05/25/2020
Will COVID-19 Create a New or Accelerated Normal for Pensions?
In other words, COVID-19 will not be midwife for the birth of new trends in the world of pensions.
Legal,Regulation & Compliance
05/25/2020
SEC Halts Advisor's Ponzi Scheme Preying on Seniors
Paul Horton Smith Sr. faces criminal charges for allegedly using new investor funds to pay interest and the return of principal to those same investors.
05/25/2020
Hargreaves to pay out over unsuitable DB transfer advice
The problem started in November 2014 when Mr D sought advice on possibly transferring out of his scheme.
05/25/2020
WASPI launch call to action campaign amidst coronavirus pandemic
The second is early access to the State Pension for WASPI women due to reach State Pension age this financial year, which would mean the Government would not have to support these women through other measures like furlough payments or benefits.
05/22/2020
Proposed insolvency legislation could harm DB schemes and PPF - HSF
Measures listed include the prohibition of creditors from filing statutory demands and winding up petitions for coronavirus related debts.
05/22/2020
Warning of pandemic sting for steelworkers
Mr Searle said whilst pension investors would generally have diversified funds, the market drops were a "powerful reminder" of the value of final salary and other defined benefit schemes.
05/22/2020
Should UK pensioners be forced to pay the bill for coronavirus? Patrick Collinson
The ‘triple lock’ on the state pension is under threat – but there may be fairer ways to raise revenue
05/22/2020
Delay over Troubles pension shames us
It has been agreed that anyone injured between January 1, 1966 and April 12, 2010 can apply to a judge-led body and could be eligible for annual payments of between £2,000 and £10,000.
05/21/2020
Pension scams morphing into investment-like fraud
Regulatory action failing as think tank says lack of data obscuring ‘true scale of the issue’
05/21/2020
Carey Pensions ruling not the death knell for all Sipp claims
As solicitor argues that Liberty Sipp and Guinness Mahon complaints are different
05/21/2020
Surge in demand for pension advice amid COVID confusion
Nearly twice as many people are seeking pension drawdown advice via Unbiased, as pension withdrawals hit a new high in the wake of the coronavirus crisis.
05/21/2020
DC pensions 'recovering' from coronavirus market turmoil
The least impacted were millennials, who had seen a dip of 5 per cent to 10 per cent but are now almost back on track relative to their longer-term retirement goals.
05/21/2020
U.K. Firms May Face Tax, Pension Bills for Furloughed Staff
The cost of the program to date is 11.1 billion pounds ($13.6 billion), according to the Treasury -- but the government’s fiscal watchdog, the Office for Budget Responsibility, estimates it will reach 50 billion pounds by the end of July.
05/21/2020
DB schemes resume transfer value quotes
XPS Pensions Group says 25 per cent of the schemes it works with initially suspended or paused transfers in the wake of lockdown.
05/21/2020
DC pension trustees' use of alternative funds may be breaching pension law - TPR
DC scheme trustees may then be breaching pension law if they do not subject these investments to the rules surrounding default funds.
05/21/2020
Good News! Govt standardises rules to make things easy for pensioners
The step is taken as different banks adopt different procedures while releasing pension/family pension or seeking declarations / certificates from pensioners / family pensioners at different periodicity.
05/21/2020
Mini-bond scandal drives £16m FSCS levy hike
We have now started the process of reviewing individual LCF claims relating to misleading advice
05/21/2020
Over a quarter of LGPS funds working to align with TCFD recommendations
A further 29 per cent of respondents stated that they were “just wrapping [their] heads round it”
05/20/2020
Piers Morgan brands UK Gov Pension minister's testing claim a 'scandal'
Piers Morgan was left incensed on Tuesday's Good Morning Britain after Thérèse Coffey said she was "proud" of the UK Government's testing during the Covid-19 crisis.
05/20/2020
Beware of emergency tax codes on pension withdrawals
This means you only get 1/12th of the available tax allowances – with HMRC assuming this is the first of a monthly series of withdrawals – and results in those savers making ad hoc withdrawals getting seriously over taxed.