FCA visits 11 SIPP firms following ‘Dear CEO’ letter
The Financial Conduct Authority (FCA) has visited 11 self-invested personal pension (SIPP) businesses since it warned firms of their duties in its ‘Dear CEO’ letter, RP’s sister title Professional...
View ArticleAdvice firms that did not answer FCA DB probe could see permissions revoked
Financial advice firms that did not respond to the FCA’s market-wide defined benefit (DB) transfer questionnaire could see their regulatory permissions revoked, RP’s sister publication Professional...
View ArticlePeter Elston: Head versus gut in retirement investing
Risk is a part of our everyday lives. Whether consciously or unconsciously, we make risk assessments for every action we undertake. We make these assessments using two methods – instinct and logic –...
View ArticleGive new mothers’ pension pots a £2,000 top-up, says Which?
New mothers should be given a £2,000 pension top-up to address the gender gap as part of reforms to workplace pensions, according to Which? Its analysis – as part of a joint report with the Pensions...
View ArticleUsing pension for house purchase ‘dangerous political short-termism’
A government minister’s suggestion young people be allowed to get on the housing ladder using their pension has been panned by industry professionals, who have argued the policy only stores up trouble...
View ArticleFOS hike will see advisers exiting DB market – PFS
The recent Financial Ombudsman Service (FOS) compensation limit hike will see advisers pulling out of the DB transfer market when PI insurance becomes too expensive, the PFS has warned. On 1 April,...
View ArticleMartin Jones: Lifetime allowance quirks on divorce
A pension sharing order (PSO) is the mechanism by which a divorcing client is able to share some of their pension scheme with their former spouse. The annex to the order contains a percentage, which is...
View ArticlePensions minister admits incorrect state pension forecasts for over 300,000...
Guy Opperman has admitted incorrect state pension forecasts have been issued for a third of a million people since 2016 with defined benefit (DB) members with “complex” work histories facing a...
View ArticleShould master trusts adopt CDC?
Earlier this year, pensions and financial inclusion minister Guy Opperman announced the government will proceed with legislation to implement collective defined contribution (CDC) schemes. It will be...
View ArticlePension participation rises to 87% of eligible workers
Nearly nine in 10 eligible workers were saving into a workplace pension by the end of 2018, with £90.4bn of contributions put aside for retirement, government statistics reveal. Auto-enrolment (AE),...
View ArticleYounger generations more likely to use property to fund retirement
The UK’s younger generations are three times more likely than their elders to rely on their property wealth to fund retirement. Research from Canada Life suggested one-in-ten (9%) of 16-54 year-olds...
View ArticleRP Case Study: Saving your pension for a rainy day
Most pension experts would say that spending in retirement – decumulation – should follow a policy of ‘pensions last’, so why is it that the majority of our clients so often want to spend ‘pensions...
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Industry Voice: What does the future hold for multi-asset strategies?
If only we had a crystal ball that could tell us the future, investing would be so much easier. We live in complicated times, however, and – particularly in the past year – it has often seemed as if...
View ArticleIFS: Pensions system places too much risk on individuals
Workplace pensions look more like individual savings pots as too much risk is loaded onto members, Institute for Fiscal Studies (IFS) director Paul Johnson has warned. Johnson, who spoke at a lecture...
View ArticleFive tips for advisers with clients approaching retirement
With Office for National Statistics data indicating more than half of personal pension wealth is owned by those over 50, the asset management sector has no choice but to respond to a steady wave of...
View ArticlePSIG updates pension scam code with 10 changes
The Pension Scams Industry Group (PSIG) has updated its voluntary code of practice to reflect regulatory and legislative changes that have affected the industry over the last year. The updated...
View ArticleMore than £70m of pension savings at risk to scams – XPS Pension Group
There has been a significant increase in the number of ‘red flags’ reported on pension transfers in the last 12 months by the XPS Pensions Group, which it said leaves millions of pounds at risk....
View ArticleLiving Wage Foundation campaign to tackle work insecurity still leaves...
The Living Wage Foundation has launched a campaign to tackle work insecurity after research found one in six workers are in low-paid, unstable work. Research for the Living Hours campaign showed around...
View ArticleNEST to completely divest from tobacco as ‘compelling’ performance evidence...
The government’s auto-enrolment provider NEST is going tobacco-free across all of its investment portfolios after concluding the asset is a “poor investment” for its eight million members. The £6bn...
View ArticleGPC SIPP enters administration after fighting Harlequin claims
GPC SIPP has entered insolvency after fighting a raft of claims and complaints made against it in relation to investments in the Harlequin property scheme. Administrators Smith & Williamson...
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