Are DB transfers fundamentally changing how clients find advisers?
One of the first hints of a changing wind in client procurement came from Prudential’s 2017 Adviser Barometer report, which pointed to some surprising changes between in the previous 12 months on where...
View ArticleBaby boomers urged to update providers on later retirement or risk missing...
More than half of baby boomers who have changed their planned retirement date have failed to inform their pension provider, which could mean they miss out on years of financial gain, warned Dunstan...
View ArticleFiona Tait: What MPs need to know about pension freedoms
There were some very good points made in the recent work and pensions committee’s evidence session which, if translated into action, could make a real difference to retirement outcomes. The concern is...
View ArticleAutumn Budget 2017: Lifetime allowance increase confirmed
Budget papers have confirmed the lifetime allowance (LTA) for pensions will increase to £1,030,000 for the tax year 2018/19. The LTA currently stands at £1m and is about to be increased in line with...
View ArticleGeorge Houston: Financial planning for the ‘what if’ situation
I started training for a marathon recently. It will be my third. And my last (yes, I did say that last time too). Training to run that distance is all about a process and I have been lucky enough to...
View ArticleShould salary sacrifice be extended to lower-paid workers?
In his £1bn Autumn Statement raid in November 2016, Chancellor Phillip Hammond restricted many salary sacrifice benefits, which took effect from 5 April this year. Despite speculation for some time...
View ArticleMPs launch inquiry into shelved CDC pensions
The Work and Pensions Committee has launched an inquiry into the merits of collective defined contribution (CDC) pension schemes, and the potential role they could play in saving for retirement. The...
View ArticleFor richer, for poorer: The financial benefits of marriage
As Prince Harry and Meghan Markle announce their engagement, we ask a range of financial experts to explain the monetary benefits of tying the knot – even if the royal couple themselves may not need...
View ArticleMPs to quiz British Steel scheme advisers in pension freedoms inquiry
MPs on the Work and Pensions Committee will ask advisers with clients who are members of the British Steel Pension Scheme (BSPS) to give evidence as part of the inquiry into pension freedoms. The...
View ArticleState pension changes: Key points to share with your clients
There have been several important changes to pensions that have been announced throughout 2017. The uncertainty surrounding Brexit and where the UK economy is heading makes this autumn a particularly...
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Tom Selby: Engagement gap is ‘clear and present danger’ to pension freedoms
There is no mistaking the popularity of the pension freedoms. The last set of government figures revealed more than £14bn has been flexibly withdrawn by 916,000 people since April 2015. Given that...
View Article‘Outpouring’ of adviser support to help British Steel pension ‘fiasco’
British steelworkers have seen an “outpouring” of support from the adviser community offering assistance on a pro-bono basis as they decide whether or not to transfer out of their defined benefit (DB)...
View ArticleOne in nine UK pensioners have deferred state pension
One in nine UK pensioners – more than 1.5 million people – have deferred taking their state pension, according to data held by the Department of Work and Pensions (DWP). As of September 2016, 1.56...
View ArticleUK worst OECD country for state pension provision
The UK pensions system remains relatively ungenerous and unequal compared to other countries, the Organisation for Economic Co-operation and Development (OECD) has said. In its annual Pensions at a...
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Andrew Clare: Dealing with the devil of sequence risk
Bring up the subject of sequence risk in any university finance department and you will probably be met with blank stares but, of course, financial advisers know all too well how important this risk...
View ArticleDefined benefit transfer debate: Is it just a binary decision?
Defined benefit (DB) pension schemes may be vanishingly rare for today’s pension savers, but there is still a generation retiring today with a tricky decision to make. Low interest-rates have left the...
View ArticleAdviser-led British Steel pro-bono operation gets PFS backing
Operation CHIVE, the pro-bono initiative set up to help British Steel workers with their pension transfers, has gained backing from the Personal Finance Society (PFS). PFS chief executive Keith...
View ArticleL&G sells mature savings business to Swiss Re in £650m deal
Legal & General Group is to sell its closed mature savings business to the ReAssure division of Swiss Re for £650m. The insurers said the business being sold was largely made up of retail customers...
View ArticleDB closures pick up pace as PPF records another fall in open schemes
Just 12% of private sector defined benefit (DB) schemes remain open to new members, according to the Pension Protection Fund (PPF). Meanwhile, just 39% remain open to future accrual, the lifeboat...
View Article‘Unretiring’ savers must beware pension tax traps
While nobody could claim the UK’s pension system is straightforward, the way people have approached the transition from working to retirement has historically been relatively simple. The predominance...
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