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FAMR calls for pensions dashboard by 2019
The financial services industry should give itself a 2019 deadline for the introduction of a pensions dashboard, the Financial Advice Market Review (FAMR) has recommended. FAMR – a joint Financial...
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FAMR: Retirees should get early access to pension cash to ‘pay for advice’
People approaching retirement should be given early access to a small part of their pension pot to pay for regulated financial advice, the Financial Advice Market Review (FAMR) has recommended. The...
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Fair’s fair: Do pensions make sense for millennials?
I learnt a new word a few days ago – ‘millennials’ – and now I realise that in the same way I fit into the world as a “baby boomer” defined roughly by when I was born, millennials were born in the last...
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Budget 2016 predictions for advisers
The government’s reform of the way it awards tax relief on pension contributions has been the star among Budget predictions in recent months. However, a sudden turn of events last weekend pretty much...
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Adrian Boulding: Pension tips for the 2016 Budget
It would be irresponsible to encourage pensions savers to take any radical action such as putting a large lump sum into their pots, or worse, cashing it all in, because of speculation about pensions...
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SIPP providers back commercial property stamp duty reform
Self-invested personal pension (SIPP) providers have welcomed the Chancellor’s move to reform stamp duty on commercial properties. Osborne used his eighth Budget speech to state commercial stamp duty...
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Budget 2016: Pensions dashboard deadline set for 2019
The Treasury has set the implementation deadline for a pensions dashboard for 2019 at the latest. A dashboard for pension savers is a tool which allows them to see all their savings in one place and...
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Govt looks to introduce £500 pension advice allowance
The government is to consult on introducing a £500 pension advice allowance to enable members to withdraw money from defined contribution (DC) pensions to fund financial advice. Budget documents said...
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Govt to replace MAS, TPAS and Pension Wise
The government will replace the statutory guidance providers the Money Advice Service, The Pensions Advisory Service and Pension Wise with new bodies following a further review. The Treasury said it...
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Budget 2016: Osborne launches Lifetime ISA; Raises ISA limit to £20k
Chancellor George Osborne has launched a Lifetime ISA to encourage those under 40 to save for both house deposits and their retirement. Osborne has introduced a Lifetime ISA in a move in what he...
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Small employers are cutting it fine with auto-enrolment
We would not be British if we did not put off what we perceive as a burdensome task to the very last moment or in some instances ignore it completely. This mind-set in the case of the auto-enrolment is...
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When is a term deposit a standard or non-standard investment?
Before A-Day personal pension schemes could only be established by institutions defined by the law at that time. These institutions would include insurance companies, banks, building societies and unit...
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FAMR: Just what the doctor ordered?
The Financial Conduct Authority (FCA) released the Financial Advice Market Review (FAMR) with a bang on 14 March, two days shy of the Budget. Many of the proposals were welcomed – including the...
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Pension positive: George Osborne delivers ‘good Budget for SIPPs’
Just one month ago the pension industry seemed resigned to significant reform to tax relief. With tax relief for the highest earners already curtailed by taper relief, a flat rate of pension tax relief...
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George’s next generation: How to get ‘kids’ investing
It’s no secret ‘millennials’ are struggling. The juggling act of buying a home, starting a family and saving for retirement is harder than it has ever been. Our Chancellor seems to be obsessed with the...
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Aviva launches ten minute auto-enrolment adviser quote and apply system
Aviva has launched an auto-enrolment quote and apply system for business advisers which it says can be completed in ten minutes. The automated system is aimed at business advisers – including...
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Should employers have a role in advice?
Pension freedom has created a greater need for at retirement advice, but consumers also have pressing advice needs around reducing debt and protecting their families. Employers provide a pension, but...
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Misunderstood: Pensions still stack up against the Lifetime ISA
The 2016 Budget was always going to be about new ways to encourage saving and new types of pensions tax relief. Although the Chancellor pulled back from changing the tax relief rules for pensions, he...
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New kid on the block: Advisers’ take on the LISA
Months of speculation about pension tax relief reform was silenced shortly before the Budget when Treasury sources told the media it was “not the right time” for such changes. Much to the relief of...
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Stuck in the advice gap: Will FAMR reach the ‘lost’ generation?
I am not worried about the tax, it is not like it was my money in the first place. I will pay the tax and then buy a flat in Tenerife, which will keep me going for my retirement This is a paraphrased...
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