Cold-calling ban to be delayed until autumn, govt confirms
The Treasury has confirmed the implementation of the pensions cold-calling ban will be delayed until autumn this year. In a statement, the Treasury explained the legislation would be pushed back while...
View ArticleGuy Opperman: Long-term pension reform only works with cross-party support
Just over a year ago, Guy Opperman was appointed pensions and financial inclusion minister, a post he says he “pitched for” and “really enjoys”. He took over the post at a pivotal time for pensions...
View ArticleBob Champion: Who is doing the selling?
Financial products have to be sold. They are not bought. This may be true for savings and investment products which aid the building of wealth and it is certainly true of protection products where most...
View ArticleABI: Do not limit pension dashboard to single government design
The government should allow the industry to develop multiple commercial pensions dashboards instead of a single platform designed by civil servants, according to the Association of British Insurers...
View ArticleAegon completes acquisition of £15bn BlackRock DC businesses
Aegon has concluded the final steps of its takeover of BlackRock’s defined contribution (DC) platform and administration businesses more than two years after announcing the plans. About £15bn of assets...
View Article1825 to develop automated advice for pre-retirees in FCA sandbox
Standard Life’s advice arm 1825 has joined the Financial Conduct Authority’s (FCA) regulatory sandbox to develop an at-retirement automated advice proposition. The FCA said 1825 intends to generate...
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Bruce Kirton: Why current DC communication is ‘not fit for purpose’
The introduction of retirement freedom and choice has made effective employee communications an even greater necessity. The challenge facing defined contribution (DC) members is profound as they try to...
View ArticleMattioli Woods exits DB transfer market blaming soaring PI costs
Mattioli Woods has stopped operating in the defined benefit (DB) transfer market blaming the increased cost of professional indemnity (PI) insurance costs and heightened regulatory scrutiny. The...
View ArticleNational income targets would help boost pension saving – PLSA
The Pensions and Lifetime Savings Association (PLSA) has proposed a number of reforms to boost pensions adequacy, including retirement income targets to show the lifestyle people could afford on...
View ArticleFCA rules out ban on unregulated or non-standard SIPP investments
The Financial Conduct Authority (FCA) has revealed it is concerned about non-standard investments in self-invested personal pensions (SIPP) but has no plans to ban them. In a letter to Work and...
View ArticleRP case studies: Making SSAS work during difficult times
We have a small self-administered scheme (SSAS) that was set up for Sandra and Julian around 20 years ago. The SSAS was initially set up in order to purchase the premises for the business run by them....
View ArticleFOS upholds unregulated investments claims against SIPP provider
The Financial Ombudsman Service (FOS) has upheld a self-invested personal pension (SIPP) mis-selling complaint related to a high-risk investment made within a Guinness Mahon pension. The complaint,...
View ArticleUK pensioners average £3,500 income tax a year, FOI request reveals
Britain’s almost seven million taxpaying pensioners foot an average tax bill of £3,500 a year, analysis of a reply to a freedom of information (FOI) request by Royal London has revealed. The insurer...
View ArticleContingent charging is ‘hangover’ from commission – Paul Lewis
Contingent charging is a “hangover” from commission and should not be used as a payment method, according to BBC journalist and money columnist Paul Lewis. Speaking at The Great Pension Debate II in...
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Bernadette Lewis: Pension planning for international workers
With an internationally mobile workforce, it’s relatively common for existing members to want to continue contributing to a registered UK pension scheme after moving abroad. Member contributions An...
View ArticleRP case studies: Looking back to maximise pension tax allowances
The ability to carry forward unused allowance from up to three previous tax years has given some breathing space to people affected by the tapered annual allowance. However, looking back to the last...
View ArticleAdviser ‘whistleblowing’ drove FCA intervention in British Steel saga
The regulator’s involvement in the British Steel Pension Scheme (BSPS) saga was “heavily influenced” by adviser whistleblowing, according to Financial Conduct Authority (FCA) technical specialist Chris...
View ArticleSecond advice firm linked to British Steel goes into liquidation
Retirement & Pension Planning Services is the second advice firm linked to the British Steel Pension Scheme saga to have gone into liquidation. According to a note on The Gazette, the...
View ArticleRory Percival: Client files must include ‘colour and detail’ to satisfy FCA
Advisers should add colour and detail to client files because the regulator wants to get a feel for the person behind the report, former Financial Conduct Authority (FCA) technical specialist-turned...
View ArticleMartin Tilley: SSAS as an alternate lender
Although as far as economic cycles go, we have seen far worse, advisers looking for alternative sources of finance for their corporate clients often approach us. The ability to borrow from, and...
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