MARCH 2020
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Latest - PENSIONS

  • Can your client trust their pension transfer?

    2 April 2020

    What constitutes a recognised pension transfer? Gareth James, head of technical at AJ Bell looks at a recent court case where this became the focus of attention and the need for care and discretion. The liberation of funds from pensions using means that HMRC or the FCA have taken issue with has taken a number...

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  • Pension freedom withdrawals fall year-on-year

    2 April 2020

    Pension freedom withdrawals have continued to fall year-on-year, a new survey from AJ Bell has revealed. According to the pensions specialist, withdrawals fell to 4.4% of private retirement pots, down from 4.7% the previous year and 6.6% in 2017. The average annual withdrawal was £6,694. In total, pension freedoms withdrawals now account for nearly...

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  • Income today or income tomorrow – drawdown clients’ conundrum

    1 April 2020

    Drawdown clients or those approaching retirement should be careful not to panic or make rash decisions following the sharp Coronavirus-driven sell off across global markets, says Quilter’s head of retirement policy Jon Greer. Greer explains: “In the years since the crisis, investors have enjoyed bumper returns that have bolstered retirement pots. It means that...

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  • AKG updates on industry’s capability to weather current storm

    1 April 2020

    Insurers are well positioned to weather the recent turbulence in the financial markets, according to ratings and assessment firm AKG.  The group said the rules and structures imposed by Solvency II and equivalent regimes in offshore jurisdictions would offer greater protection, and said the medium to longer term outlook for the sector was “relatively...

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  • TDQ: TEST YOUR KNOWLEDGE – ANSWERS

    26 March 2020

    As part of our Training, Development and Qualifications (TDQ) series, Professional Paraplanner has teamed up with key training and exam support providers to help you to, amongst other things, revise for your qualifications. Below you will find also the cross-references for the 10 questions in this month’s TDQ: Test Your Knowledge, which we posed...

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  • TEST YOUR KNOWLEDGE QUESTIONS

    26 March 2020

    For Professional Paraplanner’s TDQ (Training, Development and Qualifications) series, we have teamed up with key support providers, such as Brand Financial Training, to provide our readers with the very best in training, development and exam support. This series aims to provide you with valuable advice and guidance materials to help you achieve your training...

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  • Six-month DB transfers hiatus call could have detrimental impact

    24 March 2020

    Former pensions minister Dr Ros Altmann has called for pension transfers to be halted for six months in an effort to stabilise pension schemes and avoid further scams amid the growing Coronavirus crisis. However, others say this could have a ‘severe impact’ on pensioners looking to use flexible pensions arrangements. Dr Altmann (pictured) said the current state...

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  • Pension Regulator issues guidance on pension payments in current situation

    24 March 2020

    As the impact of Coronavirus grows deeper, The Pensions Regulator has issued guidance for the industry, stating that employers must keep contributing to pensions, and DB benefits should continue to be paid. The government body said that it recognises the strain employers are currently under, and it will take a “proportionate and risk-based approach”...

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