‘Large tax bills’ to hit savers without LTA protection
So far, over 300,000 people have applied to HMRC to safeguard against changes
Steve Webb
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Widows at risk of pension ‘financial shock’
Change to rules means they will inherit ‘little or nothing’ of their husbands’ state pension
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Have pension freedoms cost retirees £2bn?
Putting money in a cash account diminishes their chances of getting returns
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Have long-term low rates skewed investment projections?
‘It is vitally important they are realistic, understandable and consistent’
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£1.5bn needed to square up DB pension transfer gender gap
Advisers could play a key role in ensuring relevant clients are identified
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Pension freedom age increase will create ‘second class schemes’
As ‘tougher’ access rules make it ‘complex for savers’
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Advisers have no ‘risk appetite’ to carry out DB transfers
With nearly half considering leaving the space within a year
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Pensions dashboard to cost providers ‘millions’
Inconsistency of data and information compliance could be the next big headache for the sector
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DB pension transfers hit £34bn in 2018/2019
More than half of the £60bn transferred out since pension freedoms were introduced in 2015
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High earners in UK stung by NI contributions rise
Gains made from rise in higher income tax rate threshold halved by NIC increase
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Experts unite to set up Pensions Advice Taskforce
The UK’s Personal Finance Society has formed a taskforce to help provide strategic leadership and a voluntary code of professional standards for pension advice.
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HMRC pulls pension calculator after Royal London pressure
HM Revenue & Customs knew its pension tax calculator was giving incorrect data to users, but only pulled it once Royal London’s director of policy publicly slammed the tool.