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The lowdown on new DB transfer value analysis rules

Transfer value comparator and appropriate pension transfer analysis to replace much-maligned TVAS report in October The latest instalment in the long-running debate around defined benefit transfers was revealed by the FCA just before Easter. It was the response to the consultation it ran last summer. However, the landscape has changed since that point, with the […]


Lifetime allowance 2018/19 increase confirmed but pensions absent

The Government has confirmed that the lifetime allowance 2018/19 will rise in line with inflation, but savers have been offered little else in the Autumn Budget. The lifetime allowance will increase from £1m to £1,030,000 to match CPI from 2018/19.  Though the maximum amount the can be saved each year into a Junior Isa or […]

Equity release a growing market for solicitors – Pru

Research from Prudential conducted among UK private client solicitors shows a growing need for advisory work in equity release. Twenty nine per cent of solicitors believe demand for legal guidance in the area of equity release will increase in the next five years and over the last two years, one in four (26 per cent) […]


Aviva platform reports £13m loss

Aviva’s platform has reported a loss of more than £13m in 2017, according to results filed to Companies House. While the loss is an improvement from the £18.7m reported in 2016 on the back of higher revenue from increased assets under administration, the results come amid a glitch-ridden technology upgrade for the platform. Revenue in 2017 […]


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There are 6 comments at the moment, we would love to hear your opinion too.

  1. Philip Holbrook 2nd May 2018 at 11:23 am

    Without the LTA we run the risk of Pensions being used as IHT shelters.

  2. John Hutton-Attenborough 2nd May 2018 at 11:28 am

    It punishes prudent saving, sensible investing and traps individuals in DB schemes without them even knowing about it until it is too late. It is also not just punishing the wealthy.

  3. Duncan Gafney 2nd May 2018 at 11:32 am

    Fundamentally, the LTA is unfair, as it penalises those who have been sensible and saved over the longer term, as well as those who have decided to take larger amounts of risk and have gotten higher rates of return.

    The Annual allowance restricts how much you can put in each year to prevent “abuse”, to then restrict how much you can accumulate in total is no different to putting cap on the amount anyone can hold in ISA. In simple terms, it dis-incentivises long term or higher risk investment into a pension and that’s before we even consider that someone wanting a guaranteed income of £25kpa (from DC pensions) will get penalised as “wealthy”, whilst those in DB can have twice as much and suffer no penalty.

    The LTA is driven by the politics of envy and that’s before we even consider that any extra withdrawals from very large pension funds are likely to end up being taxed at higher rates, so it’s not like there’s less tax being paid.

    If the government genuinely want to encourage saving, they need to stop putting reasons not to in place..

  4. Robert Milligan 2nd May 2018 at 2:42 pm

    If you control the Input, as we do!! How on earth can we justify the LTA, its crackers! Next we will see a cap on ISA holdings. !!!

  5. It should be a lifetime contribution limit rather than value at retirement. Otherwise someone in their 40s with a reasonable size pot could inadvertently go over the allowance at age 65 through no fault of their own

  6. Mark Coughlin 9th May 2018 at 4:13 pm

    It would make far more sense to have the annual allowance for defined contribution and the life time allowance for defined benefits.

    One you control the input as it’s easy to do, while the other you control the output.

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