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Latest - PENSIONS

  • Supreme Court ruling on civil partnership will affect inheritance and tax rights

    3 July 2018

    The Supreme Court has ruled that a heterosexual couple can enter a civil partnership, offering legal and financial protection for both parties and a host of benefits including inheritance, tax, pensions and next-of-kin arrangements. Rachael Griffin, tax and financial planning expert, Old Mutual Wealth, said: “The future of civil partnerships has been swung wide...

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  • Default decumulation option inconsistent with freedom and choice reforms, says DWP

    3 July 2018

    The pensions industry has welcomed the government’s decision to reject a proposal to introduce a default decumulation pathway at retirement. In April, The Work and Pensions Committee published a report in which it recommended that every pension provider offering drawdown be required by FCA rules to offer a default decumulation option. However, in its...

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  • Put yourself first – think about your retirement earlier, over 45s urged

    2 July 2018

    New research has found that 62 is the age at which Britons finally start to enjoy their wealth and concentrate on their own future. So should they be meaner and start thinking about themselves earlier? The findings by pension advice specialist Portafina also revealed that the top five aspirations of those aged 45 and above...

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  • Voluntary code of conduct proposed for pensions advice

    2 July 2018

    The Personal Finance Society has formed a new Pensions Advice Taskforce, designed to provide a voluntary code of conduct for the pensions advice industry, in the wake of the British Steel Pension Scheme scenario. The PFS said its main focus was upon sharing good practice and providing a code of conduct that “gives clear...

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  • New life expectancy report service targets DB pension transfers recommendations 

    1 July 2018

    MorganAsh has launched a new life expectancy report to help financial advisers when making recommendations on defined benefit (DB) pension transfers. It follows the FCA’s recent requirement that advisers recommending on DB transfers plan for a client to live a “reasonable” period beyond average life expectancy. According to the health and underwriting services firm,...

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  • July / August Issue OUT NOW

    28 June 2018

    In your bumper edition of Professional Paraplanner this month we have two specials for you: Click here to read The Professional Paraplanner Awards 2018 – We celebrate our second year of awards, recently held at the Grange St. Paul Hotel, London AND a Tax Special. In this 8-page section, we look at inheritance tax...

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  • Technical: Key differences when selecting between a SIPP or SSAS

    27 June 2018

    Martin Tilley, director of Technical Services, Dentons Pension Management looks at the respective benefits of the SIPP and SSAS structures and what to look for when selecting product providers for each. Recent press on SIPPs and SSAS has not been complimentary. However, since the mid-1970s and the early 1990s respectively, SSASs and SIPPs have been...

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  • AJ Bell call to make pensions and ISAs exempt from IHT

    26 June 2018

    AJ Bell has called for the UK government to exempt pensions and ISAs from inheritance tax as part of its mission to simplify the savings landscape.  In response to a request by the Office of Tax Simplification for evidence on IHT, AJ Bell says it described the current HMRC rules as “arcane”, forcing most...

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