UK Qrops scheme closures rock the IFA industry in 2015
The decision by HM Revenue & Customs (HMRC) to drop thousands of Qrops from its list of recognised overseas pension schemes was one of the biggest stories of 2015.
Retirement
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Top five challenges to affect UK advisers in 2016
Clapton Consultants, a chartered accountancy practice supporting small IFAs, gives its view of the top five challenges facing the sector in 2016.
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Tips to stay on top of financial planning next year
This year has brought about a significant number of changes that impacted the personal finance landscape. There have already been a number of announcements which will affect people’s financial plans, says Andy Cumming, head of advice at Close Brothers Asset Management, who outlines four key things to watch out for in 2016.
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What UK pension investors should look out for in 2016
After seismic changes to the pensions landscape, 2016 looks like being another year of upheaval. Here are the main things Hargreaves Lansdown think investors should look out for.
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FEIFA partners with QROPS provider Harbour Pensions
The Federation of European Independent Financial Advisers (FEIFA) has formed a partnership with Malta-based retirement scheme administrator Harbour Pensions.
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OECD warns of growing risk of pensioner poverty
Future generations are likely to find their pension entitlements much less generous than today’s and many may face a serious risk of pensioner poverty, according to a new OECD report.
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Savage life sector consolidation will create ‘premier league’
Massive consolidation will lead to a ‘premier league’ of between five and seven major providers as part of an uncertain future for traditional UK life business, a new report has predicted.
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Call for pension transfer warning to stem ‘growing problem’
Insistent clients seeking pension freedoms under the UK’s new rules are creating a conflict of interest for financial advisers in relation to transfers of defined benefit pension schemes, according to the UK’s Personal Finance Society.
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Old Mutual warns of UK pension transfer IHT trap
Savers suffering from ill health could see their pension pots subject to inheritance tax if they transfer to a scheme that gives them greater access to the UK’s pension flexibilities, Old Mutual Wealth has warned.
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Green light for largest defined benefit insurance buyout in UK
The retirement for 26,000 members of the Philips UK Pension Fund has been secured as the country’s largest full scheme insurance buyout has concluded.
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US and Aus reveal ‘detrimental outcomes’ of UK pension freedoms
An examination of the impact pension freedoms have had on other countries exposes the potential downsides and risks facing UK retirees and the British state, a think tank has warned.
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Billions withdrawn under UK pension freedoms, but common sense prevails
More than half of the funds being invested under the new pension freedoms have been invested in income drawdown products, with the remainder buying annuities, reports the Association of British Insurers (ABI).