Pensions policy disruption
Being warned to prepare for a year of disruptive pensions policy, advisers are facing the prospect of long-term savings being viewed in a completely new light.
Mothers opt out of millions
Thousands of mothers are missing out on state pension rights according to the ninth Royal London Policy Paper.
Looming article 50 ruling: overseas pension transfers surge
According to recent research, the forthcoming triggering of Article 50 is helping to propel the current rush to move UK final salary pensions into overseas schemes.
Estate uncertainty for most over-55s
According to new research, the majority of UK over 55s (62%) are largely unaware of the amount of money they’ll be able to bequeath to their next of kin following death.
Hammond advises on pensions savings
Chancellor of the Exchequer, Philip Hammond has stated that he wants to discourage people tying up their wealth in property and tackle the “structural issues” surrounding UK pension saving. In an appearance before the Treasury, the Telegraph reported that Hammond suggested a review of household savings and how these could be utilised to aid the […]
Appeal dismissed for banned pensions trustee
Nearly five years after he was struck off, a former pension scheme trustee who had attempted to appeal a ban from The Pensions Regulator (TPR) has had his case dismissed by the Upper Tribunal. Through a notice issued in October 2011, TPR sought to ban Robert Hill, alleging he was not a “fit and proper […]
Death benefit small print
When passing on death benefits, pension freedoms have brought in an element of legislative scope. However, in order to ensure death benefits are passed on in the way the client intended, it is important that the rules of their specific pension scheme are checked, as these are the ones which apply. The implications of failing […]
Rising demand to cash in final salary pensions
A clear demand to cash in defined benefit pension schemes has been observed, following the introduction of pension freedoms. The sudden spike in those seeking to bank their final salaries is at a time where the value of transfers is at an all-time high. Starting at age 65, a member of the defined benefit (DB) […]
Age could impact pension tax relief, say new Government proposals
Whether the latest proposed changes to pension tax relief will actually encourage saving has led to varied opinions among numerous advisers and providers.
Identity thief steals £90,000 from couple’s pension pot
A fraudster who stole a couple’s personal details in an attempt to defraud them of their £90,000 pension now faces over seven years in prison.
New pension regulations for master trusts launched
The Government has published the new Pension Schemes Bill, outlining new pension regulations for master trusts and strengthening existing legislation on exit charges.
Advice requirement for pension transfers could be scrapped in DWP plans
The abandonment of required FCA-authorised advice regulations over transfer of safeguarded benefits, is being considered by the Government
Work and Pensions Committee call for State Pension Hotline service
The Work and Pensions Committee have urged the Government to write to those individuals it projects will reach pension age with fewer than 10 qualifying years and thus fail to qualify for the new state pension. The Government has agreed to write directly to some 100,000 people who do not meet the Minimum Qualifying Period […]
£6 billion drawn out by pensioners using new pension freedoms
Pensioners in the UK have taken £6 billion from their pension pots using new pension freedoms given to them by the former Chancellor George Osborne. According to HMRC, 159,000 have accessed their pension savings since April, bringing the total past three quarters of a million people. The Government has also announced plans to protect consumers […]
Why not upsell with a free pension review?
Profile FS offers a free scheme for the Wills and Probate industry, allowing professional will writers to offer their clients a free pension review whilst writing their will, an easy opportunity to upsell which also increases your value to the client. For existing clients it’s a good reason to book a meeting and do a […]
232,000 have used pension flexibility freedoms in it’s first year say HMRC
Nearly a quarter of a million of exercised new freedoms that enable them to use their pension pots more freely according to information from HMRC. According to a statement, people who have “worked hard and saved their entire lives” have now accessed £4.3 billion worth of flexibility from those pensions pots. The Pension Wise service […]
Two million 55-64 year olds targeted with unsolicited pension review calls
Pensions advice and review scams are now the leading form of unsolicited contact for people approaching retirement with up to two million receiving unsolicited calls in the past year alone according to Citizens Advice. A report titled “Too Good to be True” produced by Citizens Advice also revealed those between 55 and 64 are also […]
George Osborne’s call for cap on pension exit fees welcomed
George Osborne has called for a cap to be placed on pension exit fees with the FCA set to swing into action on the issue once a consultation has been completed. Speaking at Treasury Oral questions in the House of Commons, the Chancellor said: “The pension freedoms we’ve introduced have been widely welcomed, but we […]
Have the pension freedoms failed?
Recent studies recommended that those of retirement age should be made to save some of their pension pot so they have an income in retirement, with researchers suggesting pension freedoms be partially reversed. It was nearly 7 months ago the law was changed to give those aged 55 and above access to their savings. Pension […]
Scam it!
With the recent changes to pensions giving people greater freedom of choice, with that comes the need to be more diligent than ever. In recent years pension scamming has increased, with recent figures revealed by City of London police showing that a staggering £9.1 million worth of scams have been reported between April and August […]
