The Financial Services Compensation Scheme has declared financial adviser AXG Advice Ltd (FRN: 450813) as failed.

Financial advisers are turning away from pension wrappers and instead utilising pension gifting, annuities and onshore bonds as they prepare for the upcoming changes to inheritance tax, according to a new report.

Public trust in the pensions industry has dropped for the first time in five years, according to an annual survey.

Almost 300 people fully encashed a pension of more than £250,000 after tax-free cash between October 2023 and March 2024, paying a minimum £98,700 each in tax in the process, according to new analysis of FCA figures by Standard Life.

As Nikhil Rathi is reappointed as CEO of the Financial Conduct Authority (FCA) for another five years, the FCA has set out its strategic direction for 2025/26, with important implications for financial advisers.

HMRC’s January pension schemes newsletter announced changes to tax codes for pensions, and a few headlines followed proclaiming HMRC had finally fixed the over-taxation issue. It would be fantastic if that was the case, but despite nearly 10 years of getting it wrong, the problem isn’t resolved yet.

The lifetime allowance may have been consigned to the annals of history but the various forms of protection are still relevant in the new world, especially when it comes to the amount of pension commencement lump sum (PCLS) that can be taken.

The dark reality of pension scams is that we don’t really know how common they are. Fraud is a crime which tends to have low reporting events and with pension scams, it’s no different. The emotional toll can be as large as the financial, with some people being too embarrassed to report that they have been the victim of a scam.

While 2024 ended with a lot of doom and gloom in the pension world following the big announcement on inheritance tax (IHT), there was some good news that may have slipped under the radar of some advisers.