Dodgy Sipps claims to drive up FSCS levy on UK advisers

Dodgy Sipps claims to drive up FSCS levy on UK...

The UK’s Financial Services Compensation Scheme (FSCS) has warned it may impose an interim levy on life and pension advisers over the increasing number of claims related to self-invested personal pension schemes (Sipps).

Published : 1, Dec 2016
HMRC's planned overhaul will ‘decimate’ Rops market, says IFA

HMRC's planned overhaul will ‘decimate’ Rops market,...

The UK’s plan to abolish the 70% ‘income for life’ rule on recognised overseas pension schemes (Rops) will “decimate” the market for such products, according to the head of expat-focused IFA firm, Montfort International.

Published : 29, Nov 2016
Malta the ‘big winner’ of UK’s extensive Rops reforms

Malta the ‘big winner’ of UK’s extensive Rops...

Malta will be the "main winner" of HM Revenue & Customs' plan to change the 'eligibility criteria' for foreign pensions to qualify as recognised overseas pensions schemes (Rops), according to the director of European IFA firm Blevins Franks.

Published : 28, Nov 2016
Muted response to FCA plans on shopping around for annuities

Muted response to FCA plans on shopping around...

Proposals from the UK’s Financial Conduct Authority (FCA) that would require annuity providers to tell customers what they could gain by shopping around and switching have been met with muted enthusiasm.

Published : 25, Nov 2016
UK scraps 70% ‘income for life’ rule for overseas pensions

UK scraps 70% ‘income for life’ rule for overseas...

The UK government has announced it will abolish a rule requiring recognised overseas pensions schemes (Rops) to earmark 70% of funds to provide members with an income for life, as further details emerge on HM Revenue & Custom’s overhaul of foreign pensions unveiled in this week’s Autumn Statement.

Published : 25, Nov 2016
Industry divided on planned UK overhaul of overseas pensions

Industry divided on planned UK overhaul of overseas...

The UK government’s plans to change the way overseas pension schemes are approved and taxed have been met with a mixed response from the financial services industry, with some advisers welcoming the move while others believe it will make foreign pensions increasingly complex and unattractive.

Published : 24, Nov 2016
UK announces sweeping reforms to Rops

UK announces sweeping reforms to Rops

The UK government has announced a major overhaul to the way recognised overseas pension schemes (Rops) are taxed, bringing the products in line with UK pensions.

Published : 23, Nov 2016
UK savers over-50 reveal 'bonkers' use of pension freedoms

UK savers over-50 reveal 'bonkers' use of pension...

Almost a quarter of over-50s in the UK plan to cash in their pension even after withdrawing their 25% tax-free lump sum, accord to a survey by Retirement Advantage.

Published : 18, Nov 2016
HMRC removes Canadian Rops from overseas pension list

HMRC removes Canadian Rops from overseas pension...

HM Revenue & Customs has scrapped nearly a hundred Canadian recognised overseas pension schemes (Rops) from its pre-approved list, in line with a similar move suspending Australian transfers last year.

Published : 15, Nov 2016
Praemium sets up int’l pension unit headed by Mark Sanderson

Praemium sets up int’l pension unit headed by...

Former Brooklands Pensions chief operating officer Mark Sanderson is to spearhead the development of Praemium’s retirement business in the Middle East and other key expat markets.

Published : 15, Nov 2016
UK providers forced to cap early exit pension charge at 1%

UK providers forced to cap early exit pension...

The UK’s Financial Conduct Authority (FCA) and Department for Work and Pensions are to impose a 1% early exit charge cap on existing personal pensions and occupational schemes from 31 March next year.

Published : 15, Nov 2016
Long-term care needs expected to drive demand for UK advice

Long-term care needs expected to drive demand...

Advisers in the UK are set to be inundated with work planning for long term care needs of savers, a new survey by Just Retirement Partnership suggests.

Published : 10, Nov 2016
UK government urged to scrap pensions triple-lock

UK government urged to scrap pensions triple-lock...

The UK’s pension triple-lock will “worsen the economy”, is “heavily skewed” towards baby boomers, and should be scrapped, according to the Commons Work and Pensions Committee.

Published : 7, Nov 2016
Sovereign Group cuts fees on Rops

Sovereign Group cuts fees on Rops

International pensions provider Sovereign Group has removed 'ad hoc' transactional fees from all its new and existing recognised overseas pensions scheme (Rops) products.

Published : 7, Nov 2016
New pension transfers qualification launched by the CII

New pension transfers qualification launched by...

The UK’s Chartered Insurance Institute (CII) has launched a new pension transfers qualification to support those seeking to provide specialist advice, both domestically and internationally.

Published : 3, Nov 2016
Pensions regulator pursues Philip Green over BHS

Pensions regulator pursues Philip Green over BHS...

The UK’s Pensions Regulator (TPR) has launched enforcement actions against Philip Green, the former owner of the collapsed British department store BHS, and other previous owners, aimed at seeking redress for 20,000 pension scheme members.

Published : 3, Nov 2016
Pound volatility sees UK pension holders seeking more advice

Pound volatility sees UK pension holders seeking...

The volatility of the pound has seen a significant uptick in people seeking advice on moving British pensions abroad, which could see hundreds of millions of pounds driven overseas, says deVere Group chief executive Nigel Green.

Published : 31, Oct 2016
Australian Rops get STM super boost

Australian Rops get STM super boost

STM Group Australia’s managing director Stuart Denness is looking to re-energise and reinvigorate the country’s recognised overseas pension scheme (Rops) market following two years of uncertainty.

Published : 27, Oct 2016
HMRC data shows £7.6bn withdrawn since UK pension reforms

HMRC data shows £7.6bn withdrawn since UK pension...

Nearly £7.6bn ($9.2bn, €8.5bn) has been paid out of UK pensions since reforms came into effect in April last year, according to the latest figures published by HM Revenue & Customs (HMRC).

Published : 26, Oct 2016
IFA bdhSterling denies a fall in demand for Rops

IFA bdhSterling denies a fall in demand for Rops...

The director of the newly-rebranded bdhSterling has revealed that the advisory firm has seen a dramatic increase in the number of clients looking transfer their pension into a recognised overseas pension schemes (Rops).

Published : 26, Oct 2016

Sponsored Content

Gulf IFAs face ‘year of reckoning’ as clients turn away
Gulf IFAs face ‘year...

Financial advisers in the Middle East are finding clients...

Malta the ‘big winner’ of UK’s extensive Rops reforms
Malta the ‘big winner’...

Malta will be the "main winner" of HM Revenue & Customs'...

St James' Place doubles adviser numbers in Asia
St James' Place doubles...

St James’s Place has expanded its presence in Asia...

Director of collapsed IFA firm banned after £4m goes missing
Director of collapsed...

The director of a bankrupt UK-based IFA firm, who also...

South Africa considering tax changes to offshore pension funds
South Africa considering...

South African tax authorities may clamp down on the...

OTHER STORIES FROM LAST WORD...