October 2018
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Latest - PENSIONS

  • Life expectancy increases slowing ‘dramatically’

    16 August 2018

    Increases in life expectancy have slowed dramatically in recent years, in what pensions provider AJ Bell said could have huge ramifications for society if it continues.  Life expectancy for males at birth improved 4.2 weeks a year from 2011 to 2016, compared to 17.3 weeks a year in the preceding six-year period. Meanwhile, female...

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  • DB transfer ‘bad decisions’ costing people 7 years’ retirement income

    15 August 2018

    Pension scheme members with an average transfer value of £230,000 could be losing out on significant amounts of money, according to a new report by XPS Pensions Group. The report Member Outcomes under Freedom and Choice found that those transferring from their employer’s scheme under the pension freedoms risk making poor decisions on where to...

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  • Gender pay gap reporting adherence serves to show size of pay discrepancy

    14 August 2018

    For the first time in history, all UK employers identified as falling under the government’s gender pay gap reporting requirements have published their data.  Under new regulations that came into force in April 2017, firms with more than 250 staff must state the average pay difference between men and women. However, the findings showed...

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  • DB transfer values go nowhere in July   

    13 August 2018

    Pension transfer values as measured by the XPS Pensions Group Transfer Value Index remained stable during July 2018, with the index finishing the month where it started. The index stood at £233,000 both at the end of June and the end of July.  The difference between maximum and minimum readings of the XPS Pensions Group...

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  • New Transfer Tracking service to ‘do away’ with chasing progress by phone

    13 August 2018

    Origo has launched a Transfer Tracking service to monitor the progress of pension, GIA and ISA transfers, when being moved between providers and platforms. This, the Fintech company says, will enable advisers, paraplanners and administrators to see the exact progress of clients’ transfers online, “doing away” with the need for chase-up phone calls. The...

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  • Cashflow planning software from sees jump in usage

    12 August 2018

    Cashflow planning software CashCalc has seen its funds under calculation jump by 54% during the first six months of 2018, taking the total figure to beyond £50bn.  Since the start of the year the number of clients added by advisers into CashCalc increased by 26%, while the number of cashflow plans that have been...

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  • Q2 2018 saw highest level of pension withdrawals

    8 August 2018

    The second quarter of 2018 has seen the number of pension withdrawals rise to its highest level since the pension freedoms were introduced in April 2015. Over the course of three months, 574,000 payments were made to 264,000 individuals, taking total withdrawals for the quarter to a record £2.2 billion.  Since the introduction of...

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  • Pension Dashboard petition passes 126,000 signatures

    8 August 2018

    The petition launched by 38 Degrees in response to media reports that the Pensions Dashboard might not go ahead has passed 126,000 signatures – and continues to grow. This shows the depth of feeling and the support that the initiative has in the country, said Anthony Rafferty, managing director of Origo (pictured). “The benefits...

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