Royal London backs free advice vouchers for pension freedom
People looking to access retirement savings using pension freedom should be given access to a free financial advice session funded through a voucher system, Steve Webb has said. Royal London’s head of...
View ArticleGovt’s moves to block cold-calling ban ‘hard to understand’
Government resistance to pension freedom changes that would better protect consumers is “difficult to understand” and must change quickly, MPs have been told. Ex-pensions minister Baroness Ros Altmann...
View ArticleLiz Coyle: Paradise by the pension dashboard light?
Since the concept of the pensions dashboard was first raised in 2015, it has attracted a great deal of interest from the adviser community. Now the Association of British Insurers (ABI) has published...
View ArticleBank of England raises rates for first time in over a decade to 0.5%
The Bank of England showed seven members of the committee voted for a rise while just two members voted for rates to remain at 0.25%. At the last meeting in September, only Ian McCafferty and Michael...
View ArticleJessica List: Addressing pension tax relief Budget rumours
The Budget countdown has begun, and once again contribution tax relief is on the table. This time the rumours began following the appearance of a briefing paper called Reform of pension tax relief. The...
View ArticleTreasury delays NIC hike for self-employed
The Treasury has confirmed it will delay increases to National Insurance contributions (NICs) for the self-employed for a year to April 2019. The NICs bill is set to scrap Class 2 NICs, where those who...
View ArticleCost and trust biggest barriers to over 50s seeking financial advice
Trust and cost are the two main barriers stopping the over 50s from seeking financial advice on their retirement income, research by Retirement Advantage has found. The report Retirement Sentiment...
View ArticleLater life advice model needs to change – FSE panel
The later life advice model needs to change, according to a panel at the Financial Services Expo Midlands (FSE), which said advisers need to be more “holistic” in their offering. Age Partnership head...
View ArticleFriends Life agrees to pay out after pension transfer blunder
Friends Life has compensated a man £500 for causing him “distress and inconvenience” after he lost money when a pension transfer was not properly carried out. According to an ombudsman decision, Mr Y...
View ArticleF&TRC launches first robo-paraplanner for workplace pensions
The Finance & Technology Research Centre (F&TRC) has launched a ‘workplace pensions robo-paraplanner’ designed to support advisers in helping find corporate clients a potential new workplace...
View ArticleClik here to view.
Bernadette Lewis: Employer pension contributions for owner managed companies
Trading businesses get tax relief on expenses that meet the ‘wholly and exclusively for a business purpose’ test. A summary of the key considerations from HM Revenue & Customs’ (HMRC) Business...
View ArticleAJ Bell’s Mike Morrison dies aged 55
Mike Morrison, the well-respected pension and platform expert, has died at the age of 55. Morrison was head of platform technical at AJ Bell. He previously worked for Axa Wealth and Winterthur Life. He...
View ArticleIndustry pays respects to ‘pensions legend’ Mike Morrison
Friends and colleagues from across the financial services industry have paid tribute to pensions expert and all-round good bloke Mike Morrison after his sudden death aged 55. Morrison, who was head of...
View ArticleClik here to view.
Autumn Budget predictions: What pension professionals want
Chancellor Philip Hammond will deliver his next Budget on 22 November. RP has canvased pension professionals to find out what they want to hear (and what they don’t) from Hammond’s first Autumn Budget....
View ArticleDB transfer values hold steady after September dip
Defined benefit (DB) transfer values remained stable throughout October after a turbulent drop in September, according to Xafinity’s transfer value index. Over the course of October, the value of...
View Article‘Ageing Better’ report ‘alarming’ on later-life employment – PLSA
The Pensions and Lifetime Savings Association (PLSA) has described as “alarming” new research from the Centre for Ageing Better on the ‘unemployment trap’ experienced by those aged over 50. The Centre...
View ArticlePension rule stability unlikely as govt seeks to curb costs – Gregg McClymont
Government changes to retirement rules will not stop anytime soon as pension provision and tax relief continue to take up an increasing share of public spending, Aberdeen Standard Investments’ Gregg...
View ArticleObsession with homeownership ‘crowding out’ pensions
Policy pushes and the public’s desire to own a home is resulting in a 15% reduced private pension income at retirement, research has suggested. Households with mortgages see their savings hindered by...
View ArticleJason Hollands: Five areas to watch in the Budget
Chancellor of the Exchequer Philip Hammond goes into tomorrow’s Budget with an unenviable hand. The government has a wafer-thin majority in parliament and has been racked by two Cabinet resignations in...
View ArticleSteve Cameron: Lack of DB transfer clarity still worrying advisers
The attraction of pension freedom, coupled with rocketing transfer values and growing concern over the adequacy of defined benefit (DB) scheme funding, is fuelling demand for advice from those clients...
View Article