Martin Jones: Pension sharing and SSAS – expert advice is crucial
Where a small self-administered scheme (SSAS) is subject to a pension sharing order (PSO), you may find yourself called upon to provide advice and expertise, either to a trustee or to an ex-spouse of a...
View ArticleMore boys than girls have pensions at young age – HMRC data
Parents and grandparents are more likely to save into a pension for their sons than their daughters, according to data from the taxman. The statistics, obtained by Hargreaves Lansdown from HM Revenue...
View ArticlePension bosses handed 34-year ban for £12m pension liberation ‘house of cards’
Three directors who liberated just under £12m worth of pension savings have been disqualified for a total of 34 years for misleading investors over a period of 30 months. Kevin Kirkwood was handed a...
View ArticleMark Devlin: Seismic changes ahead if DB contingent charging is banned
I have been pondering consultation paper 19/25: Pension transfer advice: contingent charging and other proposed changes and what this means for the future for defined benefit (DB)/safeguarded...
View ArticleBusiness raided for pensions cold calling in ICO’s first move since ban
The Information Commissioner’s Office (ICO) has searched an unnamed business premises in Chichester as part of an investigation of the firm suspected of making nuisance pensions calls. Conducted...
View ArticleBerkeley Burke SIPP administrators block scheduled Court of Appeal hearing
The administrators handling Berkeley Burke SIPP Administration have blocked the firm’s upcoming Court of Appeal hearing following a judgement made against it last year. The firm’s administrators, RSM...
View ArticleFCA again reminds SIPP providers of regulatory obligations
The Financial Conduct Authority (FCA) has again reminded SIPP providers of their regulatory and financial commitments following the news that Berkeley Burke SIPP Administration’s court appeal will not...
View ArticleOxford Uni pension scheme receives master trust approval
The University of Oxford Staff Pension Scheme has received master trust authorisation from The Pensions Regulator (TPR), taking the total number of approved schemes to 34. The scheme has two sections –...
View ArticleDB transfer values volatile throughout September
Defined benefit (DB) transfer values varied significantly during September, while the number of XPS Pensions Group members requesting a transfer value remained low, according to the firm. XPS’s...
View ArticleEvolve Pensions consolidates its two master trusts as BlueSky winds up
Evolve Pensions has wound up its BlueSky master trust and moved members to its other provider, Crystal, RP’s sister publication PP can reveal. Evolve communicated the news to the 985 employers and...
View ArticleScrapping pensions tax-free cash to pay for IHT abolition branded ‘terrible...
The Institute of Economic Affairs’ (IEA) idea to scrap pensions tax-free cash to help pay for inheritance tax (IHT) abolition has been branded “a terrible idea”. In an article in The Times on Monday...
View ArticlePensions minister writes to 50 pension schemes demanding action on ESG
Pensions and financial inclusion minister Guy Opperman has written to the 50 largest pension schemes requesting action to combat climate change. The MP for Hexham warned pension and investment...
View ArticleThird of pension schemes ‘appointed or considering appointing an IFA’
More than a third of pension schemes have appointed or are considering appointing an IFA to support their members, XPS Pensions Group research has found. One-in-10 of XPS’s pension scheme clients...
View ArticleNeil MacGillivray: Are we about to wake up to new CGT nightmares?
The Institute for Public Policy Research (IPPR) issued a report in September, Just tax: Reforming the taxation of income from wealth and work, just in time for the start of what turned out to be a...
View ArticleQueen’s Speech confirms pension schemes bill
A pension schemes bill is set to be laid in parliament in the coming weeks after the government announced a wide-ranging suite of reforms in the Queen’s Speech. The much-anticipated legislation...
View ArticleSeven year itch: Has auto-enrolment been a success story?
Auto-enrolment (AE) celebrated its seven-year anniversary at the start of this month, having achieved a number of milestones since its introduction. By February 2019, the initiative had brought 10...
View ArticleLEBC valuation slashed by a third after DB transfer market exit
LEBC’s majority shareholder B.P. Marsh & Partners has reduced the valuation of its holding in the group by 33%, following its withdrawal from the defined benefit (DB) transfer market. According to...
View ArticleQuilter could face complaints after Lighthouse presence on British Steel sites
Financial advice and life giant Quilter could potentially see complaints made against it from British Steel workers following an affinity partnership between the steelworkers’ union and advice firm...
View ArticleState pension set for 4% increase next year
State pension payouts are set to increase by 3.9% next year under the triple lock policy, according to the latest data from the Office for National Statistics (ONS). The state pension increase is...
View ArticleLifetime allowance becoming ‘less generous’ despite increase
The lifetime allowance (LTA) is becoming less generous to pension savers despite it rising to £1,073m from April next year, providers have said. Latest data from the Office for National Statistics...
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