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Phillip Hammond has delivered his first Spring Statement today.

The beginning of February saw the FCA issue a discussion paper DP18/1: Effective competition in non-workplace pensions. Within the discussion paper, the FCA estimates that non-workplace pensions amount to around £400bn in AUM, double the amount invested in DC pensions schemes.
The long-awaited ban on pensions cold calling may come into effect this year as early as June after the government committed to legislation to introduce the measure.

Savers could be in line for a pension pot boost of as much as 30% this year with further rises on the way, new analysis by Aviva has shown.

We are coming up to 12 years since the introduction of pension simplification and although it seemed at the time not to solve or simplify much I would go back to that day in a heartbeat.
The FCA is proposing to retain a wider-scale public register of advisers and others working at financial services firms, it announced this morning.
Police have raided four homes and businesses as part of an investigation into “poorly-run pension schemes suspected of links to cold-calling”.
The founder of a SIPP firm has predicted ‘casualties’ within the Sipps market in coming months.
The run up to the end of the tax year can be a very busy time for advisers and is an ideal time to ensure that clients review their expression of wishes form. Trustees do have the discretion to select who will receive benefits, but will of course take account of any in an expression of wish form.
The latest figures on pension transfer values, released this morning, showed a fall last month.

The Xafinity Transfer Value Index fell steadily from £236,000 at the end of December to £231,000 at the end of January.

Sankar Mahalingham, head of DB growth at Xafinity Punter Southall, said: “Increases in gilt yields have been the main driver, with inflation remaining relatively stable.”

Graph below courtesy of Xafinity
Screen Shot 2018-02-12 at 09.38.10.png

Screen Shot 2018 02 12 at 09.38.10

The difference between maximum and minimum readings of the index over January 2018 was £6,000 or around 2.4%, Xafinity said in a statement.

The Xafinity Transfer Value Index tracks the transfer value that would be provided by an example DB scheme to a member aged 64 who is currently entitled to a pension of £10,000 each year starting at age 65 (increasing each year in line with inflation).

Different schemes calculate transfer values in different ways. A given individual may therefore receive a transfer value from their scheme that is significantly different from that quoted by the Xafinity Transfer Value Index.

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