Latest - PENSIONS

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  New technology ‘crucial’ to SIPP/SSAS sector

  1 October 2020

  Dentons Pensions says new technology will play a crucial role in driving the SIPP and SSAS sector forward as the Covid-19 pandemic continues to impact the way people interact with their finances. The pensions specialist said consumers want to feel “informed and in control” of their savings and investments, creating an opportunity for SIPP...

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  DB transfers drop off as regulation and insurance costs bite

  1 October 2020

  As the FCA’s contingent charging ban come into force, data from the regulator shows that the number of defined benefit transfers has already fallen. by almost a third in the past year. DB transfers made in 2019/20 fell 28% compared to the previous year, , with a total of 40,600 transfers made during the period, amid the...

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  Retirement journeys set to change ‘significantly’

  30 September 2020

  Advisers will need to be prepared to service clients on very different retirement journeys to their current client base, with the landscape set to change significantly over the next 15 years, according to Canada Life.   By 2035, there is forecast to be 20.9 million people over the age of 60, but their retirement experiences...

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  Saving clients from scams

  27 September 2020

  What should financial advice firms do if they suspect an investment a client wishes to invest in may be a scam? Steve Bailey, director ATEB Consulting, provides a view using a case study example. Scams are a scourge of the modern age. Of course, scammers and scams have probably existed for as long as...

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  iPensions Group launches online SIPP

  24 September 2020

  iPensions Group has launched an online SIPP, the first in a series of technology-led pension solutions for the firm.  The Platform SIPP will offer advisers and their clients access to over 2,500 investment options including funds, investment trusts, ETFs as well as cash and deposit accounts. All options have gone through a due diligence process...

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  Online scam numbers: Effective government action needed

  21 September 2020

  Quilter is calling for more action by government to prevent scams as its most recent Freedom of Information (FoI) request has revealed that less than 7% of pension fraud reports are being passed to the police, despite millions of pounds of retirement savings lost to scammers.  The FoI request by Quilter found that nearly 400...

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  Leading platforms call on fund houses to join STAR initiative

  21 September 2020

  Four of the industry’s largest platforms – Aegon, Fidelity, Hargreaves Lansdown and Standard Life – have contacted their fund groups requesting they support the STAR Transfers & Re-Registration initiative. STAR, a collaboration between Criterion and TeX, was established to shape recognised, industry-wide standards to promote good practice in transfers, thereby to improving outcomes for...

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  Cost of pausing a pension

  17 September 2020

  Canada Life is warning against pausing pensions contributions as a result of the Covid-19 crisis, as its research reveals that one in 10 workers has done so, with a further 13% considering it. Of those who paused contributions, nearly two fifths (37%) did so to use the money for essential spending, while a further 30% cited...

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