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  • James Jones-Tinsley: Guided Retirement Duty could be game changer

    During May, the Pensions Policy Institute (PPI), sponsored by The Pensions Regulator (TPR), concluded that defined contribution (DC) pension savers – including those in SIPPs, as well as in Workplace Pensions - require more guidance when choosing suitable retirement products.

  • Lisa Webster: Overcomplicated rules are a threat

    It may be more than a year since the Lifetime Allowance was formally abolished but issues are still emerging from the mess made by rushed legislation.

  • Lisa Webster: To gift or not to gift?

    Since the announcement that pensions are to be included in estates for inheritance tax (IHT) purposes the question of whether those with large pension pots should be giving some funds away has become increasingly common.

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September saw a reverse of rising pension transfer values with average transfers measured by one provider dropping sharply over the month, falling by 4% from £240,000 in the first week of September to £230,000 by the end of the month.

The platform Hubwise has halved the cost of its SIPP plan, it says, and has reduced entry costs as the company’s chief executive lambasts 'unfair' high charges he claims are prevalent in the sector.

The acquisitive Embark Services Group, parent company of Sipp provider Rowanmoor and platform Avalon, reported pre-tax losses widening last year from £1.46m to £2.36m.

The Association of Member-Directed Pension Schemes (AMPS) is to host its annual Compliance and Technical Seminar on 9 October at the Hilton London Paddington. 

Sipp and platform provider AJ Bell has urged Chancellor Philip Hammond to avoid slashing pension tax relief in the Budget after speculation that the Treasury will need to cut pensions relief to make up for shortfalls in revenue and to curtail the rising cost of pre and post-retirement tax benefits.

Former pensions minister Sir Steve Webb has warned that Labour Party plans for reduced state pensions from 64 “face serious practical obstacles.”

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