Latest Columns
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Tilley: Rebooting the FOS makes sense
I’ve written before about the lack of coherence in the UK’s pension complaints landscape and it remains a source of real frustration for those of us working in the sector.
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Lisa Webster: Pension age uncertainty lingers on
We’ve known for many years that normal minimum pension age, NMPA it's known, is going up.
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Tilley: Are we asking too much of pension savers?
Working in UK pensions, I’ve always accepted that the system evolves. Fiscal pressures change, demographics shift, and governments recalibrate policy objectives. But even allowing for that, the pace and volume of legislative change in the pensions space over the last few years feels unprecedented, and in my view increasingly problematic.
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Lisa Webster: Beware IHT and pensions double taxation
One of the most disliked aspects of bringing pensions into the estate for inheritance tax (IHT) purposes from 6 April 2027 is the double taxation that will occur when the member dies on or after their 75th birthday.
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Lisa Webster: Should tax-free cash always be taken?
Since the Lifetime Allowance was abolished and replaced with the Lump Sum Allowance (LSA) and lump sum and death benefit allowance (LSDBA), we have seen an increase in SIPP members who want to take drawdown only – foregoing the right to take the associated pension commencement lump sum (PCLS).
Popular News
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Government to increase SSAS scam protections
The Government has issued draft regulations to address concerns about scam risks for members of small self-administered schemes (SSAS).
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Transact adds new trust to help with IHT pension tax
Transact has unveiled the new Flexible Reversionary Trust (FRT) which it says will help advisers prepare for the April 2027 IHT changes when unused pension funds will be subject to IHT.
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James Jones-Tinsley: The pension challenges ahead
On 19 May, the Pensions Commission published its Interim Report on the state of retirement saving in the UK.
Abrdn is to launch a Junior SIPP product as part of its new family wealth planning offering for financial advisers.
Ludlow Wealth Management, a subsidiary of wealth manager and SIPP provider Mattioli Woods, has acquired £80m AUM Glasgow Financial Planner Ferguson Financial Management in a deal worth up to £1.2m.
Nine in ten SIPP millionaires are men, as the gender pension gap continues to bite, according to new research.
The Financial Services Compensation Scheme (FSCS) has opened the doors to compensation on two Financial Planning firms it has declared in default.
The compensation body declared Juno Moneta Capital Management Ltd and Westbury Private Clients LLP in default yesterday.
The FSCS will now step in to assess and pay accepted claims for compensation and try to recover losses if possible.
Westbury Private Clients was authorised by the FCA as a wealth management firm. It operated as a discretionary fund manager for the Westbury SIPP.
The firm went into liquidation in March 2018.
The FSCS said it has received claims from customers highlighting concerns that Westbury Private Clients did not carry out enough due diligence in relation to transfers/investments into the Westbury SIPP. The claims questioned the suitability of Westbury SIPP as an investment vehicle, due to the high-risk nature of the investments which led to investors losing money.
The FSCS said it has received 16 claims against the firm so far, 10 of which are in relation to SIPPs.
The compensation body added that it is currently investigating whether the firm has breached FCA rules, and whether it can pay compensation to customers.
The body has received two pension transfer claims so far for Cheltenham-based Juno Moneta Capital Management Limited. It was formerly known as Corcillum Limited and traded as Morgan Peterson and BL Financial.
The Financial Conduct Authority has banned five directors of financial advice firms from working in financial services and fined them over £1m.
The Investment Association (IA) has launched a new technology tool to help investors find lost assets.