InvestAcc Pension Administration

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Newcastle Building Society

Newcastle Building Society has changed the interest rate on the 30 Day Notice Deposit Account from 1.50% to 1.00% with effect from 18 November 2010.

November 22nd, 2010

Abolition of Compulsory annuitisation

The new coalition Government has now clarified its proposals for the abolition of compulsory annuitisation announced in their first emergency budget, consultation is underway with the intention that the changes will be introduced from 6 April 2011.

July 29th, 2010

Special Annual Allowance Charge – 2009/10 Limits

The Special Annual Allowance Charge introduced by Finance Act 2009 has been amended by the recent pre-budget report.

December 10th, 2009

Special Annual Allowance and Anti-forestalling Provision

The government has announced its intention that from 6 April 2011 tax relief on pension contributions paid by or on behalf of individuals with an annual income of £150,000 or more will be restricted.

October 29th, 2009

Phasing in of minimum pension age 55 by 2010

All registered pension schemes must adopt a minimum pension age of 55 into their rules by 6 April 2010.

April 23rd, 2009

Newcastle Building Society Credit Rating

Following the Newcastle Building Societies recent downgrading they have issued the following information:…

April 15th, 2009

Newcastle Fixed Rate Account

In view of the unprecedented Bank Base Rate drop yesterday Newcastle Building Society have withdrawn the 6 month fixed rate account with immediate effect.

November 7th, 2008

Appropriate Scheme Certificate

The Minerva SIPP has now received Appropriate Personal Pension Scheme status under ASCN 7001427T and is now able to accept transfers in of Protected Rights.

October 13th, 2008

Newcastle Building Society Positioning Statement

Due to the current instability in the banking system the Minerva SIPP has sought from the Newcastle Building Society their present position, which is detailed in the following statement:

October 13th, 2008

Self Investment of Protected Rights

HMRC have today announced that protected rights benefits may be held within SIPP’s and used for self investment purposes with effect from 1st October 2008.

June 27th, 2008

Changes to the Basic Rate of Income Tax

The basic rate of income tax will be reducing from 6th April 2008. The Budget Report 2007 announced that the basic rate of income tax would be reduced from 22% to 20% from 6th April 2008, the higher rate of 40% will remain the same whilst the starting rate of 10% will be removed completely.

March 6th, 2008

Government Plans to Abolish Contracting Out

Provisions contained in Finance Act 2007 are the first step to the Government abolishing the option of Contracting Out of the State 2nd Pension in the form of Protected Rights benefits.

November 19th, 2007