{"id":15885,"date":"2023-12-18T14:12:52","date_gmt":"2023-12-18T14:12:52","guid":{"rendered":"https:\/\/www.isio.com\/?page_id=15885"},"modified":"2023-12-18T14:16:57","modified_gmt":"2023-12-18T14:16:57","slug":"firefighters-pensions-scheme-sessions","status":"publish","type":"page","link":"https:\/\/www.isio.com\/firefighters-pensions-scheme-sessions\/","title":{"rendered":"Firefighters’ Pensions Scheme sessions"},"content":{"rendered":"\n <section class=\" bg-brandGreen \">\n <div class=\"page-header relative bg-no-repeat no-header-image \">\n \n <div class=\"container pb-14 pt-5 md:pt-14 lg:py-0 relative flex h-full items-center \">\n <div class=\"breadcrumb hidden lg:block absolute top-3.5 \">\n <span><span class=\"bc-link\"><a href=\"https:\/\/www.isio.com\/\">Home<\/a><\/span><\/span> <\/div>\n\n <div class=\"max-w-[600px] text-white flex-col text-left pt-16 pb-8 lg:pt-28 lg:pb-20\">\n <div class=\"headings flex flex-col-reverse gap-2\">\n <h1 class=\"mb-4 h1\">\n Firefighters\u2019 Pension Scheme training programme <\/h1>\n <\/div>\n\n \n\n\n <\/div>\n\n <\/div>\n <\/div>\n <\/section>\n\n\n\n<section class=\"wrapper-with-background bg-grey-dient \">\n <div class=\"s-background\">\n \n <div class=\"acf-innerblocks-container\">\n\n<section class=\"text-wrapper text-block small \">\n <div class=\"container\">\n <div class=\"acf-innerblocks-container\">\n\n<p>Pensions specialists Isio will be putting on training sessions in relation to the Firefighters\u2019 Pension Schemes. They cover the McCloud\/Sargeant age discrimination remedy, the Matthews exercise from 1 October 2023 and pensions tax for higher earners.<\/p>\n\n\n\n<p>The sessions are aimed at upskilling those involved in running the Firefighters\u2019 Pension Scheme including finance, HR, payroll and scheme management, including those who support and govern them. They can be accessed together or separately and count as valuable CPD.<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<section class=\"text-wrapper text-block small \">\n <div class=\"container\">\n <div class=\"acf-innerblocks-container\">\n\n<h4 class=\"wp-block-heading\" id=\"h-sessions-1-amp-2\"><strong>Sessions 1 & 2<\/strong><\/h4>\n\n\n\n<p>As well as achieving a greater understanding of the Firefighters\u2019 Pension Schemes and their value you will gain clarity over the remedy situation, what your role and responsibilities are from a legal and moral standpoint.<\/p>\n\n\n\n<p>With greater knowledge and understanding of the remedy situation you will be better placed to take the relevant actions to ensure that your Fire and Rescue Authority (FRA) can better manage workforce and staffing costs, provide the necessary data and information to the administrators to implement remedy and communicate to members efficiently and effectively.<\/p>\n\n\n\n<p><strong>If you or anyone in your organisation would like to attend any of these sessions, please email Colin Dobbie at\u00a0<a href=\"mailto:colin.dobbie@isio.com\">colin.dobbie@isio.com<\/a>\u00a0or call 0141 739 6865.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"400\" src=\"https:\/\/www.isio.com\/app\/uploads\/2023\/12\/Untitled-design-2023-12-18T141502.791.png\" alt=\"\" class=\"wp-image-15895\" style=\"aspect-ratio:1;width:192px;height:auto\" srcset=\"https:\/\/www.isio.com\/app\/uploads\/2023\/12\/Untitled-design-2023-12-18T141502.791.png 400w, https:\/\/www.isio.com\/app\/uploads\/2023\/12\/Untitled-design-2023-12-18T141502.791-300x300.png 300w, https:\/\/www.isio.com\/app\/uploads\/2023\/12\/Untitled-design-2023-12-18T141502.791-150x150.png 150w, https:\/\/www.isio.com\/app\/uploads\/2023\/12\/Untitled-design-2023-12-18T141502.791-95x95.png 95w, https:\/\/www.isio.com\/app\/uploads\/2023\/12\/Untitled-design-2023-12-18T141502.791-354x354.png 354w, https:\/\/www.isio.com\/app\/uploads\/2023\/12\/Untitled-design-2023-12-18T141502.791-170x170.png 170w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/figure>\n\n<\/div>\n <\/div>\n<\/section>\n\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<section class=\"text-wrapper text-block small \">\n <div class=\"container\">\n <div class=\"acf-innerblocks-container\">\n\n<h4 class=\"wp-block-heading\" id=\"h-session-3\"><strong>Session 3<\/strong><\/h4>\n\n\n\n<p>In session 3 you will gain a sound understanding of how the UK Pensions tax regime works, focussing on the annual allowance (AA) and lifetime allowance (LTA), how tax charges are arrived at and the options available to pay for these charges.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-session-4\"><strong>Session 4<\/strong><\/h4>\n\n\n\n<p>Session 4 will help you understand additional AA and LTA tax implications due to the McCloud Remedy, highlighting what actions you will need to take and the timelines when these actions need to be taken.<\/p>\n\n<\/div>\n <\/div>\n<\/section>\n\n<\/div>\n<\/div>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Scopes:<\/strong><\/h4>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-2 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>Session 1<\/strong> will provide the background to the Firefighters\u2019 Pension Schemes and introduce the Pensions Remedy including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>An overview of the different schemes (1992, 2006, Modified 2006, 2015)<\/li>\n\n\n\n<li>A brief history of the McCloud case and the current status of the legal considerations<\/li>\n\n\n\n<li>What is the agreed Remedy and its implications with some examples<\/li>\n\n\n\n<li>The Matthews case and the interaction with the McCloud Remedy<\/li>\n\n\n\n<li>The discussion of common \u2018myths\u2019 and misunderstandings<\/li>\n\n\n\n<li>The implications for Local Pension Boards and Governance<\/li>\n\n\n\n<li>Top-up grant forecasting providing an opportunity to discuss<\/li>\n\n\n\n<li>Next steps for each FRA to consider<\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>Session 2<\/strong> will build on session 1 focusing on the employer considerations of the Pensions Remedy and Matthews case, namely:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The main employer responsibilities \u2013 data provision, use of standardised templates, implementing the remedy and liaising with the pension administrator<\/li>\n\n\n\n<li>How to help employees and raise awareness\/engagement<\/li>\n\n\n\n<li>Outlier groups specifically affected<\/li>\n\n\n\n<li>Succession planning within your organisation<\/li>\n\n\n\n<li>Where to go for information and questions<\/li>\n\n\n\n<li>Communication and engagement with your Workforce<\/li>\n\n\n\n<li>Future issues such as Immediate Detriment \/ Tax consequences<\/li>\n\n\n\n<li>Next steps and actions for each FRA to consider<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-3 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>Session 3<\/strong> is to provide high earners with the knowledge and understanding of how the Annual Allowance (AA) and the Lifetime Allowance (LTA) work within the UK Pensions Tax regime. This will:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Provide detailed information about the AA and the LTA along with case studies.<\/li>\n\n\n\n<li>Explain the mechanics of how the scheme pays option could be used to meet any tax charges in practice.<\/li>\n\n\n\n<li>Explain the protection that has been made available by HMRC in relation to the LTA reduction and corresponding conditions and deadlines.<\/li>\n\n\n\n<li>Provide key factors that employees should bear in mind to assist them in monitoring and planning for these issues in future years (e.g. impact of overtime).<\/li>\n\n\n\n<li>Next steps \u2013 who to contact for more information, where to go for advice, touch on implications of the McCloud Ruling<\/li>\n<\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p><strong>Session 4<\/strong> will build on session 3 focusing on the Firefighters’ Pension Schemes and the tax implications of the McCloud Remedy, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Brief recap of the Pensions Tax regime in the UK<\/li>\n\n\n\n<li>Brief recap of the McCloud Remedy is and what is happening at phase 2 or \u2018rollback\u2019 on 1 October 2023.<\/li>\n\n\n\n<li>Actions required and timescales for historic tax years during the remedy period<\/li>\n\n\n\n<li>Calculation and settling of under\/over payment of tax charges including case studies<\/li>\n\n\n\n<li>Implications for the 2022\/23 tax year<\/li>\n\n\n\n<li>Choice at retirement \u2013 AA and LTA tax implications<\/li>\n\n\n\n<li>Retiring before 1 October 2023<s><\/s><\/li>\n\n\n\n<li>Next steps \u2013 where can you go for more information<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n<\/div>\n <\/div>\n<\/section>\n\n\n<\/div>\n\n <\/div>\n <\/section>\n\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-15885","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - 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