Why all int’l advisers must pay attention to the UK regulator

Why all int’l advisers must pay attention to the...Lock icon

The trouble with retirement planning is that there are many different rules and regulations as successive governments add their stamps to the way we save for and use our pension pots.

Published : 27, Feb 2017
Drawdown beats annuities but pension cash is king

Drawdown beats annuities but pension cash is king...Lock icon

More than half of UK pension pots accessed for the first time were withdrawn entirely as cash lump sums in Q3 2016. Drawdown proved twice as popular as annuities but a fall in the number of people seeking advice before making pension decisions has some in the industry concerned.

Published : 24, Feb 2017
UK's Prudential to enter DB transfer advice market

UK's Prudential to enter DB transfer advice market...

UK insurance giant Prudential said it will begin offering clients advice on the increasingly contentious area of defined benefit (DB) pension transfers.

Published : 23, Feb 2017
Average life expectancy on the rise around the world

Average life expectancy on the rise around the...Lock icon

Average life expectancy in high income countries such as the UK, Germany, the US, Australia and Canada is set to increase by 2030 while South Koreans are likely to live the longest, according to research published in the British medical journal Lancet.

Published : 22, Feb 2017
Castle Trust launches multi-jurisdictional Rops

Castle Trust launches multi-jurisdictional Rops...

Gibraltar-based Castle Trust Group has launched the Centurion Retirement Plan featuring recognised overseas pension schemes (Rops) in Gibraltar and Malta that allow free switching between the schemes and jurisdictions to suit clients’ changing needs.

Published : 22, Feb 2017
Easier rules for small DB pension transfers considered

Easier rules for small DB pension transfers considered...Lock icon

The UK government is open to considering a relaxation of the current rules around defined benefit pension transfers where the saver's entitlement is quite small, a new consultation paper released on Monday showed.

Published : 20, Feb 2017
UK plans to reform DB schemes trigger alarm bells

UK plans to reform DB schemes trigger alarm bells...Lock icon

The UK government has suggested softening the rules on how defined benefit (DB) pension schemes should adjust payouts for the impact of inflation in a new report on tackling challenges facing the sector.

Published : 20, Feb 2017
Mixed responses to UK pension scam consultation

Mixed responses to UK pension scam consultation...Lock icon

The UK government's consultation on tackling pension scams received mixed responses, as it acknowledged that the pension freedoms may have contributed to the rise in scams.

Published : 16, Feb 2017
All Canadian schemes removed from HMRC Rops list

All Canadian schemes removed from HMRC Rops list...Lock icon

UK pension transfers to Canada have been effectively blocked after the three remaining Canadian recognised overseas pension schemes (Rops) were removed from HM Revenue & Customs' (HMRC) list on Wednesday.

Published : 15, Feb 2017
UK taxman shutting down online Rops service

UK taxman shutting down online Rops serviceLock icon

HM Revenue & Customs (HMRC) will close its online service for managing recognised overseas pension schemes (Rops) on 5 April 2017, as it is no longer collecting the information the taxman needs.

Published : 14, Feb 2017
Scam risk higher for small and overseas pension schemes

Scam risk higher for small and overseas pension...Lock icon

Overseas pensions and small self-administered schemes (Ssas) “present the greatest risk of being used as vehicles for scams”, the Pensions and Lifetime Savings Association (PLSA) has said.

Published : 14, Feb 2017
Sipp complaints to ombudsman over risk suitability down 12%

Sipp complaints to ombudsman over risk suitability...

Complaints about self-invested personal pension scheme (Sipps) investments not matching client risk appetites declined by a third over the past two years, according to new figures obtained by UK IFA firm Salisbury House Wealth.

Published : 13, Feb 2017
Triple lock ‘should be reviewed’ after pensioner income rise

Triple lock ‘should be reviewed’ after pensioner...Lock icon

The UK pensions triple lock should be reviewed after a report found that typical pensioner incomes now outstrip the earnings of working age households, says Old Mutual Wealth pensions expert Jon Greer.

Published : 13, Feb 2017
Novia Financial launches DB pension transfer service

Novia Financial launches DB pension transfer service...

Novia Financial has launched a transfer value analysis system (TVAS) service to help advisers compare the pension benefits under defined benefits (DB) schemes with the Novia self-invested personal pension (Sipp).

Published : 10, Feb 2017
UK court opens door to pension rights for unmarried partners

UK court opens door to pension rights for unmarried...Lock icon

The UK Supreme Court has ruled that an unmarried woman is entitled to her late partner’s occupational pension in a landmark decision that could have wider repercussions for pension schemes.

Published : 8, Feb 2017
UK Sipp complaints continue to rise, reveals Ombudsman

UK Sipp complaints continue to rise, reveals Ombudsman...

Complaints about self-invested personal pension schemes (Sipps) have increased, according to latest figures from the UK’s Financial Ombudsman Service (FOS).

Published : 7, Feb 2017
UK investigates overseas pension transfers in scam crackdown

UK investigates overseas pension transfers in...Lock icon

The Financial Conduct Authority (FCA), the UK’s financial services regulator, is currently investigating overseas pension transfers as part of a move to tackle widespread investment fraud, according to Paul Davies, director of advisory firm bdhSterling.

Published : 31, Jan 2017
Cold calling continues to rise despite proposed ban

Cold calling continues to rise despite proposed...

In spite of warnings from government and the pensions industry, 7% of UK adults said they had released some or all of their pension savings as cash after being cold contacted, research from Phoenix Group has found.

Published : 30, Jan 2017
Qnups in retirement planning: a case study on Peter

Qnups in retirement planning: a case study on...Lock icon

In this second instalment on Qnups in wealth planning, the director of Isle of Man-based pension provider Optimus, Martin Hall, runs through a case study where Qnups are the right solution for the client.

Published : 30, Jan 2017
UK pension freedoms trigger £9.2bn in outflows

UK pension freedoms trigger £9.2bn in outflows...

The UK’s radical pension freedom reforms have led to over £9.2bn (€10.7bn, $11.5bn) getting encashed from pension plans since April 2015, HM Revenue & Customs revealed on Wednesday.

Published : 25, Jan 2017

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