What is the ‘net-pay anomaly’ and does it matter to pensions?

In the January 2019 issue of T-C News, First Actuarial’s Henry Tapper explores the ramifications of the ‘net-pay anomaly’ – the fact that payment of tax relief where no tax is paid applies to PRAS (Pension Tax Relief At Source) but not to net-pay pension schemes.

First Actuarial case studies

Usdaw

Trade union Usdaw selected First Actuarial to transform its scheme administration, resulting in improved quality and time-cost savings.

Southern Co-op

First Actuarial's fiduciary management consultants guided the trustees of Southern Co-op through their provider review, delivering fee savings.

Oil and Gas Industry

Oil and gas company DB scheme wind-up resulted in generous transfers for members and £3m surplus for employer, with First Actuarial’s help.