Latest Columns
-
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.
-
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.
-
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.
-
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).
-
Lisa Webster: Good news from DWP for SIPPs but not SSAS
The DWP has just released its long-awaited consultation on the SIPP transfer regulations – and it’s largely encouraging news. As an employee of a reputable SIPP provider the changes are positive. SSAS providers may be less enthusiastic about some of the proposals.
Popular News
-
AI could bridge advice gap say pension professionals
A third (34%) of pension professionals believe artificial intelligence will boost member advice and guidance and help to close the advice gap, according to a new report.
-
Lisa Webster: Good news from DWP for SIPPs but not SSAS
The DWP has just released its long-awaited consultation on the SIPP transfer regulations – and it’s largely encouraging news. As an employee of a reputable SIPP provider the changes are positive. SSAS providers may be less enthusiastic about some of the proposals.
-
4 in 10 over-55s have no plans for pension lump sum
Nearly 40% of over 55s (38%) have no plan in place for the tax-free cash they can get from their pension.
The Queen has approved a recommendation by the Privy Council that the CISI can use the designation Chartered Fellow (Financial Planning) for all members that have gained its Certified Financial Planner accreditation.
Private equity firm EQT Fund Management has made a second approach towards an acquisition deal with Australian fintech Iress.
Nearly one in three retirees are retiring in debt in 2021 according to new research.
Almost half (46%) of over 55s have no idea how much money they need in order to retire comfortably, according to new research.
UK dividends jumped 51.2% to £25.7bn in the second quarter, beating expectations, according to a new report.
Investment platform AJ Bell has reported a 15% rise in advised customers year on year, and 4% over the third quarter, in its latest trading update.
Total platform customers grew 32% year on year, and 6% in the quarter, as direct to consumer customers rose 42% (8% in the quarter). The platform now has 353,299 customers, of which just over a third (122,757) are advised.
Total platform net inflows increased by 40% over the prior year to £2.1bn, with just over half (£1.1.bn) being advised (a 57% growth year on year in advised net inflows).
Platform assets under administration closed the quarter at £63.1bn, a 32% rise year on year and a 9% rise in the quarter.
Assets under management at the platforms investment management business, AJ Bell Investments, increased 186% year on year and 43% over the quarter to £2bn. Total net inflows in the quarter were £524 million, including a one-off inflow of £253m.
Andy Bell, CEO at AJ Bell, said: “In the advised market, third quarter platform inflows were up 57% compared to the prior year. The introduction of simplified pension options is proving particularly popular with advisers as it provides them with different price points and flexible investment options to cater for a diverse range of client needs.
“We also continue to see strong demand for our in-house investment solutions. There is growing awareness amongst financial advisers of the value and performance that our managed portfolio service is delivering to their clients and our multi-asset funds continue to prove popular with advisers and retail customers alike.
“As we head into the final quarter of our financial year, we remain focused on providing an excellent service to our customers and continuing to support our people as we navigate the current wave of the pandemic. Looking further ahead, the structural growth drivers for our sector remain strong and we are well placed to deliver further growth across our platform.”