Latest Blogs
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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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Lisa Webster: Maximising protected tax-free cash
While 2024 ended with a lot of doom and gloom in the pension world following the big announcement on inheritance tax (IHT), there was some good news that may have slipped under the radar of some advisers.
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James Jones-Tinsley: Guided Retirement Duty could be game changer
During May, the Pensions Policy Institute (PPI), sponsored by The Pensions Regulator (TPR), concluded that defined contribution (DC) pension savers – including those in SIPPs, as well as in Workplace Pensions - require more guidance when choosing suitable retirement products.
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Tilley: Is the age 75 trigger date now irrelevant?
Age 75 has been an important milestone in pension rules since A day in 2006. It was the latest age at which a compulsory annuity purchase was required (prior to Pensions Freedoms). It's arguably it’s long been an arbitrary line in the sand, noting that life expectancy has been on the increase for the last 20 years, but this trigger age has remained unchanged.
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Lisa Webster: Overcomplicated rules are a threat
It may be more than a year since the Lifetime Allowance was formally abolished but issues are still emerging from the mess made by rushed legislation.
Popular News
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FSCS says SIPPs complaints 'main driver' of workload
The Financial Services Compensation Scheme says that a surge in complaints about SIPPs over the past year was one of the "main drivers" of a growth in complaints, according to its annual report.
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Professional complaints fuel 50% jump in FOS cases
Complaints to the Financial Ombudsman soared by over 50% during the past year to top 305,000 - driven in large part by claims from professional representatives, including claims management companies.
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UK pension scheme surpluses climb £26bn in 12 months
The aggregate surplus of UK pension schemes against long-term funding targets remained extremely positive at £189bn at the end of June, up £26bn compared to the end of June 2024.
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SIPP savers over-confident about retirement
SIPP savers are facing a ‘retirement mirage’ as their confidence about achieving a comfortable retirement outpaces their understanding of how they will achieve it.
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Aggregate DB surplus rises to £231bn, says PPF
The aggregate surplus of DB pension schemes climbed to £230.5bn at the end of June, according to the latest Pension Protection Fund (PPF) 7800 Index.
Amber flags are being raised on potentially low-risk pension transfers due to a ‘weakness’ relating to overseas investments in the new rules, according to a new report.
Only 10% of Financial Planners are very confident they would retain assets under advice when wealth is transferred to clients’ family members, according to new research.
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.