David Simpson: Using technology to fully unlock pensions freedom
Until recently, retirement was generally a shift from working full-time to not working at all and needing a complete replacement income. Except for the very wealthy, an annuity which gave a guaranteed...
View Article‘Coronavirus fears drive DB transfer value rise in February’
Defined benefit (DB) transfer values rose during February as a result of market turbulence caused by the coronavirus, according to XPS Pensions Group. XPS Pension Group’s transfer value index (TVI)...
View ArticleAnna Sofat: Why women are opting out of corporate culture
Women drop out of corporate culture at an average age of 38, leading to a “talent drain” from companies in the investment industry, Addidi Wealth’s Anna Sofat told delegates at the inaugural Women in...
View ArticleHilary Banks: Financial services must adapt to better serve female clients
Women’s finances have changed hugely in the last 50 years since the introduction of the Equal Pay Act 1970, yet the way retirement and investment firms engage with them hasn’t caught up. Women...
View ArticleAndrew Phipps: Why it’s time to put SSAS back on the table
On the face of it, the pool of potential small self-administered scheme (SSAS) clients is quite high. The UK boasted 5.6m micro businesses with nine or fewer employees in 2019, and there will be many...
View ArticleQuilter sets aside £12m to cover Lighthouse BSPS DB transfer claims
Quilter has set aside £12m to cover redress payments to British Steel workers advised to transfer out of their defined benefit (DB) pensions scheme by Lighthouse Group, its annual results revealed....
View ArticleBudget 2020: Chancellor ups tapered annual allowance by £90k
The tapered annual allowance has been ‘significantly increased’ by Chancellor Rishi Sunak after it left senior NHS staff with hefty pension-related tax bills due to working extra shifts. High earners...
View ArticleOfficial forecasters baffled by continuous pension freedom tax revenues
Pension freedoms are as popular as ever, with those who first took advantage of the freedoms in 2015 still withdrawing funds at a consistent rate, according to data from the Office for Budget...
View ArticleBudget 2020: What are the 10 key takeaways?
1. Tapered annual allowance raised by £90,000 The tapered annual allowance has been ‘significantly increased’ by the Chancellor after the previous rules left senior NHS staff with hefty pension-related...
View ArticleBudget 2020 reactions: Chancellor ‘tore up fiscal rulebook’
In his first Budget, Chancellor of the Exchequer Rishi Sunak “tore up the fiscal rulebook” and delivered a potentially “trend-setting” Budget, according to industry commentators. David Zahn, head of...
View ArticleAdvisers formulate coronavirus portfolio rebalancing battle plan
Advisers are telling their clients to prepare for a “lean year” of investment returns and are providing guidance on how to rebalance their portfolios to best survive the coronavirus crisis. West Riding...
View ArticleCII postpones April exams – Financial planning RO6 and pension transfers AF7...
The Chartered Insurance Institute (CII) is postponing exams that were set to be taking place on the 20, 21 and 22 of April. The professional body said April exams will be postponed until October aside...
View ArticleAndrew Tully: Tapered annual allowance change is ‘sticking plaster solution’
The main pension announcement in the recent Budget saw changes to the horribly complex tapered annual allowance (TAA) rules. Many of us would have liked to see the TAA scrapped altogether and while the...
View ArticleParliamentary group launches to step up action on pension scams
The new All-Party Parliamentary Group (APPG) on pension scams has had its inaugural meeting in parliament to outline its priorities for boosting public awareness around scam risks. The meeting on 16...
View ArticleGovernment delays IR35 reforms until 2021
The government has postponed changes to IR35 tax rules until 2021 to relieve the pressure on businesses during the coronavirus crisis, just a week after the Budget confirmed they would go ahead. The...
View ArticleFive to ten years ‘reasonable’ for pension coronavirus recovery
Savers with less than a decade to go until retirement have a reasonable timeframe ahead for their pension to recover from the market instability caused by the Covid-19 coronavirus, according to...
View ArticleEmployers must meet AE duties amid contribution holiday speculation
The government has said it will “do whatever it takes” to support businesses through the Covid-19 coronavirus crisis, leading to speculation that there could be a short-term change in auto-enrolment...
View ArticleCoronavirus-related fraud causes losses of £970k
Almost £1m of coronavirus-related fraud has been reported to Action Fraud, according to the national crime and fraud reporting centre. There have been 105 cases of Covid-19-related fraud cases reported...
View ArticleEx-pensions minister Ros Altmann calls for six-month pension transfer pause
Ex-pensions minister Ros Altmann has called for pension transfers to be suspended for six months in wake of market turmoil caused by the coronavirus. Altmann said it was “impossible” for pension scheme...
View ArticleSteve Webb urges govt to relax pension rules post-crisis to help savers
Lane Clark & Peacock partner and ex-pensions minister Steve Webb has called on the Treasury to relax rules which could act as a barrier to people aiming to rebuild their pension pots when the...
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