October 2018


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  • Drawdown under spotlight in retirement income data

    13 September 2018

    Jessica List, pension technical manager, Curtis Banks Group looks at the latest FCA retirement income data The FCA’s latest retirement income data bulletin provides data from the second half of 2017/18; from 1 October 2017 to 31 March 2018. Broadly speaking, the data shows that consumer behaviour has not changed significantly compared to the same...

  • High earners warned to tackle tax plans before the Budget

    13 September 2018

    Britain’s highest earners should ensure their tax relief plans are in order ahead of a potential government raid on pension pots, deVere Group has warned. The warning follows reports that Chancellor Philip Hammond has identified some £38bn in pension tax relief as a possible target for the Treasury’s November Budget. Nigel Green, founder and...

  • Review could cause consumer confusion and difficulties for the SIPP sector

    11 September 2018

    The final report on the Retirement Outcomes Review (ROR) could cause consumer confusion and difficulties for the SIPP sector, warns Elaine Turtle, director, DP Pensions This summer the Financial Conduct Authority (FCA) published it’s final report on the Retirement Outcomes Review (MS16/1.3) in response to July 2017’s Interim Report MS16/1.2. Accompanying the final report...

  • Engagement and education key to good retirement outcomes

    10 September 2018

    Wealth management group Quilter has called for the government to focus on engagement and education in addition to transparency in its latest inquiry into pension costs and transparency. In response to the Treasury Committee’s inquiry, Quilter said the best way for people to achieve value for money is through face-to-face financial advice, with its own...

  • Millennials want ‘confusing’ pensions explained in the workplace

    9 September 2018

    Millennials would like to see their employer offer more support around pensions, with nearly a quarter admitting to finding pension rules confusing, according to new research from Prudential.  Prudential’s study found nearly seven out of 10 (69%) of under-35s are saving into a pension either through work or in a personal scheme, but over...

  • Rory Percival provides insight into FCA thinking on Defined Benefit Transfers suitability

    7 September 2018

    Defined benefit (DB) transfers remain topical and the Financial Conduct Authority (FCA) continue to find problems in this market. Rory Percival provides an update on the policy developments and the FCA’s thinking. The FCA introduced new rules and guidance in its Policy Statement in March 2018 and has also included further assessing suitability guidance...

  • Criterion and TeX join forces in support of TRIG transfers framework

    6 September 2018

    Criterion and TeX have announced a joint proposal to support the industry in the adoption of the Transfers and Re-registration Industry Group (TRIG) new transfers framework, published in June. The two bodies said they stand fully behind the recommendations of the TRIG framework, which include end-to-end standard timescales for as many re-registrations/transfers as possible....

  • What makes clients feel financially secure?

    5 September 2018

    Pensions advice specialist Portafina has found that having savings is the leading factor behind making clients feel financially secure.  In a survey exploring the financial achievements and life goals that help people’s financial confidence, an overwhelming 72% cited savings. The average amount of savings that those polled said they would need to feel stable...