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Comment of the week: A place for annuities

In my opinion, much of the negativity about annuities is driven by the perception of compulsion, rather than by outright rejection of the product.

Once that compulsion is removed, I suspect retirees will come to realise that the right annuity has its place and therefore the impact on annuity sales will not be as significant as first anticipated.

I also expect that once retirees attracted to the new flexibility start to take into account the income tax implications, taking pots as cash at the earliest possible opportunity will not prove to be the answer for many of them.

Mark Coulter



Scottish Widows to implement charge cap early ahead of ‘comprehensive’ review

Scottish Widows plans to implement the 0.75 per cent auto-enrolment charge cap for new members this month ahead of a “comprehensive review” of the provider’s existing book of business. Last month, pensions minister Steve Webb confirmed plans to introduce a 0.75 per cent limit on default fund fees from April 2015. The announcement has forced […]


Osborne tax crackdown set to face MP scrutiny

Treasury select committee chair And-rew Tyrie is set to scrutinise Chancellor George Osborne’s plans to get tough on tax avoidance, which include a new criminal standard to crack down on tax hidden offshore. To prosecute under current rules, HM Revenue & Customs has to prove a person holding income offshore intended to evade paying tax. […]

The Technical Quiz: 17 April

To help you to keep up with the fundamentals of tax, retirement and financial planning, try answering these questions.


Standard Life hits small firms with £1,200 fee following charge cap

Standard Life will impose a £1,200 a year fee on small employers who have agreed auto-enrolment terms with the provider above the 0.75 per cent charge cap. Last month, pensions minister Steve Webb confirmed any scheme with a charge above 0.75 per cent would not be eligible for auto-enrolment from April 2015. In March, Standard […]

The fifteen-year itch

By Neil Jones Technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The treatment of non-UK domiciles that are resident in […]


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