QROPS clarity remains undelivered
Anticipated clarification around exactly how and whether QROPS will be included in the new Pension Flexibility rules to be introduced in April 2015 were missing from todays Autumn Statement.
Retirement
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OMGI distributor deals annuity replacement
Old Mutual Global Investors is at an “advanced stage” of setting up partnerships with selected life companies and platforms to develop pooled fund products for the retirement market, in readiness for next year’s radical UK pension regime reforms.
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Lessons to be learnt from LandGs pensions pilot
A pilot scheme for pensions guidance introduced by Legal & General saw only 2.5% of retirees take up the offer, but the firm has said there are lessons to be learnt from the pilot.
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Pension abusers could face 300 fine
A fine of £300 could be imposed on those who deliberately abuse the new pension tax rules.
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Have pension will travel
Expatriates looking for greater income freedom and estate-planning options for their UK pension savings will no longer need to transfer to a qualifying recognised overseas pension scheme (QROPS) and wait for 10 years. These freedoms will be available back home within six months without having to transfer overseas.
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Pension inheritors escape 55 death tax
Pension assets being passed on after death will not be subject to the 55% “death tax” from 6 April next year, following further pension amendments from the UK government.
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Reforms lead UK clients to prioritise
Next years pension reforms have led UK clients to prioritise the importance of their retirement planning, says Canada Life.
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QROPS to receive same flexibility as UK pensions
The Taxation of Pensions Bill, debated in Parliament last week, will ensure additional benefits available on UK registered pension schemes will be open to QROPS, contrary to some early interpretation.
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QROPS provider Momentum takes stake
Momentum Pensions has acquired a strategic stake in Calderwood Pensions, a UK-based SIPP and SSAS administrator and trustee business.
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Investment trust deserve bigger slice of pension
The Association of Investment Companies (AIC) has canvassed key executives from global asset managers on the implications of the UK pension reforms and why investors should consider investment trusts as a vehicle for retirement.
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Unbounded QROPS withdrawal much ado
A Government consultation on granting QROPS a 100% withdrawal allowance has been labelled “much ado about nothing” by a leading figure in the international pensions industry.
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Kreston develops pensions arm with appointment
Kreston (IOM) has appointed a new pensions manager and enlisted the services of The QROPS Bureau as it moves towards establishing itself as an international pension provider.