All Advice and guidance articles – Page 12
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OpinionPension advice allowance – action needed?
From the blog: April 6 saw the introduction of the pension advice allowance: a new type of tax-authorised payment to allow members of defined contribution (or hybrid) schemes to take up to £500 from their pension pot to pay for financial advice.
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News
Ideas from overseas can up engagement, report finds
The Pensions Policy Institute has published a report looking at consumer engagement with pensions and financial products across the world, highlighting numerous lessons the UK can learn from overseas.
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News
Advice suitable but disclosure too complex, finds FCA
The Financial Conduct Authority has published the findings from its review into the suitability of pensions and investment advice, but while the results are reassuring, experts say more needs to be done to make advice less convoluted.
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Opinion
Should trustees review their advisers more often?
Analysis: There are myriad tasks involved in running a pension scheme, so time is precious and efficiency is key. But when it comes to evaluating advice, how can trustees measure performance, and should they be reviewing their consultants more frequently?
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Opinion
The mother of all wash-ups
From the blog: Perhaps it would have been helpful of Theresa May and her cabinet to give a little more thought to the progress of current legislation before taking the country to the polls.
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NewsExperts call for mandatory guidance as FCA targets advice take-up
The Financial Conduct Authority will prioritise retirement income provision within pensions in 2017-18, addressing perceived problems with consumers who do not take regulated financial advice, as some argue schemes should organise Pension Wise sessions by default.
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News
FAMR makes headway but experts say further progress is needed
The Financial Conduct Authority has published a progress report on its Financial Advice Market Review, alongside a consultation that sets out proposed guidance, but reactions in the pensions industry show there is still a long way to go.
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News
Freedom and choice: Engagement improved but confusion remains
Two years have passed since the government introduced the pension freedoms, and although the flexibilities have improved engagement to some extent, the increased complexity has also led to confusion.
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OpinionWill the slashing of fees exacerbate the advice gap?
Technology is a wonderful thing, but it is not something that has been applied with any great skill or diligence in the pensions arena.
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News
TPR guidance: Welcome set of principles or waste of time?
While some have welcomed the Pensions Regulator’s recently published and extensive collection of investment guidance for those running defined benefit pension schemes, there are some concerns over the effectiveness of the information for time-stretched or less diligent trustees.
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News
CPS 'auto-protection' call reignites freedoms debate
Thinktank the Centre for Policy Studies has highlighted the need to shield savers from financial risks in later life through the idea of “auto-protection”, with the introduction of auto-drawdown, followed by auto-annuitisation at age 80.
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FeaturesMore pensioners to be offered Pie at Metal Box
The Metal Box Pension Scheme is planning to offer a pension increase exchange to more pensioner members this year, having offered one to some members in 2015.
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NewsThe jury is still out on robo-advice
The pensions industry must focus on technology and consumer engagement to keep up with changing demographics and work habits, but opinions are divided over whether robo-advice is the best solution.
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OpinionThe role of advice in a digital world
Long-term saving is one of the biggest issues facing society today. People are living longer and the pensions landscape seems to be constantly changing, which makes it very difficult to navigate and to know what options work best for individuals.
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News
Treasury triples advice allowance but limits withdrawals
The Treasury has tripled the pensions advice allowance to £1,500, allowing people to take part of their defined contribution pots early to put towards retirement advice, but some experts say limiting withdrawals to £500 per tax year is still too restrictive.
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News
Trustees overlook strategic objectives due to deficit distraction
Deficits distract the majority of trustees from focusing on the ultimate goal of paying members’ pensions, recent research has found, but some experts highlighted the role of covenant strength and scheme size in deciding where the priority should be.
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OpinionTreading the line between guidance and advice
Pension schemes are by nature complex beasts. The concept is simple, but the breadth of options available and the regulatory framework we live under can make it difficult for scheme members to navigate.
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OpinionWhen investment advice goes bad
From the blog: Stories of lost nest eggs and hardship facing investors in tax schemes under investigation by HMRC are never far from the news.
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OpinionWhat we can expect from the pension scams consultation
The government’s consultation into pension scams contains four very sensible proposals that will make it harder for scammers to operate. This a great step in significantly improving consumer protection in this area.
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Opinion
Key takeaways from the finance bill 2017
The impact of the finance bill 2017, so far as pensions are concerned, does not come as a surprise as it largely follows Philip Hammond’s Autumn Statement.