With September’s CPI figures now being released we know what next year’s Lifetime Allowance (LTA) will be - £1,054,800. Whilst hardly a dizzying increase we are at least crawling in the right direction after years of being pegged back. I get a few surprised looks when I remind people that the original version of Finance Act 2004 included a clause that the standard lifetime allowance could only increase.
The launch, by the FCA and The Pensions Regulator yesterday, of a joint regulatory strategy aimed at taking action to deliver better outcomes for pension consumers has been backed by the profession.
Four trustees of a master trust, who failed to promptly invest members’ savings for three years, affecting 9,081 members and contributions of £1.4 million, have been fined by The Pensions Regulator (TPR).
Chancellor of the Exchequer Philip Hammond promised to ‘unlock’ the “untapped firepower of defined contribution pension schemes.”
Baroness Ros Altmann is due to give a prestigious lecture on pensions at London’s University of Westminster.
There has been a flurry of corporate results in the last few months from SIPP providers that have shown an increase in revenue due to the increase in SIPPs being set up due to the large number of DB transfers to SIPPs.
The Financial Conduct Authority has today published final rules and guidance from its consultation on improving the quality of pension transfer advice.
Work and Pensions Secretary Esther McVey’s backing for the pensions dashboard in her speech at the Conservative Party Conference this week brought relief to the profession.
The CISI Annual Financial Planning Conference heard yesterday from an expert panel that many lessons can be learned from the BSPS debacle and more must be done to stop a repeat.
I was going to open by commenting that it’s the time of year when the budget rumour mill starts kicking into action, but of course this will only be the second Autumn Budget, so we’re more accustom to these things happening at the start of the year.
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