September 2017
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Latest - PENSIONS

  • How to make the LISA better

    16 August 2017

    Scottish Friendly has put forward a 6-point plan to correct the flaws it sees in the Lifetime ISA Scottish Friendly has outlined a series of recommendations to enhance the Lifetime Isa (LISA) and help it achieve its potential. The Glasgow based financial mutual has called on the Government to reform the product to ensure...

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  • Pension transfer values ‘fairly stable’ compared to Q2

    16 August 2017

    Xafinity has reported that its measure of the value of Defined Benefit  transfers – as indicated by the Xafinity Transfer Value Index – stayed relatively stable in July, falling by less than 1% from £232,000 at the beginning to £230,000 at the end of the month. The difference between maximum and minimum readings of...

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  • Planning for death should be part of every review meeting

    14 August 2017

    Mike Morrison, head of Platform Technical, AJ Bell, looks at ONS figures and how they may affect pre- and a post- age 75 financial plans In theory, pensions are to provide you with an income for the rest of your life. In practice, many people look forward and plan to leave as much as...

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  • Industry disconnect seen as cause of DB pension transfer delays

    10 August 2017

    Standard data set and automated transfer solutions would formalise the information required and help speed up DB transfer process, says Origo. New research from Origo has highlighted how the significant increase in demand for DB transfers has led to processing issues throughout the transfer process, creating delays for pension scheme members and frustrations for...

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  • Aegon calls for the Pensions Advice Allowance and Adviser Charging to be combined

    7 August 2017

    Steven Cameron, pensions director at Aegon, voices the insurer’s concern that the Pensions Advice Allowance has failed to take off in the way the Government anticipated and looks at why. The Pensions Advice Allowance, was designed by the Treasury with the admirable aim of offering pension savers a new way of paying for advice on retirement planning....

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  • Pension Regulator shows “it has teeth” with auto-enrolment crackdown

    7 August 2017

    Punter Southall Aspire has flagged the increased number of inspections by the Pensions Regulator (tPR) and the use of its powers “to crack down on firms whose auto-enrolment schemes were found to be non-compliant“ and the need for companies to review and audit their schemes on a regular basis. The Pension Regulator’s latest figures...

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  • Partial DB pension transfers would provide better consumer outcomes but add to pressure on pension scheme systems

    3 August 2017

    Standard Life has called for the partial transfer of DB pensions to be made a mandatory requirement in the FCA’s upcoming Defined Benefit (DB) regulations but others flag this would likely lead to increased transfer volumes, impacting systems already under pressure. The assurer said that rather than the “all or nothing” approach of either full...

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  • Estimated 1.8m over 50s targeted by scammers in just 3 months

    2 August 2017

    Research by Retirement Advantage suggests that 1 in 5 people (18%) aged 50 or over* has been targeted by a potential scammer in the past three months. This equates to 1.8m people who have been offered unsolicited free pensions advice or investment opportunities by phone, text or email. Andrew Tully, pensions technical director at...

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