Bookmark Us
websterblog

We all know that annuity sales have been in decline for some time with the rise in popularity of drawdown under the Pension Freedoms and the poor value they are perceived to offer.

The FCA recently issued its long-awaited policy statement on disclosing costs and charges to workplace pension scheme members – PS20/2. I wrote about this back in June last year, shortly after the consultation had closed and it had all been very quiet for a long time.

As you will no doubt be aware, we have recently had the budget date announced as 11 March. This is somewhat later than anticipated, not least because the Conservatives pledged a post Brexit Budget in February as part of their election campaign.

Forgetting the taper may be wishful thinking for those of us in the pensions world but most of the general public (NHS aside) may be blissfully unaware. 

Starting a pension for a child is a very long-term investment, and probably one only considered by high net worth individuals who have used every available tax wrapper to the max. Given the most that can be paid in for someone with no earnings is £3,600 gross a year, it’s important that any pension started is low-cost or the tax benefits can quickly be wiped out.
I joined the industry at the start of 2005, when A-day was approaching and a whole new world of simplified pensions was on the horizon.
I’ve spent the last few weeks travelling the length of the country talking about the Retirement Outcomes Review (ROR) and what it means for advisers and their clients.
On 1 November we will see the first big changes come into force as a direct result of the Retirement Outcomes Review (ROR) – the FCA’s big piece of work on the post-pension freedoms world. Although the ROR focuses primarily on non-advised clients there are knock-on effects that will be felt by all clients, and their advisers too.
An independent pension commission is something for which we at AJ Bell have long campaigned.
You may be forgiven for thinking regulations in respect of workplace pensions has little to do with SIPPs, yet recent proposals from the FCA could catch many thousands of SIPPs in the workplace net.
Page 1 of 2

News from Twitter