Latest - RETIREMENT PLANNING

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  Govt looks for £800m through new Dormant Assets Scheme

  11 January 2021

  The UK Government has announced an expansion of its Dormant Assets Scheme, which will unlock more than £800 million to support the UK’s recovery from Covid-19. Dormant assets across the insurance and pensions, investment, wealth management and securities sectors are set to be unlocked, following a four-year review and public consultation. While the scheme’s...

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  Confusion ‘rife’ around retirement choices

  5 January 2021

  Uncertainty around retirement choices remains rife among those nearing retirement, new research from Just Group has shown. Three in five (59%) 45-54 year olds said they were confused by their choices, with this figure rising to as much as 65% among women, according to the retirement specialist. Furthermore, only just over one in 10...

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  Greater education on SIPPs and pension consolidation needed

  5 January 2021

  New research has found that a lack of understanding continues to surround self-invested personal pensions, requiring greater education and information around pension consolidation.  According to investment platform EQi, nearly one in six (14%) Britons has never heard of SIPPs. Furthermore, 12% were aware of SIPPs but did not understand the rules around moving pensions,...

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  18-34 year olds expect to work into their 70s

  4 January 2021

  Younger generations expect to work beyond the age of 70, driven by a lack of retirement savings, according to Canada Life. Over half (56%) of 18-34 year olds expect to work until they are at least 70, with a third (33%) concerned their pension savings will not be enough to fund their retirement and...

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  Pension transfers information – a clear candidate for efficiency gains

  21 December 2020

  The process of obtaining client’s information from pension schemes is clearly in need of efficiency gains to be made through greater standardisation. ATEB’s Steve Bailey looks at the Regulators’ attempts to deliver clarity. Firms that provide advice on defined benefit pension transfers will be aware that it is not always straightforward to obtain details...

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  Pensions Dashboards to include estimated retirement income

  15 December 2020

  The Pensions Dashboards Programme has published a data standards guide, providing the basic definitions that pension providers and pensions administrators need to follow in order to deliver pensions information to the Pensions Dashboard when launched, including estimated retirement income. Following the Programme’s Progress Report published in October 2020, the guide, covers the data for finding...

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  UK savers risk retirement income

  10 December 2020

  UK savers are taking greater risks with their retirement income than their European counterparts by opting for drawdown with limited financial understanding, findings from Aegon have revealed According to Aegon’s global retirement survey only just over a quarter (28%) of workers in the UK plan to convert all their savings into an annuity, compared...

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  Benefits of cash flow planning are not just financial

  7 December 2020

  The benefits of using cashflow planning with clients is not just financial, says Louis Williams, head of Psychology & Behavioural Insights, Dynamic Planner. Helping your clients to manage their finances and reach their ultimate goals should involve active planning around their cash flow. Holding engaging discussions on what your clients must spend their money on, would like...

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