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Pension transfers fall to £8.2bn in Q2

The total value of pension transfers fell from £10.6bn in the first quarter of the year to £8.2bn in the second quarter, the latest figures from the Office for National Statistics show.  According to AJ Bell, this is the first drop in value of pension transfers since the second quarter of 2016. The figures coincide with […]

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Standard Life completes life arm sale to Phoenix

Phoenix Group has completed the acquisition of Standard Life Aberdeen’s Assurance limited. The final value for the deal has come in at £3.28bn, including £2.28bn in cash and a 20 per cent shareholding in Phoenix Group for SLA. SLA has has also confirmed plans for returning £1.75bn to its shareholders, £1bn to be returned through […]

20 providers meet over pension dashboard next steps

A group of 20 providers has met to discuss how to make the pension dashboard a reality as the fate of the project remains uncertain. While many industry figures and prominent MPs like work and pensions select committee chair Frank Field remain committed to the concept, earlier this month secretary of state Esther McVey put […]

Changes to early exit pension charges

In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55. The rules also state that for new personal pension plans started after that date, or on new increments into […]

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