Latest - PENSIONS

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  2021 Outlook for SIPPs

  18 January 2021

  What might the market see in the Self Invested Pension Sector in 2021? Will Self, CEO, Curtis Banks takes a view In the light of how decisively 2020 has shown that plans can change without warning, it might seem rather optimistic to make predictions for 2021. However, given the events of 2020 and the lessons...

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  Digitisation will lead pensions sector in 2021

  17 January 2021

  The pensions sector will continue to digitalise in 2021 to meet growing client demand, says  iPensions Group.  The firm said the impact of Covid-19 has sped up the digital transformation of the sector and helped to reduce costs and risks for providers, placing pressure on firms relying on outdated legacy systems. iPensions Group warned...

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  Govt looks for £800m through new Dormant Assets Scheme

  11 January 2021

  The UK Government has announced an expansion of its Dormant Assets Scheme, which will unlock more than £800 million to support the UK’s recovery from Covid-19. Dormant assets across the insurance and pensions, investment, wealth management and securities sectors are set to be unlocked, following a four-year review and public consultation. While the scheme’s...

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  Confusion ‘rife’ around retirement choices

  5 January 2021

  Uncertainty around retirement choices remains rife among those nearing retirement, new research from Just Group has shown. Three in five (59%) 45-54 year olds said they were confused by their choices, with this figure rising to as much as 65% among women, according to the retirement specialist. Furthermore, only just over one in 10...

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  Greater education on SIPPs and pension consolidation needed

  5 January 2021

  New research has found that a lack of understanding continues to surround self-invested personal pensions, requiring greater education and information around pension consolidation.  According to investment platform EQi, nearly one in six (14%) Britons has never heard of SIPPs. Furthermore, 12% were aware of SIPPs but did not understand the rules around moving pensions,...

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  18-34 year olds expect to work into their 70s

  4 January 2021

  Younger generations expect to work beyond the age of 70, driven by a lack of retirement savings, according to Canada Life. Over half (56%) of 18-34 year olds expect to work until they are at least 70, with a third (33%) concerned their pension savings will not be enough to fund their retirement and...

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  Diversity improves decision-making in pension firms

  3 January 2021

  Greater diversity and inclusion can increase a pension scheme’s effectiveness, new research has revealed. A survey by the Pensions and Lifetime Savings Association(PLSA) found that 91% of pension schemes believe diversity will improve decision making and help to attract and retain talent, while 89% agreed that it can improve the representation of members’ interests. But despite the...

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  Pension transfers information – a clear candidate for efficiency gains

  21 December 2020

  The process of obtaining client’s information from pension schemes is clearly in need of efficiency gains to be made through greater standardisation. ATEB’s Steve Bailey looks at the Regulators’ attempts to deliver clarity. Firms that provide advice on defined benefit pension transfers will be aware that it is not always straightforward to obtain details...

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