Concept Group challenges Aegon pension fraud report
International pension provider, Concept Group, has hit back at a recent report from Aegon, which claimed that 80% of overseas pension transfer requests were fraudulent.
Retirement
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Gov’t considers scrapping ‘regressive’ HNWI pension relief
UK pensions minister Ros Altmann has confirmed that the Government is considering the abolishment of the remaining “regressive” pension tax relief for high earners after slashing the benefits in last month’s Budget.
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Overseas advisers offered access to support on DB transfers
QROPS provider Sovereign has teamed up with Alexander Beard to give overseas advisers access to the FCA-regulated advice now required for transfers out of defined benefit schemes.
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ABI: Pension freedoms see savers withdraw £1.8bn in two months
British pension savers have withdrawn more than £1.8bn from their pension pots in the first two months since the start of the freedoms, new figures revealed.
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Majority of QROPS transfer requests are a scam, warns Aegon
Aegon has warned that 80% of the requests it has received for transfers into qualifying recognised overseas pension schemes (QROPS) are designed to swindle savers out of their pension pots.
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Momentum Pensions secures majority stake in SIPP business
QROPS provider Momentum Pensions Group has raised its stake in UK Self Invested Personal Pension business, Momentum Pensions Ltd (MPL), to 80%.
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Providers ‘still struggle’ with pension freedom demands
Sectors of the UK pensions industry are “still struggling” to meet customer demands nearly three months after the new freedoms were introduced, FCA figures have revealed.
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HMRC scraps thousands of QROPS from overseas pensions list
HM Revenue & Customs has dropped thousands of QROPS from its recognised overseas pension schemes (ROPS) list, with Australian schemes faring the worst.
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HMRC confirms Australian super funds are no longer QROPS
HM Revenue & Customs has confirmed that Australian superannuation funds no longer meet the requirements to be considered a Qualifying Recognised Overseas Pension Scheme (QROPS), according to the Australian Superannuation Funds Association (ASFA).
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ABI urges UK Gov’t to hold fire on second-hand annuities
The Association of British Insurers (ABI) has urged the UK Government to hold fire on its 2016 roll-out of a second-hand annuity market so it can properly ensure consumer protection.
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HMRC waives penalty charges on KiwiSaver pension transfers
HM Revenue & Customs will waive penalty charges on UK pension fund transfers made between 6 April and 17 June into KiwiSaver schemes which have now lost QROPS status.
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Low-cost pension planning services launched to fill ‘advice gap’
Free and low-cost pension support services have taken off as more UK consumers look for alternatives to traditional financial advice and the governmental initiative, Pension Wise.