Advice firm revamps DB transfer service following FCA guidance
Advice firm Tideway has revamped its defined benefit (DB) transfer offering after the Financial Conduct Authority (FCA) “made it clear” it wanted firms to perform a “fully joined-up” service. For its...
View ArticleAdrian Boulding: Personalising pensions to engage ‘Generation K’
Just last month, I was lucky enough to attend the Pensions and Lifetime Savings Association’s Annual Conference in which internationally-renowned economist, TED Talk giver and five-time author Noreena...
View ArticleMalcolm McLean: WASPI campaign continues – but to what end?
State Pension Equalisation Day on 6 November has come and gone, but the campaign in support of those women born in the 1950s who have experienced changes in their state pension age carries on. Both...
View ArticleRising SIPP and DB transfer claims to force extra £69m FSCS levy
The Financial Services Compensation Scheme (FSCS) has forecast an additional levy of £69m due to rising SIPP and defined benefit (DB) transfer claims. In its November outlook, published on Wednesday...
View ArticleJohn Lawson: The next step of the retirement outcomes review
The keenly-awaited retirement outcomes review paper was published in June, after much speculation over what it would contain. Now the dust has settled it’s clear that, in general, the paper contains a...
View ArticleThe future of retirement income solutions
There has been a growing demand for better retirement income solutions since Freedom and Choice was introduced in 2015, a reform that opened up an array options for members at the point of retirement....
View ArticleThird British Steel firm re-enters pension transfer market
Vintage Investment Services, a firm caught up in the British Steel pension scheme debacle, has become the third advice firm to regain its defined benefit (DB) transfer permissions and re-enter the...
View ArticleDWP gives go-ahead for gradual rollout of industry funded dashboard
The Department for Work and Pensions (DWP) has published the pensions dashboard feasibility study, nine months after it was originally due. The report, unveiled on Monday (3 December), forms the...
View ArticleNet pay issue to widen as AE lower earnings limit rise confirmed
Low earners in net-pay schemes will lose out on more pensions tax relief as the gap between auto-enrolment (AE) qualifying earnings and the personal tax allowance widens. Under plans announced by the...
View ArticleRP Case Study: Tax relief or tax deferral?
I’m old enough to have been fascinated by the moon landings as current affairs rather than history and to have wanted an Airfix Saturn Five. In that era, news outlets controlled the flow of information...
View ArticleMajority of master trusts support collaboration to overcome delivery barriers
Some 87% of master trusts support future collaborative efforts to overcome barriers to good service delivery, the Pensions Management Institute (PMI) says. Its survey of 15 master trusts found all...
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State pension age rises for those born after 1952
Millions of people born after 5 December 1953 will see their state pension age rise from today (6 December) as a result of reforms designed to cut billions from the UK’s welfare bill. The move...
View ArticleLee Halpin: Pension death benefits need not be taxing
“In this world nothing can be said to be certain, except death and taxes” Benjamin Franklin famously said after signing the constitution of the United States. But in the context of leaving your pension...
View ArticleFCA issues stark warning to DB transfer advisers following review
The Financial Conduct Authority (FCA) has issued a stark warning to firms operating in the DB transfer arena after gathering evidence that suggests incompetence in this part of the advice market. On...
View ArticleMartin Tilley leaves Dentons after 30 years with business
Former director of technical services Martin Tilley has left Dentons Pension Management after 30 years at the business. Tilley (pictured) is moving onto pastures new at a wealth management firm, where...
View ArticleOECD: Target pension tax perks at wealthiest
Tax-based financial incentives for savings are wasted on the lowest paid workers as they may not have the means to contribute more into their pension, the Organisation for Economic Co-operation and...
View ArticlePension transfer values fall 2.3% in November
Pension transfer values fluctuated during November 2018, with an overall fall of 2.3%, according to XPS Pensions’ transfer value index. The benchmark index, which stood at £235,000 at the end of...
View ArticleTPAS launches midlife review service for self-employed
The Pensions Advisory Service (TPAS) has launched a service for the self-employed with the aim of helping them save towards a better retirement. The review will come in the form of a phone appointment...
View ArticleLawrence Cook: Beware decumulation’s ‘double whammy’
Concerns may have been creeping into the market for a little while but October will have left investors and their advisers in little doubt that market volatility must now play a prominent part in their...
View ArticleCurtis Banks buys Hargreave Hale SIPP book
Curtis Banks has completed the purchase of wealth manager Hargreave Hale’s book of self-invested personal pensions (SIPPs). The purchase included some 600 SIPPs invested in assets valued at...
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