Richard Jacobs Pensions & Trustee Services is devising a training course to assist lawyers in completing the new-look pension questionnaire for divorcing couples.From October, divorcing couples will face new disclosure paperwork surrounding their finances. The courts will be able to order respondents to provide a four-page summary of their pension benefits. This includes a previously unrequired depth of information, including the funding status of the scheme and basis of the transfer value calculation. Director Richard Jacobs is seeking Law Society accreditation as a certified training provider. He says solicitors need to be made aware of the options for shared pension arrangements, such as whether to transfer out of the employer’s scheme. He says any pension sharing arrangements from October will have to be agreed earlier in the case, typically, when proceedings can be at their most bitter. Jacobs says: “The form is complicated and really needs to be completed by an actuary. The legal profession finds pension sharing difficult to cope with and we are putting together a course that will help them.”
Scottish Widows Investment Partnership has reduced the minimum investment in its property unit trust from 100,000 to 5,000. Demand for commercial property investment continues to be strong. The move aims to open the fund to the wider retail market following its launch in November 2004. The Swip property trust has been marketed through Lloyds TSB’s […]
The latest issue of Skandia’s protected portfolio investment range provides capital growth linked to an equally weighted portfolio containing the Artemis income, Schroder UK mid-250, New Star UK alpha, Norwich property trust and Invesco Perpetual corporate bond funds over a five-year term. Informed Choice director Martin Bamford says: “This protected portfolio invest-ment differs from the […]
Derbyshire Building Society has long shown a commitment to the intermediary market since Tony Capon took over the adviser channel some five years ago.
Credit Suisse Asset Management has introduced the Incubator fund, which is believed to be the first limited-issue fund of funds in the UK.
Having stabilised at around $65 a barrel, many investors are questioning if the price of oil will rise, and when. Richard Hulf provides his view. Richard Hulf, manager of the Artemis Global Energy Fund, sets out his thoughts about how the oil price may move through the next six months. At the start of the […]
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The Government should make it easier for advisers to sell products that blend income drawdown with insurance to meet future care costs, according to former pensions minister Steve Webb. A paper published today by Royal London calls on the Government to introduce policy changes which allow new products to be created that pay for long-term […]
Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]