November 2018


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  • Default decumulation option inconsistent with freedom and choice reforms, says DWP

    3 July 2018

    The pensions industry has welcomed the government’s decision to reject a proposal to introduce a default decumulation pathway at retirement. In April, The Work and Pensions Committee published a report in which it recommended that every pension provider offering drawdown be required by FCA rules to offer a default decumulation option. However, in its...

  • Voluntary code of conduct proposed for pensions advice

    2 July 2018

    The Personal Finance Society has formed a new Pensions Advice Taskforce, designed to provide a voluntary code of conduct for the pensions advice industry, in the wake of the British Steel Pension Scheme scenario. The PFS said its main focus was upon sharing good practice and providing a code of conduct that “gives clear...

  • July / August Issue OUT NOW

    28 June 2018

    In your bumper edition of Professional Paraplanner this month we have two specials for you: Click here to read The Professional Paraplanner Awards 2018 – We celebrate our second year of awards, recently held at the Grange St. Paul Hotel, London AND a Tax Special. In this 8-page section, we look at inheritance tax...

  • GDPR repercussions could see smaller firms exit industry, says deVere CEO

    25 June 2018

    General Data Protection Regulation (GDPR)  Nigel Green, founder and chief executive of financial advice firm deVere, says many small firms are unlikely to be fully compliant with the new rules and so could be hit with “hefty fines” for not complying. Describing GDPR as a ‘game changer’ for the financial services industry, Green says:...

  • SimplyBiz Group adds to pension transfer bureau firms

    24 June 2018

    The SimplyBiz Group has announced the addition of a fifth partner to its defined benefit pension transfer referral panel. Broadgate Financial Management joins Tuto, Grove Pension Solutions, Pensionhelp and Creative Wealth Management as part of the Group’s DB transfer bureau, which delivers options to advisers who are either unable to, or choose not to,...

  • Working together to save SSAS

    24 June 2018

    Zachary Gallagher, chairman, Association of Member-Directed Pension Schemes (AMPS) reports on its annual conference, one of three fixtures in the AMPS diary along with the Compliance & Technical Seminar and the Annual General Meeting.  The annual conference concentrates on broad topical subjects facing both the financial services industry as a whole, as well as...

  • Variance in how HMRC deals with pensions and ISA errors 

    18 June 2018

    Gareth James, head of technical resources at AJ Bell, looks at the different handling of errors made under pensions and ISA wrappers under HMRC rules. Errors occur when dealing with payments to and from financial products like pensions and ISAs. Many readers will have seen warnings in ISA literature cautioning investors who are transferring...

  • Pension Dashboard solution scale tested to serve 15 million users

    12 June 2018

    Origo has successfully scale tested its pension dashboard solution to handle anticipated usage by 15 million consumers when launched. The solution provides an underlying engine that enables consumer requests to be sent to pension providers and for pension details to be returned to the consumer-facing dashboard. It also includes advanced features such as Delegated Authority (access)...