Trott

Claire Trott

Claire Trott is head of pensions strategy at Technical Connection, which offers tools and technical support to advisers on all aspects of the financial planning process.

She is a regular contributor to Money Marketing on pensions and related matters.

Claire Trott: The proof of the pension freedoms pudding

New figures show people are making the most of the freedoms, with a record-breaking number of payments made in Q3 HM Revenue & Customs’ most recent figures show a total of £21.7bn has been cashed in from pension pots since the freedoms were introduced in April 2015. Although the information from 2015 is not complete […]

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Claire Trott: Big news for ill-health pension transfers and IHT

Landmark court case sees pensions transferred in serious ill health liable to significant tax charge There have been some very interesting developments lately with regards to pension transfers in serious ill health – in particular around inheritance tax. In a landmark ruling, the Court of Appeal has found in favour of HM Revenue & Customs […]

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Claire Trott: Wake-up packs should include advice voucher

Research conducted around wake-up packs show they still miss the mark As part of its Retirement Outcomes Review published earlier this month, the FCA looked into ways it could encourage those approaching retirement to engage with both the free government guidance available and with their pension provider. The regulator’s Occasional Paper 38 reports on the […]

Claire Trott: Heads together for best pension outcomes

Prior to A-day, pension work was a financial planning exercise dealt with by just one profession. There was very little crossover with others in terms of calculations and advice, but since the advent of pension freedoms in 2015, professionals have needed to work together to get the best outcomes for clients. The best bits of […]

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Claire Trott: Can pension contributions paid in error be refunded?

Refunds are not always possible, so what can be done to unwind the overpayments? I am often asked if pension contributions paid in error can be refunded to the client or their employer. In most cases, the answer is no, so we need to be sure that any contributions paid are made and calculated correctly. Let’s […]

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Claire Trott: How Scottish tax reform impacts pensions

New income tax rates are causing discrepancies between pension schemes Changes to taxation in Scotland is having an impact on many cross-border issues, and pensions have not escaped unscathed. Not only are administrators having to record and report their Scottish members but we now have greater disparity on the tax relief front. Pensions and property […]

Claire Trott: Tapered annual allowance bites again

The upcoming self-assessment deadline is causing fresh problems As we approach the self-assessment deadline for the first time since the introduction of the tapered annual allowance, more issues are presenting themselves. This just goes to show how taper is unworkable in the long term. Well, actually, just unworkable. In many cases, it will not be […]