Five million pension savers at risk of falling prey to scammers
Five million pension savers could be putting their retirement pots at risk to scammers, The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) have warned as part of their latest...
View ArticleGovernment to review tapered pension tax rules for NHS doctors
The government has put forward proposals to review pensions tax relief rules in order to give senior NHS clinicians full flexibility over the amount that they contribute to their pensions. In an...
View ArticleBulk annuity market breaks yet another record with £17bn of first half deals
Around £17.5bn of buy-ins and buyouts were transacted in the first half of the year as bulk annuity market records continued to tumble. With all insurers having published their results to June, the...
View ArticleDB transfer values jump nearly 3% in July – XPS
Defined benefit (DB) transfer values increased by almost 3% over the course of July, according to the XPS Transfer Value Index. The firm’s transfer value index increased from £240,800 to £247,400 in...
View ArticleStephen McPhillips: Property re-development via SIPP
Mark is a busy and hardworking financial adviser whose business is expanding quite rapidly – so much so that he has outgrown his current office accommodation. His offices have historically been...
View ArticleL&G acquires MyFutureNow to provide ‘dashboard view’ of member pots
Legal & General (L&G) Retail Retirement has purchased a 100% stake in MyFutureNow – which specialises in pension pot tracing and consolidation – for an undisclosed price. The acquisition of the...
View ArticleDB inflows fall at Royal London as sector-wide trend continues
Royal London has seen its life and pension business decrease 4% in the first half of 2019, according to its results, published this morning (12 August). Royal London largely attributed the £253m fall...
View ArticleSEI Master Trust receives authorisation
SEI Master Trust has been granted authorisation, becoming the 14th master trust to be given the stamp of approval by The Pensions Regulator (TPR). The £361m master trust was given the green light on 7...
View ArticleBerkeley Burke set to pay £1m after failure to comply with court order
Self-invested personal pension (SIPP) provider Berkeley Burke is set to have to pay nearly £1m in compensation to claimants after it failed to comply with a court order. After failing to comply with...
View ArticleEmbattled GPC SIPP sold to Hartley Pensions
Embattled self-invested personal pension (SIPP) provider GPC SIPP has been sold to Hartley Pensions, the firm’s administrator Smith & Williamson has confirmed. The deal, which was completed on 12...
View ArticleInvestment fraud reports surge to more than 8,000 so far this year
More than 8,000 investment fraud reports have been made so far this year, more than double the amount in the same period last year, a Freedom of Information request has revealed. The data, supplied to...
View ArticleNEST joins Star Initiative as Opperman urges other to follow suit
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members’ pension pots with it. The initiative aims to improve industry standards while reducing pension transfer...
View ArticleMore than 50 jobs at risk as Curtis Banks combines offices
More than 50 staff at Curtis Banks are at risk of redundancy as the group moves all aspects of its commercial property business into one office, Professional Adviser understands. The self-invested...
View ArticleRP Case Study: In-specie pension transfers
Mike is a successful entrepreneur who runs a number of businesses. Over the years, he has accumulated significant pension wealth through insured personal pensions and company pension schemes. When he...
View ArticleRaise state pension age to 75 and boost ’employee-tailored’ mid-life MOTs,...
The Centre for Social Justice is calling for the state pension age to be raised to 70 by 2028 and to 75 by 2035, a much faster rise than currently planned. Former work and pensions secretary Iain...
View ArticleThe People’s Pension, The Cheviot Trust and Atlas Master Trust receive...
The People’s Pension, Atlas Master Trust and The Cheviot Trust have been granted authorisation from The Pensions Regulator (TPR), taking the total number of authorised master trusts to 18. The £7bn...
View ArticleFailed SIPP firm receives 50 FSCS claims
Failed self-invested personal pension (SIPP) firm Pointon York has received 50 claims through the FSCS, RP’s sister publication Professional Adviser can reveal. The Financial Services Compensation...
View ArticleNine million mid-life employees sleepwalking into retirement – Aviva
Nearly nine million employees aged 45 and over are “sleepwalking” into retirement, unaware of how much they need to save, according to research from Aviva. The report – which questioned more than...
View ArticleRP Case Study: Changes to Pension Guarantee Credit
From 15 May 2019, the rules affecting Pension Guarantee Credit changed. In its simplest form Pension Guarantee Credit provides a minimum income of £167.25 a week to a single person over state pension...
View ArticleDefining Broken Transfers: FCA robustly defends its regulation of transfer...
When the Financial Conduct Authority (FCA) begun its life back in April 2013, it was adamant it would not become a retrospective regulator but, particularly in the case of defined benefit (DB)...
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