May 2018


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  • How pension freedoms overtaxing works

    16 April 2018

    A growing number of pension savers withdrawing cash under the pensions freedoms are being over-taxed and the start of the new tax year is the worst time fall into this trap. As the pension freedoms celebrate their three year anniversary, savers planning to make ad-hoc pension withdrawals in the new tax year risk being overtaxed...

  • Technical: Divorce Bill, financial planning and the silver divorcee

    12 April 2018

    Clare Moffat, senior technical manager, Prudential, looks at the divorce (Financial Provision) Bill and how it may affect clients’ financial plans and in particular, the ‘silver’ divorcee. The Divorce (Financial Provision) Bill passed through its second reading in the House of Lords in January 2017. No date has yet been set for Committee stage...

  • Consumers struggle with drawdown complexity

    10 April 2018

    Advice and investment pathways are necessary to avoid consumers putting themselves at risk, say commentators. A new review by the FCA has found that demand for drawdown has risen, yet many consumers are struggling with the complexity of decision making around the rules. In the review, the FCA said that while firms were providing...

  • Non-advised drawdown risks higher tax bills and running out of money

    9 April 2018

    Pension investors who have been using the pension freedoms to take an annual income may now have more in their pension pot than they started with, but risk running out of money in the long-term, according to Aegon. According to Aegon’s estimates, someone with an average fund of £148,750 may have seen their fund...

  • More people saving for retirement but too many choosing non-advised drawdown, surveys find

    8 April 2018

    As the pension freedoms celebrate their third anniversary, new research has shown that people are saving more for their retirement, while the over 55s are working longer to fulfil their retirement plans. Research by Prudential found that among those aged over 55, around 12% said they or their partner will work full- or part-time...

  • New paraplanner webinar series from Canada Life to tackle technical and tax issues

    8 April 2018

    Canada Life is launching a series of new webinars specifically designed to answer the most common and difficult questions facing paraplanners.  The company will be running three webinars over the next few weeks via its Paraplanner Academy. These will focus on achieving the right order of gifting, how to get the most from a...

  • 41% in drawdown risk running out of money

    5 April 2018

    AJ Bell has warned that two out of five people are making annual withdrawals of more than 10% of their fund, running the risk of a shortfall.  Analysis by AJ Bell found that on average, people were withdrawing £6,612 annually from an average pension fund of £104,000. With an average expected investment return of...

  • Value of SIPP/SSAS property purchases up 38%

    21 March 2018

    Xafinity SIPP/SSAS, part of pension specialist Xafinity Punter Southall, has reported a jump in the number of investors turning to commercial property investments and the value of those transactions. The firm said 178 commercial property transactions were completed in 2017. The total value of the properties was £62.3m, marking a 38% increase in value on...