Tax One-to-One Member sessions

Length 45 mins

One to one sessions should be offered to members who have identified that they have a tax charge to pay - from their Pension Savings Statement or after attending a group session.

These session are suitable for members who;

  • Wish to understand more about the Pension Tax legislation.
  • Do already, or are likely to exceed the LTA or AA in future.
  • Have other pension savings to take into account.
  • May be eligible for protection.
  • Wish to understand more about Scheme Pays.

The impact of the Annual Allowance and Lifetime Allowance on pension savings can lead to members making decisions about leaving service or opting-out of the scheme and these sessions can play an important part in their decision making process.

The one-to-one session will enable the employee to have an individual meeting with an experienced pensions consultant from KPMG that will last up to 45 minutes. It is recommended that the employee arrives at the session with relevant data in relation to their pension benefits - we will specify what is required. Where possible the consultant will use a benefit modelling tool that will provide an indication of whether the employee is affected. Please note that this tool will primarily allow for benefits within the Scheme(s).

  • The discussion will centre around the how the HMRC thresholds will directly affect the employee and their individual profile of pension benefits, aided by the modeller The aim of the session is to improve the employee’s understanding of the tax charges, how the charge is calculated and consider payment options including the Scheme Pays option where applicable.
  • The second part of the session will provide an estimate of the pensions allowance position in the future and may allow for what-if scenarios.
  • The consultant will outline key options that employees may consider including HMRC LTA protection options and alternative pension savings.
  • A meeting note and high level analysis results (where possible) will be provided to the employee.

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