All Budget articles – Page 6
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News
Consultants call for more flexible DC retirement products
Industry figures have called for flexibility to be built in to defined contribution solutions, as the first post-Budget products aimed at members looking to draw down income at retirement reach the market.
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News
Tax changes: how they affect scheme rules
Schemes have been urged to move quickly to prepare for forthcoming changes to pension tax legislation, with the new ‘uncrystallised funds pension lump sum’ expected to prove popular among members.
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Opinion
What the guidance guarantee means for your scheme
The Treasury’s proposals for more freedom and choice for individuals retiring with a workplace pension present one of the most complex set of challenges for scheme practitioners in recent years.
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Opinion
The break between state and private pensions is complete
Our pension system through the whole of the twentieth century was subject to real tensions between compulsory state pensions, private pensions and means-tested support for the elderly poor.
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News
Tenth of employers weigh up medium-term DC drawdown offering
One in 10 UK employers have said they will offer members post-retirement drawdown facilities within their defined contribution scheme in three to five years, according to a poll, but advisers still doubt trustees’ desire to govern such provision.
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News
DB-to-DC transfers forecast to impact on derisking strategies
Investment experts have predicted liability-driven investment programmes could become more tricky since the chancellor gave the green light to transfers from defined benefit to defined contribution, with schemes finding find it more difficult to predict liabilities.
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Opinion
How to educate DC members on retirement 2.0
It is a sad truth that engaging members with their retirement savings has been a difficult and largely fruitless endeavour for trustees, employers and providers alike.
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Opinion
The Budget has not killed off lifestyle strategies
I suspect very few of us foresaw the changes proposed in March's Budget. All the initial talk was about the added flexibility of drawing benefits, with Steve Webb even commenting on whether pensioners would spend all their savings on a Lamborghini.
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OpinionSnowdon: 'unseen army' of non-IFAs could deliver guidance guarantee
Like many, I welcome the guidance guarantee at the point of retirement for members of defined contribution pension schemes.
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Opinion
Picking through the guidance guarantee small print
Finally some details on the guidance guarantee. Soon-to-be pensioners will receive independent guidance from April 2015, as the government clarifies the guidance guarantee announced in this year’s Budget.
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OpinionEditorial: Longevity, BT, and our print break
Longevity risk has been on everyone’s mind since telecoms giant BT announced a behemoth deal to hedge 25 per cent of its total exposure to longevity improvements.
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News
One in four executives taking cash in lieu of pensions
The number of FTSE 250 executives taking taxable cash supplements instead of pensions has risen, according to a survey, as the way high-earners receive benefits has changed in light of lower lifetime and annual allowance limits.
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Opinion
The Budget changes were dramatic, surprising and good for DC
On March 19 I left home as a worker in the pensions industry, and 10 hours later I returned, shaken, shocked and working in the lifetime savings industry.
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Features
Schemes line up bulk commutation after Budget grants derisking opp
Consultants have reported more schemes considering bulk trivial commutation exercises, in an attempt to drive down administration costs and liabilities, after the amount members could take as a lump sum was increased.
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Opinion
How to predict member outcomes in the new normal
Myriad products could help grow pension savers’ assets following the Budget changes, but caution is recommended.
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Opinion
Checking the price tag: evaluating the charges obsession
Data analysis: The Budget reforms signal an age of greater plurality in retirement possibilities for members.
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Opinion
Bee: Why I was pleased and horrified by the Budget changes
I was very pleased by the pension changes that were announced in this year’s Budget – but seem to be in a minority of one in that I was horrified by it all too.
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OpinionEditorial: Guidance without the notes
It is hard to imagine, but not long ago there was a time of blissful ignorance when the industry was not obsessed with the words ‘guidance guarantee’.
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Opinion
Pressure swells against providers delivering guidance guarantee
Which? has struck the latest blow against pensions providers wishing to deliver the guidance guarantee unveiled in this year’s Budget.
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NewsAMNT: Oz-style 'supers' could emerge from latest UK reforms
The Association of Member Nominated Trustees has said ‘to-and-through’ retirement options could pave the way for Australian-style superannuation schemes, if employers are willing to take on any additional governance burden that a post-retirement commitment could create.