Adviser business models ‘must adapt’ to clients’ complex retirement needs
Advisers need to overhaul and update their business models to adapt to changing demographics of retirees whose financial make-up is becoming more complex, delegates heard at PA360 Digital on Wednesday...
View ArticleLisa Webster: Beware over-taxation when accessing a pot
With the threat of further restrictions looming and the end of the job retention scheme at the end of October (with the replacement support scheme only available to “viable” jobs), more over 55s may...
View ArticleChris Read: Lockdown lessons from astronauts
Autumn storms herald a Covid-19-inspired recession. Value has been squeezed out of the investment world as more stocks slash dividends. Short-term opportunities to realise value are increasingly...
View ArticleAdvisers risk ‘destroying business wealth’ by ignoring next generation
Advisers who fail to build relationships with clients’ family members risk destroying the value of their business as wealth is passed on to the next generation, delegates heard. Schroders intermediary...
View ArticleClaire Trott: Start your tax year-end planning now
With the deadline for the Mandatory Pension Savings Statements having just passed (6 October) now is a great time to start to consider any available unused annual allowances and making the most of...
View ArticleStrict financial advice rules leave pension savers open to ‘ingenious’ scammers
Strict rules which prohibit pension schemes from giving financial advice are letting scammers get close to members to perpetrate fraud, according to industry experts. Speaking today (14 October) at the...
View ArticleDB transfers falter as potential scam activity rockets – XPS
Activity in the defined benefit (DB) transfer market fell to a record low in September, while the number of transfers exhibiting scam ‘red flags’ increased to a new high of 62%, according pensions...
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Justin Corliss: Making the case for partial DB transfers
The regulator’s policy statement PS20/6 introduced a number of changes to the provision of defined benefit (DB) pension transfer advice, the vast majority of which came into force on 1 October 2020....
View ArticleCovid-19 likely to trigger triple lock 2.5% fail-safe
The coronavirus pandemic is likely to trigger the triple lock’s fail-safe mechanism, meaning the state pension will rise by 2.5% from next April. On Wednesday (21 October) the CPI inflation...
View ArticleRP case studies: Unquoted shares and a management buyout
Sam founded Ammonite Electronics Ltd 30 years ago and took the business from a one-man band to 50 employees turning over £2.9m per annum. Now aged 65 he is aiming at selling the business to his...
View ArticleRachel Vahey: Why we need a scam prevention minister
Pension scams will never go away. Because an individual can accumulate a significant sum of money in their pension by the time they reach middle age, they will always be appealing to scammers and...
View ArticleTriple lock kicks in; LTA up 0.5%
The triple lock’s 2.5% rule is set to be triggered following a low CPI annual rate and low earnings figures, offering pensioners 2% above inflation. On Wednesday (21 October) the CPI annual rate for...
View ArticleChris Read: Reaching out to Generation Zoom via snail mail
Zoomers, Gen Z or Generation Z, take your pick, are the demographic cohort born between 1997 and 2012. This is the generation that is entering today’s workplace or, more precisely, trying to enter...
View ArticleLow-earners need AE pause button, says TISA
The least financially secure pension savers may be increasing their personal debt levels or foregoing household essentials after paying pension contributions, The Investing and Saving Alliance (TISA)...
View ArticlePension dashboard delayed until at least 2023
The Pensions Dashboards Programme (PDP) has published its second progress update report – setting out a timeline for the development of the project and revealing the dashboard would not be ready to be...
View ArticleWorkplace schemes mandated to ‘nudge’ members into pensions guidance
Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement. In a policy statement released on Wednesday (28...
View ArticleCurtis Banks completes £25m Talbot and Muir acquisition
Curtis Banks has completed the acquisition of Talbot and Muir after receiving regulatory approval from the Financial Conduct Authority. Talbot and Muir, an independent self-invested personal pension...
View ArticleWPC chair submits Pensions Bill amendment to pushing pre-retirement guidance
Work and Pensions Committee chair Stephen Timms has submitted a formal amendment asking for more to be done to nudge savers to access pensions guidance as they approach retirement. Last week (28...
View ArticleJessica List: The devil is in the (missing) details
At the end of September, the Financial Conduct Authority (FCA) published its Retirement Income Market Data for the 2019/20 tax year, giving insight into how consumers are using the pension freedoms...
View ArticleNumber of people planning to work post-state pension age drops – research
The number of people planning to work after state pension age has dropped from 71% in 2019 to 51% this year, according to Canada Life research. The provider said this was the first year the number of...
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