Pensions

Insight / Commission backs portable pan-European pension product

The European Commission is backing a new class of pan-European personal pension product (PEPP) in a bid to make it easier for workers who have had jobs in different member states to save for retirement

Insight / People in their 40s will have to work until 68

The pension age is set to hit 68 within 20 years as the government sets out a new timetable for retirement dates with those in their early forties likely to be hard hit

Insight / Accountant fined £75k over pensions advice failures

Belfast accountant David Watters has been fined £75,000 by the Financial Conduct Authority (FCA) for failing to exercise due skill, care and diligence in his role as compliance oversight officer, firstly at FGS McClure Watters (FGS) and then Lanyon Astor Buller Ltd (LAB)

Insight / Auto enrolment pensions taken up by 8.1m workers

More than eight million employees have signed up for a workplace pension since the launch of automatic enrolment, new figures published by The Pensions Regulator show, while around 500,000 businesses have a final deadline of 2018 to complete their legal duties depending on when the company was set up 

Insight / Accessing pension pots early ‘new norm’

Accessing pension pots early has become ‘the new norm’ according to the interim findings of a review by the Financial Conduct Authority (FCA) into how the retirement income market is changing since the new pension freedoms were announced in April 2015

Tax / Pension planning: lifetime allowance and final salary pensions - part 3

In part three of our series on pensions and the lifetime allowance, Kay Ingram, director of public policy at LEBC, finds the complex nature of the annual allowance recovery charge makes it a stealth tax for some final salary scheme members

Insight / Pensions Regulator warns employers on auto enrolment exemption scam

Employers have been warned not to fall for a scam involving the sale of fake certificates which suggest the holders do not have any workplace pension duties, with The Pensions Regulator (TPR) currently investigating a company

Insight / Single financial and pension advice body given go-ahead

The government has set in motion legislation to create a new single financial guidance body bringing together the provision of advice for the public on debt, money and pensions, after a consultation showed strong support for the proposal to integrate the work of the existing three separate bodies

Insight / FTSE 350 pension payouts jump 17%

There has been a 17% hike in the amount of money flowing out of FTSE 350 companies’ defined benefit (DB) pension schemes in the past year, largely down to an increase in transfers to defined contribution (DC) schemes following the introduction of new rules, according to analysis from Willis Towers Watson

Insight / FCA to tighten up rules on pension transfers advice

The Financial Conduct Authority (FCA) is consulting on proposals to tighten up the rules on provision of advice relating to pension transfers where consumers have safeguarded benefits, primarily for transfers from defined benefit to defined contribution pension schemes

Tax / Pension planning: lifetime allowance and taxation of benefits – part 2

In part two of our series on pensions, Kay Ingram, director of public policy at LEBC examines the lifetime allowance and the taxation of pension benefits at the point of and during retirement

Accounting / Dividend payments put pension affordability at risk, warns Pensions Regulator

The majority of defined benefit pension schemes remain affordable but many need to do more to tackle gowing deficits and reduce risk to pensioners, particularly when it comes to their approach to dividend payments, The Pensions Regulator (TPR) has warned

Tax / Dividend tax changes: how they affect trusts and beneficiaries

Peter Rayney FCA CTA TEP, examines the impact of dividend tax changes to trusts and their beneficiaries from bare trusts to interest in posession trusts, starting by highlighting some very important anti-avoidance rules, which effectively take precedence over all the other provisions, with worked examples of how to use trusts effectively 

Insight / Pension savings gap to reach £25 trillion by 2050

The world’s six largest pension savings systems are expected to reach a $224 trillion (£174 trillion) gap by 2050 due to longer lifespans and reduced levels of savings, according to the World Economic Forum

Tax / Kroijer: don't over-invest in property to build pension pot

Looking for low risk, high returns alternatives to tradtional pensions savings is one of the big worries these days but is property such a safe bet anymore? Investment expert Lars Kroijer considers the options for investors, warning that over-reliance on property assets is not always the best policy or a sure fire profit income
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