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Latest - PENSIONS

  • Survey looks at financial terminology understood by consumers

    26 July 2018

    Financial terminology remains a minefield for many UK adults, with a large number lacking the knowledge and confidence to correctly understand the different meanings, according to research by Reboot Online Digital Marketing Agency.  Of all the financial terms, Reboot Online found ‘savings account’ was the best understood, with 92% of British adults feeling confident...

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  • 1 in 5 over-50s to change their retirement plans

    26 July 2018

    The pension freedoms has prompted one in 5 over-50s to change their retirement plans, spurred on by the flexibility to access their pension at the age of 55. In research published by Retirement Advantage, the firm described the behaviour as “demob fever”, with official stats showing most consumers (72%) who accessed their pot did so...

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  • Why SSAS and not a SIPP?

    24 July 2018

    SSAS can be more effective for multi members than using a SIPP in certain scenarios, explains Paul Darvill, director, Talbot and Muir.  Over the last few years Small Self Administered Schemes (SSAS) have somewhat taken a back seat to Self Invested Personal Pensions (SIPP) in terms of popularity. There are, however, compelling reasons why SSAS can...

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  • What constitutes taxable property in a SIPP?

    22 July 2018

    Martin Tilley, Director of Technical Services, Dentons Pension Management looks at the rules around taxable movable property, some unusual circumstances and assessing the risks involved. As a SIPP provider, we are often asked to comment on the acceptability of an asset. Despite the uncertainty surrounding SIPP due diligence, one point is not in dispute...

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  • Women face gender pension gap of around 11%

    19 July 2018

    Women face a worrying gender pension gap, according to new research from Fidelity. Young women aged in their late 20s and early 30s are projected to save a pension pot 11% smaller than men by the time they retire, the investment group said. The report suggested a typical 25 to 34 year old woman’s...

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  • The pension industry should run Pensions Dashboard

    18 July 2018

    Gareth Sawyer, managing director of Workplace Solutions, Punter Southall Aspire argues that the pension industry should run the Pensions Dashboard. The pensions dashboard, the online project being created to help millions of people keep track of their pensions was first announced by then chancellor, George Osborne, in 2016, and will enable people to view...

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  • Industry responds angrily to suggestions Pensions Dashboard might be axed

    17 July 2018

    The financial services industry has responded angrily to the suggestion made by Secretary of State for Work and Pensions Esther McVey published in The Times, that the Pensions Dashboard might be scrapped, saying it made “little sense” would ultimately “make people’s retirement planning harder” and would make the industry “legitimately question” whether involvement in...

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  • Lower volatility as transfer values remain stable

    16 July 2018

    Pension transfer values as measured by the XPS Pensions Group Transfer Value Index fluctuated mildly during June 2018, with a small fall during the month.  The index was £234,000 at the end of May and £233,000 at the end of June. The difference between maximum and minimum readings of the XPS Pensions Group Transfer...

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