RP Case Study: What to do when retirement income reality doesn’t match...
Michael is single and in his early 60s. He begins to look at what his retirement will be like. He goes online to find out his State Pension age and realises he will not receive his State Pension until...
View ArticlePension transfer values soar during May
Defined benefit (DB) transfer values flew close to record highs during May as the number of transfers increased over the month, according to XPS Pension Group’s Transfer Value Index. The index rose to...
View ArticleUK retirees outlive their savings by a decade, finds World Economic Forum
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF). In its report published yesterday (13 June) – Investing in...
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Adrian Boulding: Dashboard engineers must avoid pension’s ‘Great Stink’
This year is the bicentenary of the birth of Sir Joseph Bazalgette, one of the greatest of the Victorian engineers – and there were plenty of them! Bazalgette (pictured, below) is perhaps most famous...
View ArticlePension providers and clients ‘left in limbo’ after in-specie hearing vacated
Pension providers and investors have been “left in limbo” after a case looking at in-specie contributions to pensions was vacated from the Upper Tribunal hearings register. The case – HM Revenue &...
View ArticleRP Forum: ‘Partial transfers are not always right for a client’
Though partial defined benefit (DB) transfers can be seen as a “perfect solution”, according to Andrew Tully, having such an option available does not necessarily make it right for a client. Speaking...
View ArticleMaster trusts must embrace greater diversity of trustees
Master trusts are required to have a balance of skills and experience on their trustee boards, providing cognitive diversity in their decision-making. But this diversity can only be truly achieved if...
View ArticleRP Forum: SIPP provider due diligence ‘more important than ever’
Carrying out due diligence on SIPP providers has become “more important than ever before” for advisers, Stephen McPhillips told delegates at the 2019 Retirement Planner Forum. Speaking to the almost...
View ArticleRevealed: All the winners of the Retirement Planner Awards 2019
Wingate Financial Planning, Berry & Oak, Strategic Solutions Chartered Financial Planners and Rowley Turton IFA were named as the four regional winners of the Best Individual Pensions Advice Firm...
View ArticleFCA ‘concerned and disappointed’ with amount of DB transfers
The FCA will carry out further work on defined benefit (DB) transfers after it revealed “concerning and disappointing” findings from its marketwide data gathering exercise. This morning (19 June) the...
View ArticleWhat can we learn from the FCA’s DB data dive?
This morning (19 June), the Financial Conduct Authority (FCA) released data from its probe into the defined benefit (DB) transfer advice market. Here, RP’s sister publication Professional Adviser...
View Article‘We will be closing down firms’– the FCA’s Megan Butler
Pulling no punches, FCA director of supervision Megan Butler has told RP’s sister publication Professional Adviser that the regulator will be closing adviser firms if they are not “ready, willing and...
View ArticleOccupational scheme membership rises to 45.6 million people
Membership of occupational pension scheme membership has risen to a record high of 45.6 million people as of the end of last year, according to the Office for National Statistics (ONS). In its...
View ArticleRP Case Study: Deciphering inheritance when expression of wishes are not clear
Nate, 63, passed away in early 2019 with a self-invested personal pension (SIPP) which was crystallised in 2013. His SIPP has an expression of wishes in place in favour of his twin sister Lexie. Nate...
View ArticleFemale participation in workplace schemes soars as a result of AE
The number of women participating in a workplace pension has increased by 70% since auto-enrolment (AE) began, analysis by Equiniti reveals. The administration provider said Department for Work and...
View ArticleFCA confirms second event for British Steel members
The FCA has confirmed the second of its events for British Steel Pension Scheme (BSPS) members will take place on 28 June, with more dates shortly to be announced for July and August. This Friday’s...
View ArticleThird of women have no pension plan, finds Willis Owen
Just over a third of women claim they do not have a pension plan compared to 17% of men, a Willis Owen survey has found. Of these women, 41% said they have no intention of starting to save into one,...
View ArticleSmart Pension launches simpler annual statement
Auto-enrolment (AE) provider Smart Pension has launched a simplified and standardised two-page annual statement, which members can view on its online app. The master trust – which is awaiting...
View ArticleFCA data ‘does not reveal widespread advice issue’– PFS
The FCA’s latest pension transfer data does not reveal a “widespread issue” with financial advice, according to PFS boss Keith Richards, who has argued it “narrowly focused” on DB pension transfers....
View ArticleStephen McPhillips: Carrying out due diligence on SIPP providers
As I travel around the country presenting and speaking to advisers and paraplanners, I hear all sorts of feedback from them on their experiences of various self-invested personal pension (SIPP) and...
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