If you’re a contributing member of the Experian Retirement Savings Plan (ERSP), you were sent an e-shot in March 2016 explaining the complex tax changes to retirement savings which were introduced by the government in April 2016.

The e-shot included a detailed guide about the changes as well as information about the options available to members who are most likely to be affected, and any action that may be required to avoid a potential tax charge.

As a reminder, you’re most likely to be affected by the changes if:

• your ‘Threshold Income’ exceeds £110,000 pa and your ‘Adjusted Income’ exceeds £150,000 pa (see page 4 of the guide for further details); or
  
  
• you’ve already built up substantial savings from all of your retirement arrangements.

Additional help for affected members

We’re running some further group workshops in association with Lane Clark and Peacock LLP (www.lcp.uk.com) for members who think they’ll be affected by the changes. Places are limited so please contact the Experian Pension team at Capita on 0114 229 8273 or at ExperianPensions@capita.co.uk as soon as possible if you think you’ll be affected and wish to attend or dial into one of the following workshops:
  

• 15 September 2016, Executive Meeting Room 1, Sir John Peace Building, Nottingham
  1pm-2pm and 2.30pm-3.30pm 

• 10 October 2016, Victoria Suite, Cardinal Place, London
  1pm-2pm and 2.30pm-3.30pm  

You can also visit https://experianpensionstaxmodeller.lcp.uk.com  (password: Exper1an) for access to:

• a modeller to estimate what your new tax-free limits might be, based on certain assumptions such as your expected income and retirement savings from all sources; and
  
  
• a series of short videos* to help you understand the tax changes and how they might affect you.

If you know you’re going to be affected by the changes and need to apply for any of the 2016 HMRC protections, you can now do this online at: www.gov.uk/guidance/pension-schemes-protect-your-lifetime-allowance