1 October 2011
SPA rise from 65 - 66
Between 2018 and 2020
SPA rise from 66 - 67
Between 2026 - 2028
SPA rise from 67 - 68
Between 2044 - 2046
2020/21 new State Pension
£175.20 pa
Qualifying years to receive full BSP
35 years
Total ISA annual limit
£20,000 pa
When were new Money Purchase flexibilities introduced
April 2015
From when did DC SIPs need to be published online
1 October 2019
From when did implementation statements need to be published online
1 October 2020
What is the pensions advice allowance
£500 from a pension pot, once per tax year, max three times
Max compensation the Financial Ombudsman can award
£150,000
PPF compensation
100% of bens for those over NPA or in receipt of ill health / dependants pension. For others, 90% of benefits subject to an age related cap. 2020 cap is £41,461.07 pa.
