Displaying items by tag: Andrew Roberts

The release of further clarification from the FCA on Sipp capital adequacy rules brings with it my return to the blogosphere. My initial reaction was not one of relief that some issues had been resolved.

I write this aware that this is truly a 'First World Problem', so to speak, but political risk is a huge concern for those currently involved in pension planning.

Having attended two excellent events in a week - a workshop by Enhance Compliance Solutions and an Infoline conference on Sipps - I thought I would reflect on the latest thoughts on capital adequacy calculations.

There's five months to go until the new pension freedoms are upon us and, with them, the change in death benefit rules.

Like many, I was expecting a short announcement during the Autumn Statement followed thereafter by the publication of pages of detail explaining the new pension death tax rules. I certainly wasn't expecting to read about it on my BBC News app on the Sunday night before the Conservative Party conference.

In November last year, the FCA asked Sipp operators to complete a (long) questionnaire to help them with their third thematic review. Among the 40 or so data items requested was the amount of Assets Under Administration (AUA).

The government has advanced its pension thinking this month with the enactment of The Finance Act 2014, guidance on allowing new retirees access to next year's pension freedoms and its response to the consultation on those freedoms.