The Government was keen to allow those with defined benefit pensions access to the same freedom and choice as those with defined contribution savings. That is why we have new rules that allow transfers to proceed once a member of a DB scheme has received advice. However, the planned reduction of the lifetime allowance from […]
After all the hullabaloo, pension freedom is finally off the ground and running. Despite some slightly uncomfortable headlines (about a dash for cash, buying speedboats and the like) it is still too early to draw definitive conclusions as to the impact this is having and will have on pension saving generally. It will be necessary […]
This year’s Budget statement confirmed that up to five million pensioners are to be given new flexibility to trade in their annuities for cash from next year. The rationale is to ensure that people who have already purchased an annuity have access to the same pension freedoms now in place for those approaching retirement. The […]
The pension freedoms promised by Chancellor George Osborne have arrived. With them have come a whole host of issues and dilemmas for advisers. Insistent transfer requests seem to be top of the list. Personal Finance Society chief executive Keith Richards even took the unusual step of writing to the FCA and the Government to highlight […]
Last week’s Budget did Labour no favours in trying to convince voters there are better people to run the economy.
The announcement from Chancellor George Osborne on the consultation regarding the sale of annuities already in payment, to me, just seems like another fad the Government is pushing out there to get votes. The thing that has really grated with me so far (and when writing this, I have not had sight of the consultation […]
I have always been a firm believer most of the financial mistakes made by individuals could have been avoided had the national curriculum included an introduction to basic products and an overview of planning. However, with each passing Budget I am beginning to question this ideal. The regularity with which successive chancellors have meddled with […]
Drawdown is fast becoming the default method for taking retirement income, so advisers need to be comfortable with its complexities.
Behavioural science will play a significant role in how consumers make decisions.