Visit pensionscommstoolkit.railpen.com then filter for ‘BTP’ and ‘Tax’ to check it out.

What does the tax toolkit cover?

The tax pensions toolkit will help you tell your employees about the main tax limits, including:

• The 2 Lump Sum Allowances, which limit the total amount of tax-free lump sums people can get from pension savings. They’re called:
  • –The Lump Sum Allowance (LSA)
  • –The Lump Sum and Death Benefits Allowance (LSDBA).

  For more information on the Lump Sum Allowances, read the dedicated news story in the ‘news items’ section of your Employer Portal.

  You can also find a Read as You Need guide on the Fund member website which explains the Lump Sum Allowances in more detail.

• The other pension tax limits:
  • The Annual Allowance (AA)
  • The Tapered Annual Allowance (TAA)
  • The Money Purchase Annual Allowance (MPAA)
  • The Overseas Transfer Allowance (OTA)

What does the tax toolkit explain?

The tax pensions toolkit explains the pension tax limits and how they may affect members’ pension savings, plus:

• Why saving for life after work with a pension is one of the most tax efficient ways for members to save

   

• How tax relief on pension saving works for members of the British Transport Police Force Superannuation Fund (BTPFSF) - whatever rate of tax members of the Fund pay, they get full tax relief without having to claim it

   

• Why tax relief on pension saving is a good thing, but if members save too much, they might go over certain limits and have to pay a tax charge

   

• It explains the main pension tax allowances members should know about, and how they might affect them and their pension savings

   

• What happens if a member’s pension savings in the Fund are greater than the pension tax limits

…and much more!

What content is included in the tax pensions toolkit?

There’s a mix of resources to give you the best chance to reach all your employees.

The content is covered in various formats, including:

• A document to help you get the most from this toolkit
• A campaign plan
• Informative articles
• Email templates
• Useful infographics
• Attention-grabbing posters
• A suite of social media posts
• Eye-catching web banner
• 4 short videos

It’s entirely up to you how you use the materials in the toolkit

You might share this content on noticeboards in your offices, or you may want to post an article on your intranet or to send an email round to colleagues to help them understand how tax might affect their pension.

We’ve outlined the steps you may want to take if you decide to launch a pension tax campaign with your employees in the campaign plan document.

How to use and access the toolkit content

You can find simple instructions on how to use the pensions communications website and how to download content on your pensions toolkits website.

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