After serving six years on the AMPS Committee, three years of which as Chairman, I felt that it was the right time to step down and let someone else take the helm.
The FCA advised AMPS at the beginning of August that they had issued an alert highlighting some of the risks arising from authorised firms accepting business from unauthorised introducers and lead generators.
In the lead up to the Spring budget there was a fair amount of speculation about what major (negative) changes were going to be made to pensions.
I try to avoid speculating on the outcomes of the Budget. However as this year’s fast approaches one can’t help but take a great deal of interest on the various views being expressed on what will be the aftermath of the Green Paper – Strengthening the incentive to save: a consultation on pension tax relief. So I think this time I will take a punt.
Two things have happened at the beginning of this month that will have a major impact on my life.
Now nominations are nothing new, members have been able to nominate dependants to receive pension death benefits and beneficiaries to receive a lump sum.
I would recommend that everyone takes time to read the Green Paper called 'strengthening the incentive to save' – a consultation on pension tax relief.
The Office of Budget Responsibility (OBR) has recently issued its annual Fiscal Sustainability Report. This report looks at how government spending and revenues may evolve over the next 50 years and how this will impact on public sector net debt.
This year's AMPS annual conference was a great success with a 120 attendees and a wide and varied range of subject matter covered. As always there were number of topics which will be of interest to advisers.
Albert Einstein once said that "the hardest thing to understand in the world is income tax".
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