‘DWP refusing to engage with state pension underpayment strugglers’– MPs
The Work and Pensions Committee chair Stephen Timms MP has said the DWP is still “refusing to engage” with pensioners who missed out on getting their rightful state pension entitlements and are...
View ArticleKirsty Anderson: Why centralised retirement propositions shone in 2020
A centralised retirement proposition is no longer a new concept. We’ve all been talking about the importance of this for some time now and that’s clearly reflected in the most recent benchmarking...
View ArticleRP Case Study: Purchasing plots through pension pots
The situation Emil has seen a plot of land for sale for £75,000. The land is in an area that Emil thinks could be an important site for development in the future. He would like to purchase the land,...
View ArticleAdrian Boulding: Five benefit statement pointers and one to avoid
As pensions minister Guy Opperman progresses his plans for a benefit statement ‘season’ – as a proposed short period each year during which all people with a UK pension will receive their annual...
View ArticleChris Read: To Zoom or not to Zoom, that is the question
The verb to zoom is not new to the English language. It means to move with a loud low hum or to go speedily. To make things difficult for those learning English, there is a new verb emerging: to...
View ArticleSteve Butler: Helping the over 55s avoid sleepwalking into retirement
The advice gap for workers in their 50s contemplating the next phase of their career and their retirement plans has been well documented. Since the introduction of pension freedoms in 2015, savers...
View ArticleValue destruction risk at retirement ‘so big’ government must intervene – LGIM
The value destruction of a savers’ pension at the point of retirement is “huge” and personalised guidance is vital to prevent members knocking out years of savings, according to industry experts....
View ArticleKevin Hollister: Exploring member requested DB transfer values
Every member in a private sector defined benefit scheme has the right to request a transfer value at least once a year. This is essentially a calculation of the cash value of the promised retirement...
View ArticleRevealed: 29 steelworkers aged under 30 bring legal claims over DB transfer...
The number of British Steel Pension Scheme (BSPS) members who transferred out under the age of 30 is more than was once thought, RP’s sister title Professional Adviser has revealed. Clark Willmott, a...
View ArticleCovid-19 hits older workers’ retirement saving plans
Some 1.7 million workers in their 50s are saving less for retirement due to the pandemic, latest research from Legal & General (L&G) reveals. The retirement provider has tracked the effects of...
View ArticleChris Parlour: Corporate client options for DB scheme consolidation
Running a smaller defined benefit (DB) pension scheme can be expensive. Moreover, cost pressures often limit the help and support members receive. That’s why the Department for Work and Pensions (DWP)...
View ArticleBarrie Dawson: Winter is gone but the LTA freeze has arrived
With the lifetime allowance (LTA) frozen until the end of the 2025/26 tax year, what does this mean for those who thought CPI increases would save them from LTA excess charges? Stating the obvious, it...
View ArticleStephen Lowe: FCA’s stronger nudge ‘wrong solution at wrong time’
Three years on from the Financial Guidance & Claims Act we finally have sight of how the Financial Conduct Authority (FCA) plans to meet its obligation to increase the numbers taking up their...
View ArticleRoyal London hires former Scottish Tory leader Ruth Davidson
Ruth Davidson MP has joined Royal London’s board as non-executive director, effective 8 June. Davidson previously served as leader of the Scottish Conservative Party from 2011 to 2019 and prior to...
View Article‘Shocking’ figures show quarter of a million get no state pension
A quarter of a million older people who are entitled to some level of state pension are missing out on what is rightfully theirs due to little known rules and claims procedures, according to LCP....
View ArticleClaire Trott: Mixing pensions and property
Many times we hear “my property is my pension” where people are talking about their home or buy-to-let portfolio. However, by combining property and pensions greater tax efficiency can be achieved....
View ArticleChris Read: Come fly with me
The middle of May is fast approaching and there’s a great deal of expectancy associated with further easing of lockdown flowing through the country. I write this article in flight. Above the deep blue...
View ArticleDWP consults on simpler benefit statements for DC pension savers
Pensions and financial inclusion minister Guy Opperman has proposed regulations to introduce simpler workplace benefit statements so that members can better understand them. The draft rules under...
View ArticleJessica List: Five top tips for land purchases
It’s well known that when it comes to commercial property investments, pensions can only purchase the bricks and mortar: anything moveable such as fixtures and fittings aren’t allowed. But what about...
View ArticleLisa Webster: Dealing with an eyewatering tapered annual allowance charge
An adviser had contacted me about a new client. The lady in question had a personal pension, and in the last few years had been making personal contributions of £32,000 net/£40,000 gross to use up her...
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