Helping housing association employees in higher tax bands

Growing numbers of employees are being hit with tax increases

Reductions in the Annual Allowance and Lifetime Allowance mean that more of your employees may be breaching their pension limits. This can result in significant tax increases for them.

This is most likely to affect your executive team, but it can also impact longer-serving staff with significant service in defined benefit schemes, and should be considered as part of your regular pay review process.

The annual allowance can come as a surprise for pension scheme members. This is because in a defined benefit pension scheme, the additional pension earned each year also depends on any increase in pensionable salary, not just the extra year of service.

How can First Actuarial help?

Our housing pension specialists can help you:

  • Review the pension arrangements of your higher-paid and longer-serving employees
  • Identify employees who may breach the allowances in the future
  • Set appropriate company policies for those employees affected
  • Provide financial education so staff understand their choices.

While responsibility for tax planning ultimately rests with the employee, we know that many housing associations are keen to help their staff by making sure that no more unexpected tax liabilities arise.

Why choose First Actuarial?

First Actuarial is highly experienced in housing sector pensions. We know the benefit structures involved and can quickly model pension arrangements of staff-members affected by this.

Our experience of working with other housing associations means we can alert you to any actions that other employers in the sector may be taking.

We have a highly experienced Financial Wellbeing team, which can work with your affected staff to explain the issues simply and clearly.

We offer good value and fixed fees so you plan your costs in advance.

Get in touch

Get in touch with one of our housing experts to discuss how we can help you.

First Actuarial are very approachable. They’re good at helping managers and Board members digest a very difficult area, and they’ve also been proactive in helping us shape an innovative solution.

- Watford Community Housing case study

First Actuarial case studies

Aster Group

Housing association Aster Group extended its financial wellbeing programme and brought in First Actuarial to deliver a bespoke Retirement Planner, with supporting webinars and one-to-one sessions.

"People love the one-to-ones and are grateful for them. It’s a valuable offering that would otherwise cost them hundreds of pounds. People recognise it as a real benefit."


Royal Mail

The Communication Workers Union (CWU) enlisted the help of First Actuarial when Royal Mail proposed replacing its Defined Benefit pension fund with individual Defined Contribution arrangements.

“I can’t speak highly enough about First Actuarial – their people have been brilliant. The journey has been inspirational, nothing but a positive experience.”


Cheam School

With substantial increases in Teachers’ Pension Scheme (TPS) contributions looming for independent schools, Cheam School looked to First Actuarial for specialist support.

“We had a very good experience working with First Actuarial. I felt that they were always on the end of the phone, available to help and respond to issues as they arose."

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