Opperman: Sidecar savings a ‘chance to change the world’
Products that allow the public to save into both a pension and a liquid pot are an opportunity that all employers should be embracing, Guy Opperman has said. Sidecar savings products would allow...
View ArticleTwo more master trusts apply for authorisation ahead of March deadline
Just eight master trusts have so far applied to The Pensions Regulator (TPR) for authorisation with just two months left until the deadline. According to the watchdog’s monthly update published today...
View ArticleAlistair Wilson: The clock is ticking on carry forward
With the end of the tax year looming, it is time to ensure all clients’ available allowances are used – where possible, of course. And carry forward allows unused pensions annual allowance to be...
View ArticleJury still out on SIPP providers – FCA’s Andrew Bailey:
The “jury is still out” on whether the Financial Conduct Authority (FCA) is satisfied with the response from SIPP operators, watchdog chief executive Andrew Bailey said, following a letter he wrote...
View ArticleStandard Life submits two master trust applications to TPR
Standard Life has submitted authorisation applications for both of its master trusts to The Pensions Regulator (TPR), with just over seven weeks to go until the deadline. The scheme trustee for the...
View ArticleWhat the FOS? Berkeley Burke hits out at ombudsman’s decision-making
Embattled SIPP provider Berkeley Burke has hit out at the Financial Ombudsman Service’s decision-making process, labelling it capricious and risky to businesses. In a statement given exclusively to...
View Article‘Truly transformative’ AE policy brings 10 million into pensions
Auto-enrolment (AE) has now brought 10 million workers into occupational pensions since its introduction in 2012, latest government figures reveal. This is one year ahead of the Department for Work...
View ArticleBosses who play ‘fast and loose’ with pensions face seven years in prison
Company directors who deliberately or recklessly put their workers’ pension funds at risk face seven years in prison under plans to crack down on “acts of astonishing arrogance and abandon”. Secretary...
View ArticleShould the government make it easier for trustees to invest in illiquid assets?
Illiquid assets rarely feature in the default strategies of defined contribution (DC) schemes. The 0.75% charge cap and daily dealing requirements on many DC platforms being the main hurdles. The...
View ArticlePension transfer values see further volatilty in January
Defined benefit pension transfer values fluctuated during January 2019 but ended the month with no overall change, according to the XPS Pensions Group Transfer Value Index. The difference between...
View ArticleGeorge Houston: Through the long winter nights, client communication is key
Winter is my favourite time of the year. It may not seem an obvious choice, but the shift in balance of short days and long nights, especially following the festive season, always lifts my mood. And,...
View ArticleDB deficit falls £8.8bn over January, says PPF
The combined funding level of the UK’s 5,450 defined benefit (DB) schemes increased by 60 basis points (bps) over January, latest Pension Protection Fund (PPF) data reveals. The lifeboat’s monthly...
View ArticleSTM completes acquisition of Carey UK pensions businesses
Financial services provider STM Group will expand into the auto-enrolment (AE) market after completing a deal to acquire Carey Pensions. The completion of the deal – announced today (13 February) –...
View ArticleBerkeley Burke wins leave to take FOS SIPP case to Court of Appeal
Embattled SIPP administrator Berkeley Burke has been granted permission to appeal the judgement delivered against it in October last year. Lord Justice Hickinbottom in the Court of Appeal, Civil...
View ArticleCardano agrees acquisition of Now Pensions
Cardano Group has agreed to acquire 100% of workplace pension provider Now Pensions with just over six weeks to go until the master trust authorisation deadline. The acquisition is expected to...
View ArticleRP Case Study: The rules around block transfers
Wesley has been with his pension provider for just over ten years. When he transferred out of his old scheme, everything was handled by his financial adviser at the time. It’s now been a few years...
View ArticleTPR cracks down on ‘dishonest employers’ to protect savings
The Pensions Regulator (TPR) used its enforcement powers more than 22,000 times in the final quarter of 2018, it has revealed. The watchdog’s latest quarterly compliance and enforcement bulletin,...
View ArticleL&G launches annuity tracking service for advisers
Legal & General has launched Track My Apps, a service to support advisers moving clients from fixed-term annuities to lifetime annuities. L&G said the tracking service, which is provided by...
View ArticleRP Case Study: Using the annual allowance and lifetime allowance to simplify...
Pension simplification was originally brought about due to the complex patchwork of legislation that existed prior to A-day, which had been fixed together by successive administrations and was seen as...
View ArticlePension scam report shines light on quality of advisers
Financial advisers and/or unregulated introducers have had some involvement in half of suspected pension scams, a report by the Pension Scams Industry Group (PSIG) has claimed. The report found around...
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