Overhauling the UK investment platforms market
AJ Bell boss calls for more disclosure, guidance, transparency and the removal of a ban
AJ Bell
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UK pension transfers drop 23%
Almost £80bn transferred since the launch of the pension freedoms in April 2015
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£20bn withdrawn since pension freedoms launched
The popularity of the UK’s pension freedoms is showing no signs of slowing, with almost £20bn ($26.2bn, €22.4bn) having now been flexibly accessed since the reforms launched in April 2015, according to the latest figures from HM Revenue & Customs.
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Risks lurk as DFMs shed bonds for alternatives
AJ Bell and Seneca are among investment managers shedding bonds as rate hikes loom, but others are concerned alternative assets present new sources of risk.
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Investment fraudsters steal £51m in three months
Scammers are showing an increased appetite for ripping off unsuspecting UK consumers after £51m was stolen in the first three months of 2018/19, figures from the City of London Police reveal.
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Where has £17.5bn of pension freedoms money gone?
About £3bn ($3.9bn, €3.4bn) that has been flexibly withdrawn from UK pensions is currently sitting in low yield bank accounts, with investors facing the “double jeopardy” of tax on withdrawals and low returns, according to research by AJ Bell.
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Pension transfers hit record £10.6bn in first quarter
The belief that UK pension transfers peaked in 2017 has been proven wrong as figures from the UK’s Office for National Statistics (ONS) show £10.6bn flowed out of defined benefit schemes in the first quarter of 2018.
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UK working pensioners to pay National Insurance?
UK pensioners who are still working could have to pay National Insurance (NI) contributions to help fund their care in later life, according to plans being considered by the government.
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Advisers look for certainty as pension transfer flux continues
As the Financial Conduct Authority (FCA) finalises its policy paper on defined benefit (DB) pension transfers, experts hope it will bring some certainty to an industry that has been in a constant state of flux since 2015.
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UK pension freedoms withdrawals hit £17bn
Almost £17.5bn (€20bn, $24.3bn) has been withdrawn from pensions since the freedoms were launched three years ago, according to the latest figures from HM Revenue & Customs.
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AJ Bell warns of pensions overtax pitfall
Ad-hoc pension withdrawals could be overtaxed in the new tax year by thousands of pounds, AJ Bell has warned.
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PEOPLE MOVES: AJ Bell, Charles Stanley, Intertrust
AJ Bell has brought in a legal ringer ahead of its initial public offering, Charles Stanley has bolstered its Edinburgh office with three ex-Tilney people and Intertrust has appointed a director to support clients who need to defer bonus payments.