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Blog: Is the tax-free lump sum still appropriate?
UK pensioner’s love affair with the tax-free lump sum appears as strong today as it did thirty-one years ago. Back then, despite very strong rumours to the contrary, the then Chancellor, Nigel Lawson,...
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Carry forward and the tapered annual allowance explained
Many high net worth investors will see their annual allowance restricted by the new tapering rules this tax year. The carry forward rule, which allows investors to use ‘leftover’ annual allowance from...
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Are savers really failing to shop around in drawdown?
Professional Adviser Poor rates of shopping around have long plagued the annuity market. In fact, the failure by the industry and policymakers to remedy this problem was part of the reason chancellor...
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Keeley Paddon: What are the key points of Pensions Schemes Newsletter 78?
Professional Adviser At the end of May, HM Revenue & Customs (HMRC) issued Pensions Schemes Newsletter 78 – and it was substantial, to say the least. I would always recommend reading HMRC updates...
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Brexit: Financial services sector to clients –‘Don’t panic’
Financial services organisations are urging advisers and their clients ‘not to panic’, and to ‘continue to abide by EU law until further notice’, following the UK’s vote to leave the EU and subsequent...
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NEST will lift restrictions on trustees in light of freedoms
The National Employment Savings Trust (NEST) has confirmed it will lift restrictions on trustees as part of its response to the consultation on planned scheme rule changes. The consultation which...
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Advisers ‘aren’t interested’ in secondary annuity market, APFA warns
The launch of the secondary annuity market should be delayed due to post-Brexit market uncertainty and lack of interest from advisers, according to the Association of Professional Financial Advisers...
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LISA withdrawals should cover redundancy and critical illness – TISA
Lifetime ISA (LISA) withdrawal events should be expanded to include redundancy and critical illness, according to research from the Tax Incentivised Savings Association (TISA). Penalty-free access to...
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Mark Duckworth: Financial advisers are facing ‘golden moment’
An abundance of potential clients and relatively little competition from elsewhere are combining to create “a golden moment” for the UK’s financial advice sector, believes Openwork chief executive Mark...
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Brexit fallout: What’s on the horizon for pension schemes?
The UK electorate’s historic decision to leave the European Union (EU) has come as a huge surprise. As predicted by experts, the majority Brexit vote led to falls in the equity markets and gilt yields...
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Claire Trott: Why ‘old school’ shouldn’t be dismissed lightly
Pension freedoms tend to lean towards schemes that are seen to be modern and new, new products and new retirement ideas but there are still schemes that have always been flexible enough to deal with...
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Pension experts attack ‘deceptive’ auto-enrolment policy
Pension experts have attacked auto-enrolment as “a glorified ISA” and a “pointless scheme”, warning savers will never get a decent retirement pot due to low contribution rates. Speaking during the...
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Labour: We will ‘secure future of pensions and economy’after Brexit
The Labour Party has vowed to ensure the fallout from Brexit does not undermine the sustainability of the UK’s economy and pensions system but warned the country faces “serious times”. Speaking at...
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BHS pension ‘debacle’ should be catalyst for change
I’ve always enjoyed shopping at BHS so it was sad to see them go under after 88 years of trading. I felt for the 11,000 staff, many of whom will now lose their jobs and take a cut in their pension...
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Talbot and Muir revamps SIPP with tiered charging structure
Talbot and Muir has launched a new self-invested personal pension (SIPP), which will bring together features of existing products the Elite Retirement Account and Simple Retirement Account and...
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Pension and robo-advice demand sparks fractional EFT dealing services
Investment services providers are beginning to offer fractional share dealing on exchange-traded funds (ETFs) to meet investor demand for lower entry levels on the vehicles. Currently, most platforms...
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Pension scams: Top five tips to help clients spot fraudsters
Giving clients clear and concise information is an effective way to help them spot pension scam warning signs and avoid the fraudsters. Here, campaign group Pension Life outlines the top five things...
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Old Mutual Wealth caps pension exit fees at 1%
Old Mutual Wealth is to bring its pension exit fees attached to older style contracts down to 1% for all customers aged over 55. The Financial Conduct Authority and Department for Work and Pensions...
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Brexit will reduce retirement income choice, Aegon warns
Gilt yield reductions caused by Brexit may deter savers from buying an annuity and see their pension choice limited to drawdown, Aegon’s head of pensions has said. This comes after a surprising...
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Less is more: Drawing the line on DC fund choice
Reducing consumer choices can greatly reduce anxiety, so argues psychologist Barry Schwartz in The Paradox of Choice. In his case, American shoppers were the group in focus. However, more defined...
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