In his first column since becoming a blogger for Sipps Professional, James Jones-Tinsley from Barnett Waddingham a Chartered Financial Planner and Self-Invested Technical Specialist, discusses problems with the time delay between pension changes being announced and being cemented in law.
Overhauling the system of pension taxation “risks destroying the foundation of a system that works,” warns Barnett Waddingham
A senior consultant at a Sipps firm has blasted the Government’s failure to explain the State Pension changes clearly enough.
The FCA must fire a warning to firms that barriers stopping savers accessing their pensions are unacceptable, the Government has commanded.
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.
The FCA has proposed changes to the new capital adequacy rules - including a relaxation of the frequency of calculating AUA - which it says will reduce firms’ compliance costs.
A new SSAS and Sipp technical specialist has been hired by Barnett Waddingham.
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.
Sipp provider Barnett Waddingham has confirmed that it will offer the full range of pension income options ahead of the reforms taking effect in April.
A senior figure at a Sipp provider fears that a failure to clarify the new capital adequacy rules could lead to worried firms going too far in an attempt to meet requirements and therefore end up increasing costs for clients.
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