June 2019


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  • Financial wellness requires mental space to tackle important decisions

    29 April 2019

    People are not devoting the time to making important decisions around their finances and need to create the time and mental space to do so, new research has shown. One in five (19%) consumers say they put off financial admin because it’s too time-consuming, while 17% find it too stressful, according to research by...

  • State pension reforms risk creating further social inequalities

    28 April 2019

    State pension reforms risk creating further social inequalities, according to a new report from the International Longevity Centre. Analysis by the thinktank found that those best positioned to take advantage of increases in the state pension age were more highly educated, skilled and better paid. In contrast, for disadvantaged workers with greater health and...

  • Pension providers publish transfer performance data

    26 April 2019

    A group of providers using the Origo Transfer Service have collectively published their transfer time performance data, in a move intended to increase transparency and help improve industry transfer times. The first set of data from the 27 providers covers the 12 month period to 31 March 2019 and covers 80% of all completed...

  • Women’s long-term financial plans most at risk

    25 April 2019

    Women risk being thrown into ‘financial meltdown’ in the event their relationship breaks down, because of a lack of individual pension rights and financial plans.  New research from Royal London has revealed that 45% of women living with a partner were not confident or did not know if their long term financial plans would...

  • Thousands have breached LTA protections, especially since auto-enrolment

    22 April 2019

    Thousands of pension savers have breached one of the various forms of lifetime allowance protections introduced since ‘A-Day’ in 2006, with a massive spike in numbers since auto-enrolment. A Freedom of Information request from pensions specialist AJ Bell found over 12,000 investors have notified HMRC of losing their protection, potentially landing themselves with a hefty tax...

  • New Selectapension tool to help expedite data collation for client reviews

    18 April 2019

    Selectapension is to launch a new “Rapid Reviewer” tool, designed to make client reviews of pensions and investments more efficient and cost effective. Annual client reviews, a mandatory requirement for MiFID II regulated products provides an opportunity for advisers to reassess previous recommendations against clients’ current circumstances and review the performance of investments. Selectapension...

  • New software from O&M tackles compliant DB transfer reporting

    16 April 2019

    O&M Systems has launched a new TVC tool to support advice firms in the defined benefit transfer market. The firm said it has identified three key reports as part of this launch: 1. A client facing report containing the mandatory TVC, which runs to just 8 pages. 2. An adviser/file report, containing all the...

  • The problem that is Guaranteed Minimum Pensions

    15 April 2019

    Equalisation of benefits for Guaranteed Minimum Pensions is causing problems for pension schemes in terms of benefits and transfer values and requires clarification from DWP, says Fiona Tait, technical director, Intelligent Pensions Guaranteed Minimum Pension (GMP) has been in the ‘too difficult’ box for so long that for many of those reading this article...