Latest - RETIREMENT PLANNING

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  Intervention needed to help understanding of pension freedoms choices

  30 July 2018

  The Treasury Select Committee has warned over the current level of consumer engagement and understanding of the pension freedom choices available to them. Since the introduction of the pension freedoms three years ago, 1.5 million defined contribution pension pots have been accessed. Of these, 72% belonged to customers below the age of 65, and...

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  1 in 5 over-50s to change their retirement plans

  26 July 2018

  The pension freedoms has prompted one in 5 over-50s to change their retirement plans, spurred on by the flexibility to access their pension at the age of 55. In research published by Retirement Advantage, the firm described the behaviour as “demob fever”, with official stats showing most consumers (72%) who accessed their pot did so...

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  What constitutes taxable property in a SIPP?

  22 July 2018

  Martin Tilley, Director of Technical Services, Dentons Pension Management looks at the rules around taxable movable property, some unusual circumstances and assessing the risks involved. As a SIPP provider, we are often asked to comment on the acceptability of an asset. Despite the uncertainty surrounding SIPP due diligence, one point is not in dispute...

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  Growing acceptance of the need to share care costs in run up to Govt Green Paper

  22 July 2018

  The public has shown overwhelming support for a deal between the state and the individual to share the cost of social care but there remains a divide on how much individuals should be expected to pay, new research from Aegon has shown. The research found that 68% of people were in favour of sharing...

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  Change to people’s views on retirement age

  17 July 2018

  A quarter of people expect to still work at age 70, a new survey by Aegon has revealed.  In a survey of 700 consumers aged 18 to 64, 26.9% said they expect to be working either full or part time at age 70, suggesting a clear move away from the traditional practice of women...

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  Industry responds angrily to suggestions Pensions Dashboard might be axed

  17 July 2018

  The financial services industry has responded angrily to the suggestion made by Secretary of State for Work and Pensions Esther McVey published in The Times, that the Pensions Dashboard might be scrapped, saying it made “little sense” would ultimately “make people’s retirement planning harder” and would make the industry “legitimately question” whether involvement in...

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  Could FCA’s pension freedoms review reshape retirement?

  15 July 2018

  Tom Selby, senior analyst, AJ Bell looks at the FCA’s proposals and warns the industry must flag both the practicalities and any potential unintended consequences Former Chancellor George Osborne’s shock pension freedoms announcement in the March 2014 Budget caught everyone on the hop – the Financial Conduct Authority (FCA) included. Along with the pensions...

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  Flexibility not risk reduction now main priority for retirees

  15 July 2018

  Three years on from the introduction of the pension freedoms, flexibility has become the leading priority for retirees, new research by Aegon has revealed. According to Aegon, 54% of advisers said their clients’ number one priority in retirement is flexibility, with risk reduction coming in second at 33%. The pension provider said the emphasis...

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