Labour’s new pension plans face ‘serious practical problems’
Labour is set to reveal plans for women born in the 1950s to access a reduced state pension at the age of 64 – a move former pensions minister turned Royal London director of policy Steve Webb said...
View ArticleTom Selby: Is this the start of the fightback against scammers?
To what degree will the government’s planned pension scams clampdown really protect savers and investors? Tom Selby takes a closer look at what we know about the proposals so far. After months of delay...
View ArticleTax-efficient sector frets over ‘impatient’ capital review
The Patient Capital Review consultation closed last week and, reports Scott Longley, the tax-efficient sector is now waiting nervously to see what Chancellor Philip Hammond announces in his November...
View ArticleOver-50s putting family’s finances before retirement – Aviva
One in five (19%) or 1.9 million workers over-50 are juggling their children’s or parents’ financial needs with their own retirement prospects and so face pressure to work for longer, research by Aviva...
View ArticleMoira Warner: A guide to ‘survivor benefits’
Understanding the rules of their pension scheme is essential for those working in the public sector – particularly so, explains Moira Warner, when it comes to what will happen to their pension money...
View ArticleElaine Turtle: What if a client falls foul of the MPAA cut?
With the government confirming it will cut the MPAA, Elaine Turtle considers what it means if a client has already contributed £10,000 or is making regular contributions that will total £10,000 in the...
View ArticleDC membership soars 62.5% in 2016; active membership at all-time high – ONS...
Occupational pension scheme membership hit yet another record high in 2016, with more than 39.2 million saving through their workplace, latest Office for National Statistics (ONS) data reveal. The...
View ArticleONS figures show UK ‘drowning in a sea of small pots’– Adrian Boulding
New Office for National Statistics (ONS) figures show the number of preserved pension entitlements increased by 3.6 million in 12 months, suggesting the UK is “drowning in a sea of small pots”, warned...
View ArticleAdviser clients 39% a year better off in retirement – research
Clients of financial advisers can hope to be almost two-fifths a year better off in retirement than those who opt to take financial decisions by themselves, according to research by Dunstan Thomas. A...
View ArticleAdvisers struggling with lifetime allowance – Pru
Prudential’s Adviser Helpline team dealt with 12,200 adviser enquiries in the first eight months of 2017 – 2,000 more than the same period last year – with the most common topic being the lifetime...
View ArticleDWP fires the Workie Monster
The Department for Work and Pensions (DWP) is set to restart its TV advertising campaign for auto-enrolment next month without its infamous ‘Workie Monster’, Professional Adviser understands. Instead...
View ArticleOver-50s cutting back on essentials to leave inheritance – Saga Money
People in the over-50 age bracket are increasingly cutting back on essentials in their retirement in order to be able to leave a larger inheritance, research by Saga Money has found. This is despite...
View ArticleBernadette Lewis: Drawdown and the second lifetime allowance test
The reduction in the lifetime allowance and the fact more pension scheme members are choosing drawdown mean understanding and planning for the second LTA test is ever more relevant, writes Bernadette...
View ArticleAndrew Pennie: Pension freedom – should we be doing better?
Without giant leaps being made in the provision of, and access to, quality and affordable regulated advice, Andrew Pennie fears pension freedom is likely to become the subject of increasing criticism...
View ArticleFewer than half of DB transfers deemed suitable by FCA
The Financial Conduct Authority deemed fewer than half (47%) of the defined benefit (DB) transfers it reviewed – where the recommendation was to transfer – to be suitable, its latest report has shown....
View ArticleOpperman reiterates AE plans for self-employed
Pensions minister Guy Opperman has confirmed the government plans to auto-enrol the self-employed, while hinting there was “definite scope” to implement Cridland’s midlife MOT. Speaking at Old Mutual...
View ArticleThree-quarters of 35 to 54-year-olds have no will – research
Nearly three-quarters (72%) of UK adults aged between 35 and 54 have failed to make a will, research from Unbiased has found. This figure was the most striking from its findings, the adviser directory...
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Adrian Boulding: DB transfer values and that ‘kerching’ moment
Adrian Boulding considers the reasons DB transfer values are rising so fast and the implications for advisers of the consequent acceleration in the number of DB transfer requests that are now coming...
View ArticleAndrea Rozario: Is equity release the solution for female retirees?
Andrea Rozario looks at some of the reasons why double the number of single female retirees are withdrawing money through lifetime mortgages than their male counterparts. The social divide between men...
View ArticleOver 50s less and less risk-averse – Retirement Advantage
The proportion of over 50s willing to take financial risk has grown over the past year while fewer retirees are concerned about certainty, research from Retirement Advantage has found. The Retirement...
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