WPC chairmanship in doubt as Field resigns Labour whip
Veteran parliamentarian Frank Field has resigned the Labour whip to serve as an independent Labour MP, sparking uncertainty over his role as chair of the Work and Pensions Committee (WPC). His...
View ArticleLISA underperforming against govt expectations – HMRC figures
Fewer Lifetime ISAs (LISAs) were opened in the 2017/18 tax year than the government expected while the average amount invested was also below expectations, according to data from HM Revenue &...
View ArticleAdvisers need ‘safe harbour’ to carry out DB triage process, says Webb
The FCA should provide a “safe harbour” for advisers to undertake early-stage conversations on defined benefit (DB) transfers that will not put them at regulatory risk, Royal London’s Steve Webb has...
View ArticlePrudential agrees annuity referral deal with HUB Financial Solutions
Prudential is expanding the range of annuity products available to customers through a new distribution agreement with HUB Financial Solutions, which is part of Just Group. The move will give...
View ArticleMore than half not saving into a pension blame low income
Lack of adequate income is increasingly to blame for why people do not choose to save towards retirement, according to research by Equiniti. In its analysis of the Wealth and Assets Survey, a...
View ArticleFour in 10 trustees say DC investment strategies are less sophisticated than...
Some 42% of defined contribution (DC) trustees believe that their investment strategies are ‘less sophisticated’ than those used by defined benefit (DB) schemes, according to a Hymans Robertson survey....
View ArticleEsther McVey allays dashboard fears and backs industry to deliver
Work and pensions secretary Esther McVey has backed the pensions industry to deliver the pensions dashboard after months of uncertainty surrounding the project. In July reports emerged that McVey was...
View ArticleConcerns remain over govt support for dashboard after McVey’s statement
The government’s announcement that it will support the industry in delivering the pensions dashboard has been met with mixed reaction, after months of uncertainty about the project’s future. Work and...
View ArticleECJ rules PPF compensation must amount to 50% of members’ benefits
The Pension Protection Fund (PPF) must ensure it pays out at least 50% of individual entitlements to members whose funds were absorbed into the lifeboat fund, the European Court of Justice (ECJ) has...
View ArticleMartin Tilley: How to solve SSAS registration woes
Advisers must plan well in advance where their clients intend to establish a new small self-administered scheme (SSAS). HM Revenue & Custom’s (HMRC) pension schemes newsletter 101, issued last...
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Average regular pension withdrawal rate jumps from 4.7% to 5.9% – FCA
The average annual pension withdrawal rate jumped more than one percentage point between 2016/17 and 2017/18, according to the latest data from the Financial Conduct Authority (FCA). The regulator’s...
View ArticleRP case studies: Using trusts to retain death benefit control
The ability for pension benefits to be passed down through multiple generations is one of the big draws of the current death benefits rules in defined contribution pensions. However, what happens if a...
View ArticleKerry Nelson: The advice implications of phased retirement
Not only could the lack of a set pattern for retirement help clients in important ways, writes Kerry Nelson, it is also another excellent opportunity to get the message across about the benefits of...
View ArticleAnthony Rafferty: Pensions dashboard not just about legacy products
Being steeped in the development of the pensions dashboard as we are at Origo, I pay keen attention to the articles and arguments around the subject. It has been noticeable that recently the number of...
View ArticleEsther McVey allays dashboard fears and backs industry to deliver
Work and pensions secretary Esther McVey has backed the pensions industry to deliver the pensions dashboard after months of uncertainty surrounding the project. In July reports emerged that McVey was...
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Average regular pension withdrawal rate jumps from 4.7% to 5.9% – FCA
The average annual pension withdrawal rate jumped more than one percentage point between 2016/17 and 2017/18, according to the latest data from the Financial Conduct Authority (FCA). The regulator’s...
View ArticleGovernment scraps delayed NIC tax cut for self-employed
The government has scrapped its already-delayed plans to give the self-employed a National Insurance contribution (NIC) tax break. The move follows analysis from the Treasury that found around 300,000...
View ArticleLee Halpin: The business funding opportunity hidden in plain sight
If your client was looking to raise external finance for their business, who would they call? This was a question the British Business Bank (BBB) probed a couple of years back in this survey of UK...
View Article‘Scrap AE in no-deal Brexit to help businesses’, suggests home secretary
Home secretary Sajid Javid has called for auto-enrolment (AE) to be scrapped as part of a “shock and awe strategy” should the UK fail to reach a Brexit deal, according to reports. This was one of...
View Article‘Radical shake-up’ brings one-to-one TPR supervision to 60 schemes
The Pensions Regulator (TPR) will double down on its supervision with hundreds of schemes expecting increased oversight, while more than 60 will be subject to dedicated, one-to-one supervision. The...
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