Latest Columns
-
Lisa Webster: Take the pension first? Think again
With the impending changes to tax treatment of pensions on death, there has been talk around the order of income in retirement being turned on its head.
-
Tilley: Transfer reform welcome but SSAS governance is key
At first glance, DWP’s June 2026 consultation on proposed changes to the 2021 transfer regulations does something the industry has long asked for; it acknowledges that the current regime, while well intended, has created too much friction for some perfectly legitimate pension transfers.
-
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.
-
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).
-
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.
Popular News
-
EQRS appoints Accenture's Pritchett as CEO
Pension administration services company EQ Retirement Solutions has appointed Will Pritchett as chief executive officer to replace Duncan Watson, who will join the EQRS Board.
-
Defaqto reveals most recommended pensions and SIPPs
Royal London, Aviva and Quilter were the most recommended personal pensions in the first half of 2026, based on recommendations flowing through Defaqto Engage.
-
SIPPs and Financial Planning adviser in default
Norwich Financial Planning firm Signpost Financial Planning Ltd (FRN: 575237) - which provided investment and SIPPs advice - has been declared in default by the Financial Services Compensation Scheme.
-
SIPPs to play major role in private markets expansion
UK private market fund managers believe SIPPs will play a major role in expanding sophisticated and high-net-worth investor participation in private markets over the next five years, according to new research.
The FSCS is working through nearly 1,000 potential claims against SIPP operator Guinness Mahon which collapsed in February.
A convicted criminal accountant who defrauded a pension scheme of £292,000 has been ordered to repay the money.
The DWP is set to "nudge" more DC pension savers to get guidance from Pension Wise - the government consumer help service - when they near taking pension benefits.
Wealth management and financial advice trade body PIMFA has called on the Government to tighten the rules on the promotion of unregulated financial promotions.
PIMFA called for the approval of unauthorised financial promotions to become a regulated activity in its response to the Treasury’s consultation on the approval of financial promotions.
The trade body has previously raised concerns about the issue and its impact on the industry and consumers alike.
It said that by making the approval of financial promotions a regulated activity, the Government would be empowering the regulator and enabling it to take enforcement action on firms that approved unsuitable investments without the necessary expertise or due diligence.
In its response PIMFA also said that it would encourage firms to consider their own practices, potentially addressing the trade body’s concerns about the standard of regulatory supervision as well as the capacity of the regulator.
It said the issue is particularly salient in the current era of ultra-low interest rates and financial anxiety many are suffering due to the pandemic, as a proportion of consumers will be attracted by investments that purport to offer returns far in excess of the rest of the market.
Consumers are told such investments are low risk, while offering high returns. The products are also not always marketed to sophisticated or high-net-worth investors and are often marketed to those on lower incomes or inexperienced savers.
Simon Harrington, senior policy adviser at PIMFA, said: “Given the potential for harm for consumers, and the cost that then falls onto firms in funding the FSCS, we believe that it is right that a gateway is introduced for the approval of financial promotions.
“However, as a result of the experience of many of PIMFA’s member firms of being regulated, we retain very little confidence that the level of regulatory oversight required in supervising the authorisation of financial promotions will be sufficient to prevent a reproduction of the current regime which, as the Treasury quite rightly notes is not sufficient and conducive to consumer harm.’
“Making the approval of financial promotions a regulated activity would mean the FCA could take enforcement action against those firms that approve unsuitable investments without having the necessary expertise to do so.
"This will improve the market; reduce consumer harm and ultimately reduce calls on the Compensation Scheme where rising levies over the last five years have become unsustainable for PIMFA members. This is an easy win for all parties involved and we are urging them to grasp this opportunity.”
The FCA has today publicly censured Aviva plc for making a stock market announcement that had the potential to mislead retail investors.
Fidelity has acquired Legal & General Investment Management’s UK Personal Investing business which manages £5.8bn in assets for 300,000 clients.