June 2018
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Latest - PENSIONS

  • 1 in 10 over-55s fear they have been scamming target

    15 May 2018

    Nearly one in 10 over-55s worry they’ve been targeted by suspected scammers since the introduction of the pension freedoms three years ago, but many are unaware how to report it, according to new research by Prudential.  The study found that 9% of over-55s had been approached about their pension funds by people they now...

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  • Technical – SIPP providers’ asset acceptance procedures – commercial land

    13 May 2018

    Martin Tilley, director of Technical Services, Dentons Pension Management, looks at where proposals to add commercial land to a SIPP are more likely to be accepted. SIPP providers’ asset acceptance procedures have been under the spotlight in the recent past and whilst it is generally considered that these processes apply to the more esoteric...

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  • Transfer values dip again

    10 May 2018

    Pension transfer values as measured by the Xafinity Transfer Value Index fell during April 2018. The index was £235,000 at the end of March and £232,000 at the end of April. The difference between maximum and minimum readings of the Xafinity Transfer Value Index over April 2018 was £6,700 (or around 2.9%). Over the...

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  • Lifetime allowance tax take continues to grow as individuals ‘penalised’

    10 May 2018

    The annual amount of tax collected from people exceeding the lifetime allowance has soared by 1000% in 10 years, a freedom of information request by Retirement Advantage has revealed. The arbitrary tax penalises individuals who have enjoyed good returns on their investments, the retirement specialist said. In 2006/07, the annual tax take was less...

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  • Old Mutual launches new TVA service on 14 May

    9 May 2018

    Old Mutual Wealth is launching a new Transfer Value Analysis (TVA) service, from 9am on 14 May 2018, following the suspension of its old service in April, in response to the clarification made by the Financial Conduct Authority in PS18/6. The company said that in line with the new regulatory guidance, it would be...

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  • Pension freedoms withdrawals up sparking retirement decision concerns

    9 May 2018

    Pension savers are making the most of the pension freedoms, with over £17bn worth of payments being made since 2015, according to new figures published by HMRC, but concerns are raised around lack of understanding and the ability of consumers to make the best decisions regarding their retirement. The data showed a continued upwards trend...

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  • Defaqto publishes independent analysis of workplace pension schemes default funds

    7 May 2018

    Defaqto has published its workplace pension schemes default funds. The purpose of the guide, which is now in its second year, is to provide independent analysis of the workplace pension schemes available and their default funds, Defaqto said.  All workplace pension providers known to the financial information group were asked to contribute to the...

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  • Increase in early retirees, who are taking a hit on their income

    3 May 2018

    Nearly two thirds (60%) of those stopping work this year will do so before their state pension age or company pension retirement date, but it could hit their annual finances by over £3,000 according to a study by Prudential. The life assurer’s annual study, Class of 2018, found those planning on retiring early could...

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