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Neil MacGillivray: Identifying the lifetime allowance headroom

Advisers need a detailed knowledge of the lifetime allowance test in order to confirm if clients will face a charge There is no limit on the total amount of authorised benefits a registered pension scheme can provide to its members. However, an individual has a single lifetime allowance in relation to the value of tax-privileged benefits […]

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SJP investment director steps down after three decades

St James’s Place managing director of investments David Lamb will step down from the wealth management giant’s board at the start of next year. SJP announced this morning that founder of investment consultancy Redington Robert Gardner will take over the role of director of investment management on 7 January, subject to regulatory approval. Redington already […]

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Bank of England raises UK interest rate to 0.75%

The Bank of England has increased the UK interest base rate from 0.50 per cent to 0.75 per cent, the highest level since March 2009. This is the second rate rise in a row, the last happening in November 2017, when it was pushed from 0.25 per cent to 0.50 per cent. It is also […]

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Former pensions minister Altmann to chair fintech firm

Former pensions minister Ros Altmann is to chair a pensions fintech firm focused on auto-enrolment. Pensionsync, which is part of the FCA’s Regulatory Sandbox, wants to improve auto-enrolment administration by focusing on data protection. Altmann says:” Our mission will be to improve pension auto-enrolment administration to ensure more accurate and secure data. In the next stage of […]

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