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How dangerous is the decline of annuity competition?

The stockmarket took just under an hour to decide former chancellor George Osborne’s pension freedoms spelled doom for traditional annuities. The share prices of Just Retirement and Partnership – which, as enhanced annuity specialists, were severely exposed – plummeted in the wake of the announcement. Traditional insurers were also hit, although these more diversified businesses […]

Govt to close specialist pension schemes for overseas workers

The Government has announced it will close specialist pension schemes to new savings for people working overseas in today’s Autumn Statement. So-called Section 615 schemes will close to new savig for those employed abroad from 6 April 2017. The tax treatment of foreign pensions will be more closely aligned with the UK’s domestic pension tax […]

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Hammond delivers first and last Autumn Statement

Chancellor Philip Hammond has delivered his last Autumn Statement as he shakes up the timetable for the Government’s economic and financial statements. Hammond says: “No other major economy makes hundreds of tax changes twice a year and neither should we.” He says the spring Budget in March will be the final one, and then the […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]

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