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Latest - RETIREMENT PLANNING

  • FCA looks to tackle price discrimination against long-term cash account holders

    5 August 2018

    Easy access cash savings accounts could have a basic savings rate imposed to help tackle the price discrimination faced by longstanding customers, the FCA has suggested.  In its discussion paper on price discrimination in the savings market, the regulator expressed concern that interest rates for customers who stay loyal to their provider are lower...

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  • Adviser firms risk neglecting under 45s and intergenerational wealth

    2 August 2018

    Adviser firms are at risk of neglecting the under 45s and with it the chance to win inherited pots, a new report by Sanlam has warned.  Sanlam’s Generation Game report found that two thirds (66%) of advisers are not taking any steps to proactively engage with under-45s and a further quarter (23%) of advisers...

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  • DB transfers advice: tackling income sustainability

    1 August 2018

    DB transfer advice has much in common with drawdown advice but with a fundamental difference, says Alastair Black, head of Financial Planning Propositions, Adviser & Wealth Management Propositions, Standard Life There’s no doubt that pension freedoms has changed the retirement landscape, reigniting public interest in pensions and fuelling a wholesale move away from annuities to...

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  • Intervention needed to help understanding of pension freedoms choices

    30 July 2018

    The Treasury Select Committee has warned over the current level of consumer engagement and understanding of the pension freedom choices available to them. Since the introduction of the pension freedoms three years ago, 1.5 million defined contribution pension pots have been accessed. Of these, 72% belonged to customers below the age of 65, and...

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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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  • 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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  • Growing acceptance of the need to share care costs in run up to Govt Green Paper

    22 July 2018

    The public has shown overwhelming support for a deal between the state and the individual to share the cost of social care but there remains a divide on how much individuals should be expected to pay, new research from Aegon has shown. The research found that 68% of people were in favour of sharing...

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  • Change to people’s views on retirement age

    17 July 2018

    A quarter of people expect to still work at age 70, a new survey by Aegon has revealed.  In a survey of 700 consumers aged 18 to 64, 26.9% said they expect to be working either full or part time at age 70, suggesting a clear move away from the traditional practice of women...

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