Royal London attacks UK Pension Isa proposal
Royal London chief executive Phil Loney has slammed the idea of a Pension ISA, just five weeks before Chancellor George Osborne gives his next budget speech.
Pension
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Rate of UK flexible pension drawdowns slows
The number of people taking advantage of the new pension freedoms dropped by 13.3% between the third and fourth quarters of 2015, with the total value of funds released down by nearly a third.
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Whitechurch added to advisory panel for L&C’s low-cost Qrop
London & Colonial has added Whitechurch Securities to its panel of approved discretionary fund managers for its low-cost Qrop product, the Multi-Platform International Open Pension.
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UK gov’t favours upfront tax relief on pension plans
UK chancellor George Osborne is likely to opt for a flat rate of tax relief on pension savings rather than a more radical move to a so called “pension Isa” when he announces the outcome of the government’s current review.
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L&G consolidation continues with Suffolk Life sale
Legal & General has further rationalised its offering by announcing the sale of Sipp provider Suffolk Life to Curtis Banks Group. The move follows L&G’s recent decision to dispose of non-core businesses, which saw it withdraw from France, Ireland, and Egypt in 2015.
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FCA reports 13% drop in consumers accessing UK pension pots
The Financial Conduct Authority (FCA) has published its latest quarterly data on how consumers accessed their pensions in the period from the beginning of July to the end of September 2015. The sample of firms in the survey covers an estimated 95% of defined contribution (DC) contract-based pension schemes. Please click on the pictures below…
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What UK pension investors should look out for in 2016
After seismic changes to the pensions landscape, 2016 looks like being another year of upheaval. Here are the main things Hargreaves Lansdown think investors should look out for.
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Retirement trends: The Twelve Days of Pensions
Embracing the festive season, Fidelity International presents to you “The Twelve Days of Pensions 2015”, outlining key retirement trends gleaned from customers calling its contact centre between July and November 2015.
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Recently retired wealthier than the under-45s
Those aged between 65 and 74 own a greater proportion of the UK’s wealth than those under the age of 45, according to think tank the Resolution Foundation.
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UK Gov’t to enforce advice requirement on annuity sales
The UK government has announced plans to make it mandatory for investors holding a sizeable annuity to seek financial advice before selling out of their scheme.
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OMW expands team supporting financial advisers
Old Mutual Wealth has moved to strengthen its support for financial advisers in the UK with the appointment of Martin Clubbs as pensions specialist.
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OECD warns of growing risk of pensioner poverty
Future generations are likely to find their pension entitlements much less generous than today’s and many may face a serious risk of pensioner poverty, according to a new OECD report.