Covid-19 leads to most volatile month for DB transfer values
The coronavirus pandemic led to March being the most volatile month on record for defined benefit (DB) pension transfer values, according to XPS Pensions Group. XPS’s transfer value index (TVI) fell...
View Article‘Scrap triple lock so all ages pay for economic impact of Covid-19’
The triple lock should be scrapped as part of “intergenerational reciprocation” for the costs of battling the coronavirus, think tank The Social Market Foundation (SMF) has said. On Tuesday morning the...
View ArticleAmyr Rocha-Lima on the psychology of retirement part 2: Eight ways to help...
Retirement is an idealistic dream of lazy days, sun-kissed beaches, endless rounds of golf and all the time in the world to get things done. The reality of retirement, for some clients at least, can be...
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Bethany Joslyn: Pensions tax relief 101
In the run-up to the March 2020 Budget there was a lot of talk about possible changes to tax relief on pension contributions. Ultimately, however, nothing changed. With the new tax year upon us and...
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Chris Read: ‘The world has changed, we have all changed’
Where are we? The natural rhythm of the week has gone. The beat of time used to be marked out by a fish and chip Friday, Match of the Day Saturday, pub lunch Sunday and Monday morning meetings. Hope...
View ArticleScottish Widows changes annuity application process amid coronavirus
Scottish Widows has temporarily extended its quote guarantee period and changed how it accepts annuity applications to support advisers and customers during the Covid-19 outbreak. Scottish Widows is...
View ArticleJessica List: Why delayed lump sums might benefit clients
One great thing about pensions is that they’re often a lot more flexible than first thought. I’m not talking about the pension freedoms here, but rather the pension rules themselves. Even when there is...
View ArticleNHS Pension Scheme: Five key points for financial advisers
As NHS retirees return to work, and overtime increases in response to the Covid-19 crisis, there are some key things about current NHS pension arrangements that advisers need to understand. Relaxation...
View Article50 firms drop DB transfer ‘gold standard’ after PI renewal problems
About 50 advice firms have surrendered their pension transfer ‘gold standard’ status after running into issues renewing professional indemnity insurance (PII) on pension transfers, according to the...
View ArticleOn your bike: Tom McPhail exits Hargreaves for e-cycling firm
Long-serving Hargreaves Lansdown pensions expert Tom McPhail is leaving the business in June to work in public relations away from financial services. McPhail (pictured) has been at Hargreaves since...
View ArticleStephen McPhillips: Utilising self-invested pensions during lockdown
It’s difficult to begin any article at the current time without acknowledging the devastating effects of the coronavirus global pandemic. Readers will be only too aware of its effects on their daily...
View ArticleLiberty SIPP goes into administration
Claim-embroiled pension provider Liberty SIPP has entered administration following a number of high-risk non-standard investment claims against it. The company was advised it was insolvent based on the...
View ArticlePension schemes to issue Covid-19 DB transfer warning letters to members
Pension scheme members looking to transfer from a defined benefit (DB) to a defined contribution (DC) pension during the Covid-19 crisis will be warned it is unlikely to be in their best long-term...
View ArticleExtend NHS scheme pays deadline, government urged
The government has been urged to extend the scheme pays deadline for NHS Pension Scheme members in light of the Covid-19 crisis. In a letter to Chancellor Rishi Sunak, health and social care secretary...
View ArticleHow to meet AE duties for furloughed workers
Coronavirus has had a significant impact on the UK and global economies, one which is likely to be felt for months and possibly years to come. Employers are facing many challenges just to keep...
View ArticleJessica List: What advisers need to know about benefit crystallisation
Q: What is a benefit crystallisation event? A: A ‘benefit crystallisation event’, or BCE, is the official term for an action or event which triggers a test against the lifetime allowance. The most...
View ArticleAmyr Rocha-Lima on the psychology of retirement part 3: The impact of retirement
Men and women today may well live into their eighties and beyond. That means retirees in their mid-sixties could have a couple more decades to live. So how do we help our clients to make the most of...
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Chris Read: Why it’s time to ‘think like a freak’
It’s an oft-repeated myth that it takes 21 days to form a habit. Scientifically tested, it actually takes 66 days. Thankfully then, as move into the sixth week of lockdown as I write this, my...
View ArticleTalbot and Muir launch technical webinars for advisers
Talbot and Muir, the independent self-invested personal pension (SIPP) and small self-administered scheme (SSAS) specialist, is providing a series of CPD accredited webinars that can be tailored to the...
View ArticleKeeley Paddon: Exploring pension scheme contributions for furloughed staff
Ultimately, employers may have three options when considering workers during challenging times for the business: Unpaid leave Redundancy Furlough With the first two options, the worker will not benefit...
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