FCA slams exit charges on Lifetime Isas
The UK’s Financial Conduct Authority (FCA) has warned about the risks of imposing a 25% exit fee on the upcoming Lifetime Isas.
Pension
-
-
Offshore pension off limits in UK divorce ruling
Overseas pensions could be excluded from sharing orders during divorce proceedings after the England & Wales Family Court said that it has no power to make such an order.
-
UK government urged to scrap pensions triple-lock
The UK’s pension triple-lock will “worsen the economy”, is “heavily skewed” towards baby boomers, and should be scrapped, according to the Commons Work and Pensions Committee.
-
Sovereign Group cuts fees on Rops
International pensions provider Sovereign Group has removed ‘ad hoc’ transactional fees from all its new and existing recognised overseas pensions scheme (Rops) products.
-
Pound volatility sees UK pension holders seeking more advice
The volatility of the pound has seen a significant uptick in people seeking advice on moving British pensions abroad, which could see hundreds of millions of pounds driven overseas, says deVere Group chief executive Nigel Green.
-
Australian Rops get STM super boost
STM Group Australia’s managing director Stuart Denness is looking to re-energise and reinvigorate the country’s recognised overseas pension scheme (Rops) market following two years of uncertainty.
-
HMRC data shows £7.6bn withdrawn since UK pension reforms
Nearly £7.6bn ($9.2bn, €8.5bn) has been paid out of UK pensions since reforms came into effect in April last year, according to the latest figures published by HM Revenue & Customs (HMRC).
-
Call to end tax allowance taper as UK Autumn statement nears
After scrapping the secondary annuity market and potentially softening the non-dom tax changes, is the annual pension savings allowance taper the next thing that should go?
-
Expert urges pension rethink as UK sales slide
Sales of personal pensions fell by 6.8% in the second quarter of this year as a leading tax expert urges the UK government to do more to get the country’s retirement savings “back on track”.
-
UK asset managers will have to reveal costs to pension schemes
The UK’s Financial Conduct Authority (FCA) has unveiled new rules that will force asset managers to disclose the transactions costs they charge pension schemes when investing in their funds.
-
Australia scraps A$500k lifetime superannuation cap
The Australian government has scrapped plans to introduce a controversial A$500,000 (£286,598, $383,675, €341,174) lifetime cap curbing the amount people can save into their pensions.
-
UK may force insurers to pay for pensions dashboard
A UK Treasury official has said the government is looking at introducing a law that would force pension providers to pay towards creating the pensions dashboard.