If my employer pays me a bonus or provides me with a non-cash perk I have to pay Benefit in Kind on the value of those perks.
There is a cap on the maximum contribution anyone can make into their defined contribution pension.
Given that the value of many Defined benefit pensions is considerably higher than those maximum contributions allowed for DC pensions should those with the DB pensions be liable for BIK on the difference?
There is a cap on the maximum contribution anyone can make into their defined contribution pension.
Given that the value of many Defined benefit pensions is considerably higher than those maximum contributions allowed for DC pensions should those with the DB pensions be liable for BIK on the difference?