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So it was with bated breath that Chancellor Philip Hammond stood to deliver his November Budget speech. Rumours has been swirling for weeks that pensions could be hit with changes to taxation. It was suggested that this would be to pay towards the NHS deficit among other things. It was with great relief that when he sat down and we reviewed the actual Budget papers that this was all just speculation and there was little impact. This can only be a good thing as any meddling impacts the distrust that consumers have for the pensions system and makes it difficult for advisers to plan for the long term with clients. How many times have we heard that PCLS or tax-free cash as it is more commonly known will be scrapped? Every Budget for as long as I can remember.
Men and women will for the first time share the same state pension age of 65 from tomorrow (6 November 2018) marking a major pensions milestone set in train 25 years ago but critics say the change is far from fair to women.
There has been a flurry of corporate results in the last few months from SIPP providers that have shown an increase in revenue due to the increase in SIPPs being set up due to the large number of DB transfers to SIPPs.
A Yorkshire-based Chartered Financial Planner has gained Later Life Adviser Accreditation from the Society of Later Life Advisers (SOLLA).
The Embark Group has appointed several new executives in a move to “further strengthen” its capacity for organic expansion in the UK.
New research has found that nearly half of UK adults (44%) believe they will fail to save enough in their pension to enjoy their “ideal retirement.”
The Association of British Insurers (ABI) has launched a new campaign urging younger workers to “Love Your Pension”, as part of the industry’s commitment to auto-enrolment.
A record number of people have enrolled into occupational pension schemes, according to new data from the Office of National Statistics (ONS).
The FCA recently published its final report on the Retirement Outcomes Review which has some interesting ideas to improve the experience of non-advised consumers, but some of the areas could cause difficulties for the SIPP sector.
Pensions administration firm Trafalgar House has been appointment to the ITN Limited Pension Scheme.
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