Radical change, at least within the financial services sector, tends to happen slowly, and is often the response to external pressure being applied elsewhere. This is particularly true when it comes to the...
GBST has upgraded its pension drawdown offering, enabling clients more flexibility about how they take an income in retirement. GBST provides wealth administration software through its composer platform, and said these changes...
While the end-goal of guaranteed minimum pensions (GMP) equalisation is clear – to equate the historical pension benefits for men and women – the related challenges, and opportunities, are less so. Initiating...
Nine out of 10 employers claim employees don't understand the tax rules when withdrawing money from their pension. This employer survey was conducted by Wealth at work, which provides guidance and advice...
Most auto-enrolment schemes have trustees responsible for looking after member interests, ensuring schemes are well-run, communicating clearly with members and offering suitable investment options. But many pension trustees are overlooking the interests...
The number of people making withdrawals from their pensions has hit a record high, according to the latest HMRC figures. In the third quarter of 2018 there were 585,000 withdrawals made under...
The court overturned an earlier judgement, and ruled that HMRC could impose 40 per cent IHT on pension transfers made by those who know their life expectancy is impaired. Effectively this means...
The debate over whether trust or contract pension arrangements are superior is decades old. Yet with such a high level of regulatory change, product development and scale on the master trust side, the answer to the question...
HM Treasury has confirmed it is looking to tackle anomolies in the auto-enrolment system which has seen up to one million low-earners miss out on tax relief. Its statement, which says it...
The Chancellor’s decision to leave pensions tax relief unchanged in yesterday’s Budget has divided the industry between those relieved at the maintenance of the status quo and those calling for a big...
