UK pension transfer risks rise for investors and advisers

UK pension transfer risks rise for investors and...Lock icon

The sharp increase in people transferring out of defined benefit (DB) pension schemes poses risks for investors and the industry, says Tom McPhail, head of policy at Hargreaves Lansdown. His warning comes as the UK’s pension transfer industry remains under close regulatory scrutiny.

Published : 12, Apr 2017
Boal & Co signals move away from Asia in Malta Qrops debut

Boal & Co signals move away from Asia in Malta...Lock icon

Isle of Man-headquartered Boal & Co has launched its first Malta-based Qrops as part of a strategic shift of marketing these schemes away from the Asia region.

Published : 10, Apr 2017
IVCM on why Australia is still a ‘huge market’ for Qrops

IVCM on why Australia is still a ‘huge market’...Lock icon

IVCM’s Cameron Law talks about how British expats retiring to Australia and New Zealand can still transfer their UK pensions into a qualifying recognised overseas pension schemes (Qrops) without incurring the UK's new 25% tax charge.

Published : 10, Apr 2017
Harbour Pensions sees Qrops rise in EEA market despite 25% tax

Harbour Pensions sees Qrops rise in EEA market...

Malta-based Harbour Pensions is predicting “increased interest” in the European Economic Area (EEA) Qrops market after forging a renewed partnership with the Federation of European Independent Financial Advisers (Feifa).

Published : 10, Apr 2017
UK IFA banned over advice to invest £12m in store pods

UK IFA banned over advice to invest £12m in store...

A former UK adviser has been banned from being a director for nine years after his now collapsed IFA firm gave advice to over 300 clients to invest £12m (€14m, $14.8m) in unregulated investments in storage units.

Published : 10, Apr 2017
Sipp provider Liberty reports massive 87% rise in assets

Sipp provider Liberty reports massive 87% rise...Lock icon

Liberty Sipp, a UK provider of self-invested personal pension schemes (Sipps), has increased its assets under management by an astonishing 87% over the last year.

Published : 7, Apr 2017
Dubai advisers share challenges facing retirement planning

Dubai advisers share challenges facing retirement...Lock icon

From the new Qrops tax charge in the UK to the growing international mobility of clients, financial advisers in Dubai give their views on the challenges they face in helping clients plan for their retirement.

Published : 5, Apr 2017
Gibraltar shuns flexible access in surprise Qrops twist

Gibraltar shuns flexible access in surprise Qrops...Lock icon

Gibraltar will not drop its rule that 30% of a Qrops fund can be taken tax free despite a widespread industry view that HM Revenue & Customs requires full flexible access for all qualifying schemes.

Published : 31, Mar 2017
What the changes to the UK nil rate band mean for IHT planning

What the changes to the UK nil rate band mean...

A staggering 70% of people have no understanding of the new residence nil rate band allowance coming into force on 6 April, which could have serious implications for their inheritance tax planning, warns Old Mutual Wealth financial planning expert, Rachael Griffin.

Published : 31, Mar 2017
Five ways to benefit at the pension last chance saloon

Five ways to benefit at the pension last chance...

Pension savers in the UK have up until midnight on 5 April to maximise their contributions to offset this year’s tax bill, says Nathan Long, senior analyst at Hargreaves Lansdown. Here he suggests five ways savers can make the most of their unused allowances.

Published : 30, Mar 2017
Triggering of Article 50 a fresh blow for Qrops

Triggering of Article 50 a fresh blow for Qrops...Lock icon

The UK government’s move on Wednesday to kick start the official two-year process for leaving the European Union is likely to be a further blow to a Qrops industry still reeling from the shock 25% charge imposed earlier this month.

Published : 29, Mar 2017
Advisers still wary of giving DB transfer advice

Advisers still wary of giving DB transfer advice...

UK advisers remain wary of defined benefit (DB) pension transfers due to the risks associated with challenges to historic advice, research has found. This is despite two thirds of advisers expecting a “big increase” in client enquiries about DB to DC transfers over the next 12 months.

Published : 28, Mar 2017
Copia launches managed portfolios targeted at decumulation

Copia launches managed portfolios targeted at...

Copia Capital Management, the discretionary fund management division of Novia Financial, has launched a range of managed portfolios purpose-built for decumulation.

Published : 24, Mar 2017
More firms in the FCA firing line after Holborn sanctions

More firms in the FCA firing line after Holborn...Lock icon

Several more firms are at risk of being sanctioned by the Financial Conduct Authority (FCA) as the regulator steps up action against international IFA firms specialising in overseas pension transfers, says Tim Searle, chairman of Dubai-based advisory firm Globaleye.

Published : 23, Mar 2017
Gibraltar names date for Qrops test regulations to go live

Gibraltar names date for Qrops test regulations...Lock icon

Gibraltar’s government has revealed that it will put in place personal pension regulations "on or before 31 March", enabling the jurisdiction’s Qrops to retain their status.

Published : 23, Mar 2017
Treasury ruling out pension raid for now claims AJ Bell

Treasury ruling out pension raid for now claims...

AJ Bell is claiming that the UK Treasury has ruled out changes to pension tax relief within the next few years, despite government sources suggesting that this is on the agenda after the post Spring Budget climbdown on national insurance contribution rises for the self-employed.

Published : 22, Mar 2017
Holborn Assets ordered to immediately cease pension transfers

Holborn Assets ordered to immediately cease pension...Lock icon

The UK Financial Conduct Authority has ordered Holborn Assets Ltd to immediately cease all pension transfer business, particularly that introduced by overseas advisers.

Gibraltar ‘in danger’ of losing Qrops status

Gibraltar ‘in danger’ of losing Qrops statusLock icon

Gibraltar must put in place a system for regulating personal pensions in just over two weeks to enable the jurisdiction’s Qrops to retain their status and continue to operate in the market.

Published : 21, Mar 2017
Why the new Qrops five-year circumstance change is critical

Why the new Qrops five-year circumstance change...

Many advisers woke up last Thursday morning aware their pipeline Qrops business had just been vastly reduced, says James Pearcy-Caldwell, co-founder of fee-based adviser Aisa International.

Published : 15, Mar 2017
Scotland could become jurisdiction for ‘new type of Qrops’

Scotland could become jurisdiction for ‘new type...

An independent Scotland could be the base for a “new type of Qrops”, a leading law firm's pensions expert has predicted.

Published : 14, Mar 2017

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