Claire Trott: Family wealth is changing
Historically, we are used to the idea of having one generation in active retirement at one time, with the next generation only retiring as the elder generation becomes less active, is in a care home,...
View ArticleMercer under fire again after asking for £280k transferred pot back
Investment consultancy and human resources giant Mercer has come under fire again after being accused of allowing a client to transfer part of their pension before asking for it back. The client’s...
View ArticleMid-life MOTs run danger of ‘shocking people into doing nothing’
Employees will be like “rabbits in the headlights” if they are awakened to their low levels of saving too late in their working lives, it has been warned. While aimed at improving individuals’...
View ArticlePension schemes sign charter to demand climate change action
Some 76 trustees and chief investment officers from UK pension schemes with combined assets of £367bn have signed a pledge to push asset managers to take more action to help combat climate change. The...
View ArticleDefining Broken Transfers: How should the advice sector handle insistent...
If all advisers avoid insistent transfer clients and deny them what they want, then there goes a theory that eventually their fate will end up in the hands of those more unscrupulous. So, how does the...
View ArticleKirsty Anderson: Lifestyle planning for the 21st century
The retirement outcome reviews policy statement (PS19/21) made it clear that a lot of time and effort has gone into ensuring that there are some clear investment pathways laid out for those moving...
View ArticleBerkeley Burke SIPP book sold to Hartley
The SIPP arm of Berkeley Burke fell into administration yesterday (18 September) but was immediately sold to provider Hartley SIPP. A notice from the Financial Conduct Authority (FCA) said the firm...
View ArticleCharlene Young: Let’s adopt a ‘less is more’ philosophy
Pension freedoms changed the whole retirement planning landscape. The regulator can lament the speed of introduction – but over five years since the freedoms were announced, some regulatory policy...
View ArticleUK retirement system sticks at world’s 17th best
The UK continues to lag behind its global counterparts for retirement security, ranking 17th out of 44 nations in Natixis Investment Managers’ global retirement index. While the placing remains the...
View ArticlePrudential agrees annuity deal with L&G
Legal and General (L&G) Retail Retirement has agreed an introducer agreement within its retirement income division to provide annuities to Prudential customers with guaranteed rates. The...
View ArticleThomas Cook pension schemes expected to enter PPF
Thomas Cook’s four UK defined benefit (DB) pension schemes are expected to enter the Pension Protection Fund (PPF) as the company begins insolvency proceedings. While a notification has not yet been...
View ArticleMAPS establishes 10-member steering group to take dashboards forward
The Money and Pensions Service (MAPS) has made 10 appointments across the pensions and wider financial sector to work on the practicalities of establishing pensions dashboards. The steering group –...
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FCA data: Annuity purchases and DB to DC transfers decline
The number of DB to DC transfers has declined alongside the number of annuities purchased, according to the latest retirement income market figures from the Financial Conduct Authority (FCA). Between...
View ArticleDefining Broken Transfers: Is contingent charging a red herring?
When discussing defined benefit (DB) transfer advice, contingent charging has become a topic that demands to be acknowledged. But it was not always like this. In fact, for years after the pension...
View ArticleTreasury claws back £600m through annual and LTA breaches
The Treasury has clawed back more than £600m from breaches of the annual and lifetime limits on pensions savings, according to estimates from Hargreaves Lansdown. On Thursday (26 September), HM...
View ArticleStephen McPhillips: Professional trustees and SSAS
Once upon a time, long, long ago, the pensions world seemed to be a simpler place. Sure, we had ended up with eight different benefit regimes covering pensions and tax free lump sums, a salary cap...
View ArticleRothesay Life appeals High Court block on Prudential annuity transfer
Rothesay Life has lodged an appeal against the High Court’s decision to block the £12bn transfer of Prudential’s annuity book. The appeal – submitted on 27 September to the Court of Appeal – will be...
View ArticleFCA fines Prudential £23.9m for non-advised annuity sale failures
The Financial Conduct Authority (FCA) has fined Prudential £23.9m for failures relating to non-advised sales of annuities. Between July 2008 and September 2017, Prudential’s non-advised annuity...
View ArticleCardano completes Now Pensions acquisition
Cardano Group has completed the acquisition of Now Pensions, a week after the master trust received authorisation from The Pensions Regulator (TPR). The completion of the deal went through on Monday...
View ArticleBCF and Carey master trusts granted authorisation as regime hits one-year mark
The Carey Workplace Pension Trust and BCF Pension Trust have been granted authorisation, leaving just six master trusts waiting for approval from The Pensions Regulator (TPR). The approvals were...
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