Latest Blogs
Popular News
-
Hargreaves Lansdown hits landmark 2m clients
Investment platform and SIPP provider Hargreaves Lansdown has notched up its milestone 2 millionth client and has also seen record assets under management, according to its 2025 Annual Report.
-
Failed SIPP firm clients updated ahead of legal judgment
Clients of failed SIPP provider Hartley Pensions Limited - who have had funds ring-fenced - have been given an update from joint administrators UHY Hacker Young ahead of a legal judgment expected in late October.
-
JPMorgan to replace Nutmeg with new investment platform
JPMorgan is to launch a retail wealth management and investment business with its own DIY investment platform next month.
-
5 year gap between dream retirement age and expectation
While people dream about retiring at 62 they do not expect to be able to retire until they hit 67, according to new research.
-
Sales of escalating annuities surge
Sales of escalating Guaranteed Income for Life annuities that have some inflation protection, accounted for a fifth of all sales in 2024/25 and have increased by 17% year-on-year.
Most advisers want lifetime allowance axed
The company with offices in Manchester and overseas says its poll shows that scrapping the lifetime allowance tops advisers wishlists ahead of the Budget on Wednesday when it it is feared that Chancellor Philip Hammond may reduce tax relief on pensions to save money.
The nationwide study found 60% of advisers believe the £1 million limit should be abolished to reflect the impact of progressively larger funds being achieved and taking into account where there are transfers from defined benefit pension transfers, where deemed suitable.
Momentum says there is growing speculation the annual allowance could be cut from £40,000 to £30,000.
The research also found that around a third of advisers (32%) would support moves to means-test retirement benefits such as the Winter Fuel Allowance and 17% would back ending the triple lock on the State Pension. But just 3% of advisers would support the introduction of a standardised 30% tax relief on contributions.
Turning to Brexit, more than two out of three advisers believe Brexit will be positive for or have no impact on SIPP clients.
John McCreadie, head of sales at Momentum, said: “Abolishing the lifetime allowance would be popular with advisers but seems improbable.”
Research was conducted in September by PollRight with 102 advisers specialising in pensions planning.