It is now five years since the introduction of pension freedom rules, but there is still widespread confusion about retirement options, particularly among the 50-plus age group. One in four savers (26...
The new chancellor Rishi Sunak, has dropped plans to reduce higher rate tax relief on pensions, according to reports this weekend. Briefings suggest this change of plan comes after fierce opposition by...
Advisers have called on the government to provide urgent clarification on equalising guaranteed minimum pensions in order to address concerns by trustees and sponsoring companies. HMRC has recently published guidance about this...
The Government has published further guidance on how pension schemes should deal with the equalisation of Guaranteed Minimum Pensions (GMP). This follows a high court ruling that schemes must equalise these benefits...
Large employers are increasingly using third parties to review financial advice given on transfers from defined benefit pensions, according to a report in the Financial Times. It found that a number of...
Concerns have been raised that attempts to restrict higher rate tax relief on pensions could “kill off” remaining DB schemes in the private sector, and create further funding issues for public sector...
Tenfold increases in professional indemnity insurance premiums and restricted cover terms are causing financial advisory firms to turn away clients needing government mandated advice on DB pension transfers, says The Personal Finance...
Defined benefit transfers hit their highest level for a year despite repeated signals from the FCA that it is unsatisfied with transfer advice decision-making. XPS Pensions Group’s Transfer Activity Index recorded an increase in the...
Large pension schemes will be compelled to report on their climate change strategies under an amendment to the Pension Schemes Bill published today. The PLSA has attacked the amendment as a dangerous...
Defined contribution (DC) assets across the world’s six largest pension markets exceeded defined benefit (DB) assets for the first time in 2019, research from the Thinking Ahead Institute has found. The research...
