Unregulated introducers slip through cold-calling cracks
Unregulated introducers will still be legally able to approach potential customers face-to-face because the practice is not ruled out by the new Financial Guidance and Claims Act. A letter from...
View ArticleCraig Stokes: Advisers have a ‘third way’ on DB transfer advice
The defined benefit (DB) transfer advice market is undoubtedly in a transitional phase. Which way it will go is hard to determine but there are a couple of certainties – those clients who wish to...
View ArticleRP Forum 2018: Providers should check up on DB transfer advice
Providers have a duty of care to protect those transferring out of a pension, and must take care to check everything is being done correctly, according to LV= sales and marketing director for life and...
View ArticleJason Green: The technology shift in pensions advice
Advice as we know it is changing. The introduction of automated advice solutions and subsequent rise of technology have changed the way in which consumers are saving and engaging with financial...
View ArticleUnion-backed petition forces govt to justify state pension age change
The government will have to justify proposed changes to the state pension age (SPA) after a Prospect petition secured more than 12,000 signatures. The petition – Reverse government decision that will...
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Lee Halpin: Can providers weather the SIPP storm?
Almost three decades ago, the self-invested personal pension (SIPP) was born, but there is no doubt the “do it yourself pension” has reached a pivotal moment in its evolution. “I propose to make it...
View ArticleTPR suspends pension trustee after police fraud investigation
A trustee of the Optimum Retirement Benefits Plan has been suspended by The Pensions Regulator (TPR) following the launch of a police investigation into a suspected liberation scam. Announced today (20...
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RP case studies: Retirement income cashflow modelling
Maurice is 70-years-old and has finally decided that he wants to stop work. He has a self-invested personal pension (SIPP) fund of £230,000 and would like us to tell him how much income he can afford...
View ArticlePension transfers hit record £10.6bn in Q1
Transfers between all types of pension hit a record £10.6bn in the first quarter of this year, latest figures from the Office for National Statistics have shown. Last calendar year’s total of £34.2bn...
View ArticleLater life advisers must broaden approach to suit client needs
Later life advisers should look to broaden their range of services and offer an “ensemble” proposition to better serve changing client needs, delegates heard. Personal Finance Society (PFS) later life...
View ArticleSelf-employed need pension alternative, trade body urges
The self-employed need an alternative to traditional pensions to increase saving levels among the special group of workers, according to the Association of Independent Professionals and the...
View ArticleGovt set to ‘examine’ pensions tax relief system
The government is set to take a close look at the current pension tax relief system, Baroness Buscombe revealed in a speech to the House of Lords last night. The parliamentary under-secretary of state...
View ArticleDWP launches consultation on Pensions Regulator’s powers
A consultation has been launched on granting stronger powers to The Pensions Regulator (TPR) as the government seeks to address “misuse” of flexibilities in the defined benefit (DB) funding system. The...
View ArticleRP case studies: Bonus sacrifice pays pension dividends
Although it is common practice to plan pension contributions in the run up to the tax year-end, it is worthwhile considering your clients who are likely to receive bonus payments throughout the whole...
View ArticlePFS creates ‘Pensions Advice Taskforce’ in wake of British Steel scandal
The Personal Finance Society (PFS) has created the ‘Pensions Advice Taskforce’ to protect consumers from the ‘unintended consequences’ of the retirement freedoms legislation, after the British Steel...
View ArticleFCA: Retirement ‘wake-up’ packs must start at 50
Retirement wake-up packs should start from age 50 to ensure better engagement for customers, the regulator’s Retirement Outcomes Review has concluded. The Financial Conduct Authority’s (FCA) review of...
View Article‘Opaque’ drawdown charging must change – FCA
Drawdown providers could be required to give customers charges in pounds and pence following an in-depth review of the retirement market by the Financial Conduct Authority (FCA) revealed complexity...
View ArticleDrawdown investment pathways will always be ‘blunt tool’
Providers and advisers have broadly welcomed the regulator’s latest post-pensions freedom market study but warned establishing prescribed drawdown investment pathways will never be more than a “blunt...
View ArticleFCA’s ‘investment pathways’ plan ‘won’t work for sophisticated investors’
The Financial Conduct Authority’s plan to introduce drawdown investment “pathways” would not work for a traditional SIPP investor, and would be a costly, unnecessary process for providers to implement,...
View ArticlePension advice claims push FSCS 2017/18 compensation up to £405m
The £405m the FSCS paid out in compensation during the 2017/18 financial year – up from £375m in 2016/17 – included a significant increase in pension advice-related claims. According to the latest...
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