United Kingdom
Retirement | 25 Nov 16
UK scraps 70% ‘income for life’ rule for overseas pensions
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.
Investment | 24 Nov 16
Momentum’s Klempster on outcome-based asset allocation
James Klempster says the three Momentum Factor multi-asset funds are more aligned to clients’ real-world outcomes than their traditional counterparts
Standard Life confirms Elevate staying a standalone platform
Standard Life has confirmed that Elevate will continue as a distinct platform after months of speculation that it could be combined with the investment firm’s Wrap proposition.
Charles Taylor agrees to buy Zurich’s closed book
Isle of Man-based Charles Taylor has agreed to buy one of Zurich’s closed book of international life assurance business as well as Allied Dunbar International Fund Managers.
Retirement | 24 Nov 16
Industry divided on planned UK overhaul of overseas pensions
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.