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Ascentric still to transfer 90% of assets to new platform

Royal London-owned platform Ascentric has transferred just 10 per cent of assets to its new platform with no date confirmed for the next phase. Ascentric is moving from proprietary technology to Bravura software and the first stage of the migration took place in April. An Ascentric spokeswoman confirms just 10 per cent of assets have […]

death benefits pensions

Death benefits: Discretion or direction?

Jim Grant – Senior Product Insight & Technical Support Analyst, Royal London  Jim Grant considers the impact of different approaches to nominating beneficiaries for death benefits. When a pension scheme member dies, the scheme administrator has to pay the death benefits to someone. The process of choosing who the beneficiary(ies) should be can either involve the […]

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FCA refuses to rule out drawdown charge cap as regulator calls for ‘pounds and pence’ fees

The FCA has refused to rule out a cap on drawdown charges as it releases a flagship report into the state of the retirement market since the pension freedoms. In its Retirement Outcomes Review published this morning, the FCA is calling on providers to establish ready-made drawdown “investment pathways” to simplify retirement choices and improve […]

Canada Life welcomes HMRC’s DOTAS legislation

“HMRC’s tax guidance provides welcome clarity around the use of mainstream estate planning solutions, such as flexible reversionary trusts,” says Sean Christian, MD & Executive Director – International Businesses, Canada Life International. Sean Christian said: “The new Disclosure of Tax Avoidance Schemes (DOTAS) legislation enables HMRC to crackdown on aggressive tax avoidance schemes, while the […]

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