Pension – HMA Accountants

Why inflation matters when funding pension funds

When planning pension funding, inflation is often acknowledged but not always fully reflected in contribution decisions. Using an average inflation rate of around 5% over recent years helps to

Workplace pensions

Automatic enrolment for workplace pensions has helped many employees to start making provision for their retirement with employers and government also contributing to make a larger pension pot.

The

Inheriting Additional State Pension

The Additional State Pension is only available to those who reached the state pension age before 6 April 2016 and are receiving the Old State Pension. The Additional State Pension is an extra amount

Autumn Budget 2025 – Pension changes

The Chancellor has kept the main pension allowances unchanged but has confirmed a new cap on salary sacrifice arrangements that will apply from April 2029.

There had been heated speculation that the

Check your State Pension forecast

Your State Pension forecast shows how much you could receive, when you can claim it, and how to boost it by filling National Insurance gaps.

The Check Your State Pension forecast service provides a

Tax relief for employer contributions to a pension scheme

Employers can generally claim tax relief on contributions made to a registered pension scheme by deducting those payments as an expense when calculating their business profits. This reduces the amount

What if your pension contributions are excessive?

You can claim tax relief on pension contributions up to 100% of earnings, but exceeding the annual allowance may trigger charges. Tax relief is paid on pension contributions at the highest rate of

What is the pension’s Money Purchase Annual Allowance?

The Money Purchase Annual Allowance (MPAA) is a pension rule designed to prevent individuals from gaining double tax relief on pension contributions. It targets situations where someone withdraws

Pension contributions, net pay or relief at source?

Your pension scheme type affects your tax relief. Workplace pensions offer tax benefits, but the method used, net pay or relief at source, changes how and when you get them. Your employer or pension