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Unfinished business?

Pension specialist Fiona Tait gives an update on three big announcements from the 2016 Budget – Pensions Advice Allowance (PAA), the Lifetime ISA (LISA) and the pension dashboard. £500 Pensions Advice Allowance What’s new Under current rules it is possible to deduct an adviser charge from a defined contribution pension fund to pay for financial […]

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Govt eyes pension tax relief reform to boost younger savers

The Government is considering reform to pension tax relief which would provide bigger incentives to save for younger workers rather than older savers. The Times reports the Treasury is considering a policy proposal where the Government would offer different top-ups to pensions contributions based on the individual’s age. Under the proposal, the Government would offer […]

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Bank of England governor warns on hit from rising inflation

Bank of England governor Mark Carney has said sterling’s fall has helped the economy adjust, but that consumers will face difficulty going from “no inflation to some inflation”. Speaking at a roundtable in Nottingham, Carney said the price of goods and services is going to rise in the next few years, with food being the first […]

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Overseas transfer charge

By Jim Grant, Senior Product Insight & Technical Support Analyst, Royal London Transfers to overseas pension schemes are not recognised transfers unless the transfer is to a Qualifying Recognised Overseas Pension Scheme (QROPS). A transfer to an overseas pension scheme that isn’t a QROPS is therefore an unauthorised payment and taxed accordingly. However, even if the […]

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