Pension News
‘Options' initiative improves annuity transfer times
The pensions industry's ‘Options' initiative has delivered significant improvements in its first three months of operation, cutting the time taken for annuity transfers between providers to an average of just eight calendar days.
More confusion for pensions?
The Government today issued regulations which will allow occupational pension schemes to pay small pension pots entirely as a lump sum, without taking into account other pension benefits which an individual may have.
Budget proposals pose threat to pensions
Hymans Robertson, the leading independent pensions and benefits consultancy, has come out in support of the Treasury Select Committee's call for the Government to monitor the effect of removing higher tax relief on pensions contributions:
Share rollover - still a valid exercise?
Legal & General Managing Director of Workplace Savings, Tony Filbin, comments on the ongoing attraction of share rollover into a Company SIPP: "The Chancellor's budget last month sparked much comment around the increase in tax on high earners as a result of the reduction in tax relief for those earning over £150,000.
Keeping pensions in the family
A new SIPP from AXA has been launched, offering families and business partners a flexible way to invest together, tax efficiently.
Interest rates held at 0.5% 'another blow for pensioners'
Director at Fairinvestment.co.uk, James Caldwell comments on the Bank of England's decision to hold interest rates at their record low of 0.5 per cent.
Aviva slashes inherited estate payout
As Aviva announces a new offer over the reattribution of its inherited estate, which will see the average payment offered to policy holders slashed from £1,000 to £600, Which? chief executive Peter Vicary-Smith, says: "Policyholders will be disappointed by the cut in the payout.
HSBC launches World Selection Personal Pension
HSBC has launched a flexible and straightforward Personal Pension Plan based on its innovative and globally diverse multi-manager, multi-asset class World Selection portfolios.
SIPP investors take retirement savings into their own hands
Investors taking control of their retirement savings in a SIPP are sufficiently confident in their investment choices and believe that they can outperform the professionals.
Ascentric launch new pension plan
Ascentric, the independent wrap platform, has launched the ‘Ascentric Pension Account' (APA), a simple, low cost SIPP that provides IFA clients with the opportunity to consolidate their holdings into a single product offering flexibility, choice and transparency together with the ability to view and monitor performance online.
L&G Investment Management wins at UK Pensions Awards
Legal & General Investment Management (LGIM) has once again been recognised as an industry leader, winning a total of three awards at the 2009 UK Pensions Awards ceremony organised by Professional Pensions.LGIM were shortlisted for five catgories and won three:
Pension taxation changes will have wider destructive impact
The Chancellor's Budget announcement that pension tax relief will be restricted for top earners would seem at first sight to be a measured response to the need to increase Government revenues in difficult economic times.
Norwich Union annuities service is a hit with customers
New figures from Norwich Union, soon to be Aviva, show that 95% of customers who take out an annuity through Norwich Union are happy with the service they receive, with three quarters stating they are ‘very' or ‘extremely' satisfied.
LV= confirms RPI-linked annuities will not be reduced
Retirement specialist LV= has confirmed that the announcement today of the Retail Price Index (RPI) falling to -0.4%, taking the UK into deflation for the first time in 50 years, will not affect its annuity customers whose income is RPI-linked.
LV= Flexible Transitions Account gets 5 star rating from Defaqto
The recently launched LV= Flexible Transitions Account, which offers people a wide range of pension investment options and choices to suit their individual needs, has received the top 5 Star Rating from Defaqto.