Govt ‘should double’ tax exemption on employer pension advice
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000. The provider urged the government to extend the limit on income tax and...
View ArticleRoyal London to offer guaranteed annuity clients cash swap option
Royal London clients with guaranteed annuity rates will be offered a cash swap deal if a High Court hearing gives the provider the go-ahead. The provider said post-pension freedom many people were...
View ArticleFiona Tait: Why FCA pension numbers paint a sad picture
In between joint reports into retirement, with The Pensions Regulator (TPR) consulting on its approach to enforcement and its long-awaited guidance on pension transfers, the Financial Conduct Authority...
View ArticlePaul Darvill: Expression of wish importance cannot be overstated
While the start of a new tax year is a time when you may be contacting your clients to ensure they make the most of their new pension and ISA allowance, it may also be worthwhile to have a conversation...
View ArticleRP case studies: Taking two bites of the cherry
Ted owns a self-invested personal pension (SIPP) and has always been fiercely independent about managing his investments. He does admit to reading the financial press and scanning the circulars sent to...
View ArticlePeople must engage with pensions far earlier, ABI warns
Pension savers need to engage with their retirement options far earlier than is currently normal to ensure they save enough through their lifetime, according to a report from the Association of British...
View ArticleBob Champion: Retirement income – it’s so simple
A recent exchange on Twitter about the perceived defined contribution pension savings crisis, led to the following response from pensions expert John Ralph: “Long-term solution to UK pensions...
View ArticleJess List: Death benefits may be flexible, but legislation isn’t
There’s no denying that recipients of death benefits have it much better under the current rules than they did before the pension freedoms. The rules might not be quite as straightforward, but death...
View ArticleGareth James: Drawing the default fault lines
The decision making process at the point of retirement has become significantly more complex since the introduction of the pension freedoms three years ago. A majority of new retirees are now shunning...
View ArticleRP case studies: Exit strategies for commercial property in SIPP
Commercial property investment via a self-invested personal pension (SIPP) can be very tax efficient. However, clients do worry about what will happen when they want to retire or if they were to die...
View Article£17.5bn pension freedom figure ‘fails to reflect big picture’
Figures from HM Revenue & Customs (HMRC) suggest almost £17.5bn has been flexibly withdrawn since the inception of pension freedoms, but that numbers do not reflect ‘the bigger picture’, according...
View ArticleBig chance PI for DB transfers will disappear, advisers warned
There is a “big chance” professional indemnity (PI) insurance for advising on defined benefit (DB) transfers will disappear, Nigel Chambers told delegates at the inaugural PA360 conference. Speaking at...
View ArticleGovt sees 1000% tax increase from lifetime allowance since inception
The annual amount of tax collected from people exceeding the lifetime allowance has jumped 1,000% since its introduction just over a decade ago, a freedom of information request by Retirement Advantage...
View ArticlePaul Speight: What next for long-term savings?
The traditional savings journey towards retirement has been largely torn up. The world of defined benefit pension schemes that provided a regular retirement income has gone. This income was usually...
View ArticleOMW launches mid-priced TVA service after FCA inducement concerns
Old Mutual Wealth (OMW) is to launch a transfer value analysis (TVA) service with a mid-market price-tag, having “paused” its free offering in the wake of the FCA’s concerns relating to inducements....
View ArticleEnd ‘absurd’ tax overpay-and-reclaim system on pensions – Steve Webb
There must be a complete overhaul of the “absurd” pension tax overpay system, according to former pensions minister turned Royal London director of policy Steve Webb. New HM Revenue & Customs...
View ArticleNeil MacGillivray: Pension death benefits and the cost of control
One of my pet hates at the moment is when someone refers to an expression of wish as a ‘pension will’. Such a title, in my opinion, is misleading and gives the impression an expression of wish can...
View ArticleRevealed: The Retirement Planner Awards 2018 shortlists
Retirement Planner is proud to publish the shortlists for its 2018 Awards, the winners of which will be announced on Friday 15 June at a ceremony at The Waldorf Hilton Hotel, London WC2. This is also...
View ArticlePensioners could face added tax to heal ‘intergenerational divide’
A report by the Resolution Foundation has put forth a number of proposals to reduce intergenerational fairness, including upping tax on pensioners and handing millennials £10,000. The report ‘A New...
View ArticleRegulator must not treat advisers like children over DB transfers – Richard...
The Financial Conduct Authority (FCA) should not treat advisers like children by maintaining the unsuitable transfer advice assumption, Richard Parkin told delegates at last week’s PA360 conference....
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