QROPS to receive full flexibility
HM Revenue & Customs last week issued draft legislation to allow QROPS schemes the same flexibility in drawing pension benefits as will apply to UK pensions from 6 April.
Budget
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Annuities if theyre no longer compulsory
Two things are on my mind. First, just how much I like the new One Direction single. Great work guys. Second, fairness for those approaching retirement.
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Annuities survery
Advisory firms are almost evenly split on whether or not new rules regarding pensions have created a need for new products, a FundsNetwork survey has revealed.
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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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Guidance guarantee levy unfair on advisers
A proposed levy to pay for the UKs guidance guarantee would be unfair on advisers and consumers, according to IFA trade body APFA.
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Annuity sales drop by a third following
Annuity sales have fallen by more than a third over the first and second quarter of 2014, confirming a lessening use of the product following the pension reforms announced in this years Budget.
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Millions planning not to retire in the UK
Five million people in the UK have said they do not plan to retire, in response to consumer research conducted by Baring Asset Management.
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Pension reforms drive new fund from Amundi
Amundi plans to become one of the first asset managers to launch an international fund in direct response to new thinking around the annuity needs of retirees, following the pension changes announced in the UK spring Budget this year.
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Advisers to capitalise on pension reforms
Advisory firms are geared towards expansion in the build up to next years pension reforms, with over two thirds seeing an increased demand for advice since the plans were announced in Marchs Budget.
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Pru plans critical new products in Budget aftermat
Prudential is to invest £50m a year into a host of “critical” new products as it attempts to consolidate a 42% drop in annuity sales resulting from the pension reforms in this year’s Budget.
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Unrealistic Government questioned
Industry experts have labelled the Government “unrealistic” and “utopian” following recent FCA proposals to charge financial advisers a 30% levy in order to fund the guidance guarantee service announced in this year’s Budget.
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Opportunities following the Budget
Now that the dust has settled following the UK Chancellors 2014 Budget Announcement, it's time to take a look at the opportunities available to International Advisers and their clients with UK pension schemes.