Pension freedoms pioneering spirit is at risk
With what clients think is fair to pay firmly at odds with the risks IFAs now associate with advising on pension transfers, have the pensions freedoms lost their way?
Pension Freedoms
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What if a freedoms pensioner had bought a Lambo?
Grey-haired hell-raisers tearing round Britain in Lamborghinis is the abiding image of UK pensions freedoms reforms but what if a pensioner had invested in an Italian sports car in 2015?
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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About £3bn ($3.9bn, €3.4bn) that has been flexibly withdrawn from UK pensions is currently sitting in low yield bank accounts, with investors facing the “double jeopardy” of tax on withdrawals and low returns, according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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Old Mutual sees 25% growth in DB pension transfers by 2028
Old Mutual Wealth is predicting defined benefit pension transfers will accelerate, with an estimated 25 to 30% of those eligible switching out of their schemes in the next 10 years.
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Pension freedoms fraud a major concern for over-55s
One in three people over the age of 55 say the risk of being defrauded is a major concern following the introduction of the pension freedoms in April 2015, according to research from Prudential.
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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Almost £17.5bn (€20bn, $24.3bn) has been withdrawn from pensions since the freedoms were launched three years ago, according to the latest figures from HM Revenue & Customs.
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Two in three still confused by pension freedom rules
Despite being three years since HM Revenue & Customs introduced the pension freedoms, two out of three people over the age of 55 say they are still confused by the regulations.
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Three insights into unsettling pension freedoms data
The Financial Conduct Authority has released figures on pension freedoms that product providers have described as “concerning” and “do not make for comfortable reading”. International Adviser spoke to industry experts to get their thoughts on the data.
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Pension freedoms ‘concern’ Isle of Man providers
There was a “critical lack of transparency” by the Isle of Man’s treasury minister in the lead up to introducing pension freedoms for the island, the chair of the jurisdiction’s association of pension scheme providers told International Adviser.
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How new Isle of Man pension freedoms differ starkly from the UK
The Isle of Man budget on 20 February introduced the concept of pension freedoms to the island’s pensions legislation, setting out some stark differences to the already established UK rules.
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Isle of Man to introduce pension freedoms
Legislation that will introduce pension freedoms to the Isle of Man has been included in the island’s 2018 Budget, a move treasury minister Alfred Cannan said will allow people to “look after their own savings”.
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Pension freedom rumours rife on Isle of Man
Multiple sources have told International Adviser that pension freedoms will likely be included in this year’s Isle of Man Budget, to be released on 20 February.