Retirement living standards launched to help savers ‘picture their future’
A retirement living standards tool to help people engage with their pension and set retirement targets has been launched by the PLSA. Launched at its annual conference in Manchester yesterday (17...
View ArticleCoutts tops FCA pension complaints list
Coutts & Company received by far the most complaints for decumulation and pensions per 1,000 policies sold between January and June this year, according to FCA data. In the intermediation category,...
View ArticlePension scheme data ‘not good enough’ for dashboard
The pensions dashboard project could be derailed by poor data held by workplace pension schemes, delegates at the PLSA conference heard. Speaking at the Pensions and Lifetime Savings Association’s...
View ArticleJack Rose: How VCTs are shaping up in 2019/20
All the early signs are that, yet again, it is shaping up to be another very strong year for Venture Capital Trust (VCT) fundraising. As it currently stands there is around £650m of capacity available...
View ArticleTPR further delays DB funding code consultation until ‘things have settled down’
The Pensions Regulator (TPR) will now seek to publish the first of two consultations on a revised defined benefit (DB) funding code in the new year, depending on the political environment. Speaking at...
View ArticleDWP proposes levy hike as funded bodies see ‘continuing change and growth’
The Department for Work and Pensions (DWP) has proposed increasing the general levy on occupational and personal pension schemes from 1 April 2020. In a consultation published on 18 October, the DWP...
View ArticleBerkeley Burke reprimands SIPP rivals after appeal for donations falls short
An email written by Berkeley Burke director Zachary Gallagher has revealed the “woeful” sum raised from the industry for the firm’s court appeal. The email, which was leaked to RP’s sister publication...
View ArticleDanielle Byrne: The fundamentals of fixed protection
It’s no longer just the super-rich that need to be concerned about the lifetime allowance (LTA). A pension value that might appear modest today could be on track to breach the LTA by the time the...
View ArticlePru system error causes lengthy delay to client’s pension withdrawal
Prudential has frustrated a financial adviser and his client after the life giant revealed it would take two months to process a pension withdrawal because of system issues, RP’s sister publication...
View ArticleOrigo hits 4 million transfers as ceding times decrease
The number of pension transfers through the Origo Transfer Service has passed four million, while transfer times have fallen overall. Since its launch in 2008 there has been more than four million...
View ArticleLighthouse adviser ‘confident’ in advice given to British Steel workers
An adviser working for Lighthouse at British Steel sites Scunthorpe and Teesside has said she is confident in the advice given by her firm. Last week RP’s sister publication Professional Adviser...
View ArticleKPMG in talks to sell pensions unit to private equity house
KPMG has confirmed it has entered into exclusive talks with Exponent Private Equity to sell its pensions advisory unit. The audit and advisory firm said it is proceeding with a “view to progressing a...
View ArticleBob Champion: The retirement tsunami
Over the next twenty years, more people will move into retirement than in any previous 20-year period. Are you ready for this veritable retirement ‘tsunami’? It will be easier to prepare for if...
View ArticleEddie McGuire: Holding business premises in a SIPP is ‘educational process’
If you have clients that run their own small business, then you may well be familiar with how big a challenge access to funding still is for small and medium enterprises (SMEs). So, at first glance at...
View ArticleNo evidence of opt-out surge after April contribution rate hike- TPR
There has been no evidence to suggest that a “significant number” of people have opted out of their pension scheme after the final contribution rate hike, The Pensions Regulator (TPR) has said....
View ArticleEmbark agrees to buy adviser and partnership business of ATS
Embark Group has agreed to acquire the advised and partnership client books of Alliance Trust Savings (ATS) from Interactive Investor for an undisclosed amount. The transaction will bring more than...
View ArticleFCA’s refreshed wake-up packs ‘still not enough’ for savers
The Financial Conduct Authority’s (FCA’s) reformed pension wake-up packs coming into effect this week are “still not enough” for most savers, according to education provider Wealth at Work. Wake-up...
View ArticleWomens’ pension prospects dulled by ‘reckless conservatism’
The tendency for women to be more risk-adverse than men is a major contributor to pension inequality in the UK, according to research from Cass Business School and the University of Bristol. Data...
View ArticlePension freedom withdrawals top £30bn
Some 327,000 people accessed their retirement savings using pension freedom rules withdrawing £2.4bn in the third quarter of the year, latest figures from HM Revenue & Customs (HMRC) reveal. Latest...
View ArticleContingent charging ban could ‘severely’ cut DB advice supply
Tougher regulation of defined benefit (DB) advice could result in a “sharp shrinkage” in supply leaving consumers more vulnerable, Aegon has warned. The provider made the comments in its response to...
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