Popular News
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Industry urged to probe pensioner spending habits
Pension providers have been urged to find out more about post-retirement spending as new research suggests homeowners’ and renters’ drawdown habits are very different.
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Single pensioners need £225K more for ‘moderate’ retirement
Single pensioners need £225,000 more in their pension pot than couples to achieve a ‘moderate’ standard of living in retirement.
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DC savers warned of 20% hit from Trump’s tariffs
Donald Trump’s tariffs could hit UK pensions, with DC savers warned they may experience a 20% cut in their retirement income.
Latest Blog
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James Jones-Tinsley: Aiming for an advice-guidance sweetspot
As Nikhil Rathi is reappointed as CEO of the Financial Conduct Authority (FCA) for another five years, the FCA has set out its strategic direction for 2025/26, with important implications for financial advisers.
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Martin Tilley: FCA must grapple growth v regulation question
In late December, Prime Minister Sir Keir Starmer tasked 10 regulators with removing ‘barriers to growth’ in order to attach the jump leads to the UK economy. On 16 January, the FCA wrote a letter to the Government to outline their plans to support the growth agenda.
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Lisa Webster: Over-taxation of pensions remains an issue
HMRC’s January pension schemes newsletter announced changes to tax codes for pensions, and a few headlines followed proclaiming HMRC had finally fixed the over-taxation issue. It would be fantastic if that was the case, but despite nearly 10 years of getting it wrong, the problem isn’t resolved yet.
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Lisa Webster: Divorce impact on lump sums raises question
The lifetime allowance may have been consigned to the annals of history but the various forms of protection are still relevant in the new world, especially when it comes to the amount of pension commencement lump sum (PCLS) that can be taken.
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Martin Tilley: How education can tackle pension scams
The dark reality of pension scams is that we don’t really know how common they are. Fraud is a crime which tends to have low reporting events and with pension scams, it’s no different. The emotional toll can be as large as the financial, with some people being too embarrassed to report that they have been the victim of a scam.
The FCA has extended the deadline for firms to complete the first assessment of the “fitness and propriety” of their Certified Persons under the new Senior Managers and Certification Regime (SMCR) from 9 December until 31 March.
The High Court ruled in favour of the FCA in a civil action against two firms and their directors who induced clients to transfer their pensions in SIPPs and alternative investments without FCA authorisation.
Almost £10bn was transferred out of defined benefit pensions in the final quarter of 2019, according to official data.
Wealth manager and SIPP provider Charles Stanley has appointed former Brown Shipley chief executive Ian Sackfield as managing director, investment management services (branches) to lead the firm’s 20 regional offices.
Mr Sackfield, who was rival Brown Shipley’s CEO for nine years, will have responsibility for driving business development and productivity, as well as branch oversight.
He will join the firm’s executive committee and will report to head of investment management services, Peter Kelk.
The role is newly created and is based in Manchester.
Mr Sackfield has over 20 years’ board-level experience in financial services, including in a client-facing role as client director for over 18 months.
Mr Kelk said: “Our recent financial results show the division is performing well, and this appointment reflects our continued commitment to our branch network outside of London.
“Ian will provide the overarching, dedicated focus needed to guide it through a fast-changing commercial landscape. In his role, both as an ExCo member and head of the branches, he brings the depth of leadership, management and client facing experienced required. I am delighted that he has chosen Charles Stanley for the next stage of his career and to welcome him to the team.”
Mr Sackfield said: “Charles Stanley has a long track record and a reputation for innovation and delivering high levels of personalised, customer service. It has a strategy that is clearly delivering and is at an exciting stage of its transformation programme. I am looking forward to being part of its clear growth trajectory and playing a part by contributing in a significant way.”
Pension group XPS has reported flat profits for the 12 months ending 31 March at £11.4m but remains positive about the year ahead.
Britain has dropped down the rankings of the best European countries for retirees in 2020.