Comment and Blogs
I last wrote in my column on SIPPs Professional about the changes to Normal Minimum Pension Age (NMPA) back in October, when the rules were still under consultation. The industry had highlighted many issues with the proposals and asked for a re-think in terms of how the changes were brought in.
It’s been eight months since the DWP made changes to the statutory right to transfer. Over that time the number of transfers being held up by the new anti-scam measures appears to have steadily increased.
Pension scams are not new but are growing in number and constantly evolving. Thankfully, after a slow start the wheels in motion to combat the scammers are starting to pick up speed.
The Ministry of Justice recently launched a consultation on Modernising Lasting Powers of Attorney (LPA).
Read more: Lisa Webster: SIPPs and LPAs need careful handling
I recently presented a technical webinar on pension transfers which included a look at transfers to qualifying recognised overseas pension schemes (QROPS).
The recent judgment in the HMRC v SIPPchoice case, published in May, was in relation to tax relief on in-specie contributions. This case has been ongoing for a number of years and it would appear that we finally have resolution.
Read more: Elaine Turtle: The in-specie question nears a solution