Latest Columns
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Tilley: The lost art of SSAS trusteeship
In his final regular column for SIPPs Professional, pensions expert Martin Tilley looks at why understanding trust law matters as much as understanding pension administration when it comes to successful SSAS trusteeship, a topic he feels is vitally important to the future of the sector. We're pleased to say Martin may contribute occasional columns in future.
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Tilley: Time for a return to SSAS professional trustees?
For the last 20 years, the post A-Day regime has trusted SSAS members to combine three separate legal identities as pension beneficiary, trustee and business owner. Those changes preserved one of the greatest attractions of a SSAS in the form of member control, but also removed the compulsory pensioneer trustee role that existed before 6 April 2006.
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Lisa Webster: A calmer Budget? We hope so...
As we head towards our new Downing Street leadership team’s first Budget, the waters seem relatively calm.
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Lisa Webster: Take the pension first? Think again
With the impending changes to tax treatment of pensions on death, there has been talk around the order of income in retirement being turned on its head.
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Tilley: Transfer reform welcome but SSAS governance is key
At first glance, DWP’s June 2026 consultation on proposed changes to the 2021 transfer regulations does something the industry has long asked for; it acknowledges that the current regime, while well intended, has created too much friction for some perfectly legitimate pension transfers.
Popular News
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Government announces consultation on ‘guided retirement’
The government has today released details of consultations on its default pensions proposals and 'guided retirement'.
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64% unaware of imminent IHT hit to pensions
A survey for wealth manager and SIPP provide Mattioli Woods has found that nearly two in three adults (64%) are in the dark about imminent major IHT changes affecting pensions from April.
Work and Pensions Secretary Liz Kendall has confirmed that the third statutory Government review into when and how to raise the State Pension age will begin straightaway.
The Society of Pension Professionals said the revival of the government’s landmark Pension Commission is good news as it will consider a wide range of potential solutions rather than focusing solely on automatic enrolment.
Nearly one in 10 estates liable for inheritance tax paid more than £500,000 in the latest available year, with the number expected to soar from April 2027 when pensions are set to be included in IHT calculations.
In the 2021/22 tax year, 2,520 estates paid more than £500,000 in IHT, a 29% increase over three years.
If the trend seen over three years to the end of 2021/22 continues, more than 3,524 estates will pay £500,000 or more in IHT by end of the current tax year.
The figures were obtained through a new FOI by wealth manager Rathbones.
They showed that of the 27,850 estates liable for IHT in the 2021/2022 tax year, 1,630 paid between £500,000 and £999,999 in IHT, while a further 890 estates paid more than £1m.
That totals more than 2,520 estates, 9% of all estates in the year that were liable for inheritance tax. That represents a 29% increase from the figure recorded at the end of the 2018/19 tax year, and the number is rising, Rathbones warned.
Rebecca Williams, divisional lead of Financial Planning at Rathbones, said: “More and more people will be caught out by IHT charges, despite the availability of gifting allowances and the seven-year rule. The deep freeze on both the main nil-rate band and the residence nil-rate band, unchanged since 2009 and 2017 respectively, has led to a creeping form of fiscal drag.
“As house prices and asset values have steadily risen, more estates are being brought into the IHT net simply because the thresholds haven’t kept pace with inflation.”
She said the issue will worsen from April 2027, when pension assets are brought into the fold and the change could pull even modest estates into scope for IHT.
She said that makes it increasingly vital for families to engage in effective Financial Planning. “Without proactive steps, more estates will find themselves facing IHT bills they might not have anticipated.”
Additional research by Rathbones on the impact of the Government’s plans around IHT found that nearly one in three, 31%, people with pensions say they are put off making further contributions to their pension pots by the changes, which means they lose the tax efficiencies of pension saving.
The money they are no longer contributing to their pensions is most likely to be put in cash – around two out of five, 39%, questioned said they will deposit the money in savings accounts while 25% plan to invest some of the money in equity ISAs.
Almost one in seven, 14%, questioned say they have already changed their focus to property investment as a result of the decision.
Rathbones commissioned Viewsbank to survey 619 people with pensions, cash ISAs, investment ISAs, shares, investment funds and cash savings between March 14th and March 17th,. The sample represented the demographic profile of the UK.
British people in their 50s feel the least confident about retirement, according to new research from Aegon.
The Government is reviving the Pensions Commission to look at ways to tackle the problem of people not saving for their retirement.
The Financial Services Compensation Scheme has declared failed Sussex-based wealth manager and Financial Planner Facet Investment Management Ltd (FRN 131372) in default.
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