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Latest - RETIREMENT PLANNING

  • New technology ‘crucial’ to SIPP/SSAS sector

    1 October 2020

    Dentons Pensions says new technology will play a crucial role in driving the SIPP and SSAS sector forward as the Covid-19 pandemic continues to impact the way people interact with their finances. The pensions specialist said consumers want to feel “informed and in control” of their savings and investments, creating an opportunity for SIPP...

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  • DB transfers drop off as regulation and insurance costs bite

    1 October 2020

    As the FCA’s contingent charging ban come into force, data from the regulator shows that the number of defined benefit transfers has already fallen. by almost a third in the past year. DB transfers made in 2019/20 fell 28% compared to the previous year, , with a total of 40,600 transfers made during the period, amid the...

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  • Retirement journeys set to change ‘significantly’

    30 September 2020

    Advisers will need to be prepared to service clients on very different retirement journeys to their current client base, with the landscape set to change significantly over the next 15 years, according to Canada Life.   By 2035, there is forecast to be 20.9 million people over the age of 60, but their retirement experiences...

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  • Vulnerable client best practice high on agenda

    29 September 2020

    The overwhelming majority of advisers want to learn how to implement best practice when it comes to dealing with vulnerable clients, new research has shown. According to a survey by retirement specialist Just Group, 91% of advisers were interested in learning about practical ways to improve their understanding and processes, with 98% of advisers...

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  • Retirement income and inheritance ‘balancing act’

    27 September 2020

    Advisers face a balancing act managing clients’ desire for retirement income with their inheritance aspirations, new research from Aegon has shown. Over half (55%) of advisers say creating a sustainable lifetime income is the main objective for the majority of their clients, while a fifth (19%) say passing on savings to loved ones is...

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  • Cost of pausing a pension

    17 September 2020

    Canada Life is warning against pausing pensions contributions as a result of the Covid-19 crisis, as its research reveals that one in 10 workers has done so, with a further 13% considering it. Of those who paused contributions, nearly two fifths (37%) did so to use the money for essential spending, while a further 30% cited...

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    UK workers more likely to transition into retirement

    9 September 2020

    UK workers have a greater desire to transition into retirement than their European counterparts, but the effects of the Covid-19 pandemic could pose a hurdle, warns Aegon. According to the retirement specialist’s global survey, less than a third (30%) of UK workers want to immediately stop working upon retirement age, compared to 57% of workers...

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  • Call for FCA clarification on DB transfers into workplace pensions

    7 September 2020

    Aegon has called on the Financial Conduct Authority to provide more guidance on when a workplace pension might not be the best for a defined benefit transfer, ahead of new rules coming into place next month. The retirement specialist said that while it welcomed the proposed guidance, it believes the watchdog should use its consultation to...

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