Industry news and views from Panacea and our partners.
Pensions_
Royal London: Helping trustees with DB transfers
Our policy paper helps pension trustees steer the right course in a world of large-scale DB pension transfers. Few issues divide the pensions world like transfers from defined benefit (DB) to defined contribution (DC) schemes.
Prudential: Defined Benefit transfers meeting client objectives and regulatory requirements
Register to join one of Prudentials webinar sessions on Thursday 18 October to listen to industry specialists discuss different aspects of Defined Benefit (DB) transfers.
Royal London: Older workers represent huge talent pool for employers
Pensions Specialist Helen Morrissey looks at the shift in the typical retirement age shown in the recent UK Labour market statistics.
Aviva Investors: Balancing liquidity and flexibility: a DB de-risking dilemma
As transfers out of UK Defined Benefit (DB) pension schemes reach record levels, John Dewey assesses the implications for pension schemes with alternative income allocations.
FundsNetwork: Pension technical videos to support your revision
With the CII exams less than two weeks away, you may find our revision content valuable for your final preparations. Our library of over 40 videos covers many of the key syllabus and our video focusing on exam technique tips is particularly popular at this time.
FundsNetwork: Preparing for the CII exams next month?
With pension exams fast approaching, why not take a look at our library of pension technical videos to help you prepare? Topics range from defined benefit transfer issues, to tax relief and lifetime allowance considerations.
L&G: Spotlight on Income Roadshows 2018
Legal & General believe that by working alongside advisers, there is an opportunity to transform and improve the retirement marketplace with their award-winning products
Royal London: Automatic enrolment contributions are increasing
Read more about these changes and how were supporting employers and their members.
Royal London: ONS statistics show there are important lessons still to be learned about pensions.
Helen Morrissey digests the recent ONS insights into workplace pensions and how advisers can help.
FundsNetwork: The State Pension - a technical guide
FundsNetwork State Pension technical guide examines the differences between the old and new State Pensions and the options open to clients should they wish to boost their entitlement or defer their income.
Royal London: Could your clients fall into the taper trap?
Jim Grant looks at how the tapered annual allowance could affect your clients with higher incomes.
Prudential: What do Michael J, Arnold and Cher have in common?
As a sci-fi geek and former Physics student, the concept of time travel often intrigues Mark Devlin, Senior Technical Manager at Prudential .
Key Partnerships: Refer your Equity Release Cases...
The equity release market is continuing to break records, year on year, provide your clients with more retirement options, by referring equity release cases to Key Partnerships.
Prudential: Cant pay? Well take your pension away!
Your client has an annual allowance excess which means theyve a tax charge to pay. Youve heard a pension scheme will pay this charge from a members benefits using Scheme Pays. If you client is in the fortunate position that they could afford to pay the tax charge on their own, should they pass up an offer for Scheme Pays and pay their own way? Jacqueline Clezy, Technical Manager at Prudential works it out.
Royal London: Five reasons why you might put pension death benefits into trust
Death benefit freedoms mean that clients in a fully flexible scheme can pass on their pensions to anyone. However, in some situations expressing a wish or nominating individuals might be problematic. Another tool to have in the pensions planning toolkit is for the death benefits to go into trust (this is sometimes known as a spousal bypass trust). The trust receives a lump sum death benefit from the pension scheme and then the trustees administer it.
Sustainable funds now available for Royal London pension customers
Royal London pension customers can now access a range of sustainable funds managed by Royal London Asset Management at no extra cost through their workplace and individual pension plans.
PFS issue new pension transfer good practice guide
The Personal Finance Society have issued an updated good practice guide covering transfers from defined benefit to defined contribution pension schemes
Prudential: Death is not the end
If youre an adviser with clients in the Public Sector you will be painfully aware that the rules of public service pensions schemes are enormously complex. Moira Warner, Technical Manager at Prudential, explores.
Royal London: Investment Viewpoint: April 2018
Two years on from the launch of our Drawdown Governance Service, Lorna Blyth, Head of Investment Solutions, reflects on drawdown trends and safe withdrawal rates.
Royal London: What does value for money in a DC default look like?
The phrase value for money is fast becoming a favourite phrase of the pensions industry. The regulator sees 'value for money' as a key outcome for workplace pension members and as a result both providers and Independent Governance Committees (IGCs) are keen to evidence it. But what is it and can it really be measured?
Prudential: Has it really been 12 years already?
Pensions simplification promised to remove the complex rules and multiple maximum benefit calculation regimes that existed prior to 6 April 2006. So how has our relationship with the changes that were introduced developed over the last 12 years? Jacqueline Clezy, Technical Manager at Prudential explores.
New ONS stats on workplace pensions - the champagne needs to be put on ice - Steve Webb, Royal London
It is great news that nearly ten million extra workers are now saving in a pension because of automatic enrolment, and particularly encouraging that the youngest workers have seen the sharpest rise in membership. But these figures show that the champagne needs to be put on ice.
Royal London: Why it can be worth getting to grips with the new state pension
When the new state pension was introduced in 2016, the goal was to create a much simpler system. When the new scheme is fully up and running, people who have a combination of paid National Insurance contributions and/or NI credits for 35 years of their working life will get the full flat rate pension, currently worth a little over £8,500 per year .
FundsNetwork: Advising on pension transfers
To improve the quality of pension transfer advice given to consumers, the FCA has issued new guidance and announced further consultation.
FundsNetwork: The State Pension a technical guide
The State Pension is an important consideration when managing a clients overall income in retirement. However, entitlement and the amount due will depend on a number of client-specific factors. Whats more, the State Pension changed on 6 April 2016 and different rules apply depending on when a person reaches State Pension age. In this newly released guide, FundsNetwork examine the differences between the old and new State Pensions and the options open to clients should they wish to boost their entitlement or defer their State Pension.
Royal London: Our workplace pension aims for exceptional, without exception
We know its good to provide a good workplace pension solution. But we aim to offer a brilliant one. Thats why we choose to focus on four key areas.
Prudential: Defined Benefit Transfers the futureproofing of advice
Prudential are running a webex on 26 April at 9am, 11am and 3pm. Prudential are delighted to have Rory Percival, an independent regulatory expert join their Director of Specialist Business Support, Vince Smith-Hughes, as they discuss the current state of the DB market.
Prudential: Tapered Annual Allowance
Were now in the second year of the Tapered Annual Allowance and while since the introduction of this, the legislation has not been altered, but can still be a tricky path to navigate. Mark Devlin, Technical Manager at Prudential explores.
The Pensions Regulator - Industry update April 2018
Welcome to your April update this regular e-newsletter brings you TPRs latest automatic enrolment (AE) and pensions news and tips for your sector.
Royal London: Steve Webb: What to expect from April's contributions increase
Our latest policy paper looks at the potential impact of the upcoming statutory phasing increase, and how to help your clients. The first phase of automatic enrolment has been a huge success. One million employers have automatically enrolled around nine million workers into a workplace pension.
Prudential: Planning Matters delivering income needs
Prudential are running a webex on 10 April at 9am and 11am. They recently ran a series of seminars across the UK that proved really popular, attracting over 1400 advisers. Feedback was so strong that theyve decided to run a webinar that covers the key points discussed, so those who didnt make it don't miss out.
Prudential: Can your client wait to vest?
Clients who have lifetime allowance issues may be better off waiting until after 6 April to vest their benefits. However, the important thing to factor in is where the pension fund will be at the point of crystallising. Senior Technical Manager at Prudential, Clare Moffat investigates.
The Pension Regulator: Scottish rate of income tax update
The new Scottish Income Tax rates and bands for the 2018 to 2019 tax year were confirmed on 20 February 2018 and will apply from 6 April 2018.
Steve Webb: is it time for the care pension?
Steve Webb offers a potential solution to the issue of funding long-term care, by asking whether its time for the care pension.
The Pension Regulator: If your clients are falling behind, contact us for support
Employers need to complete their legal duties in good time, and we recognise that most will want to do the right thing for their staff. If your clients are having difficulty complying with their duties, they should tell us as soon as possible so we can support them. Well provide advice and guidance to get them compliant.
Retirement isnt just about Pensions
As professional advisers we tend to think purely about financial issue in later life and how to ensure our clients are in the best position from this regard. Even when searching the internet for articles related to retirement, it is difficult to find anything that is not about pensions. Although a pension is essential to everyone reaching retirement age, there is more to retirement and it is often the softer issues that people worry about.
Royal London: What's next for workplace pensions?
Watch Akademias new video where Jamie Clark of Royal London discusses the opportunities the workplace pensions market represents and what can happen when things go wrong.
The Pension Regulator: Automatic enrolment doesn't end with your client's declaration of compliance
So, youve helped your clients assess their staff, put them into a workplace pension and declare their compliance. But automatic enrolment (AE) doesnt end there and neither do your clients responsibilities.
Prudential: The Annual Allowance (AA)
Mark Devlin, Technical Manager at Prudential covered pensions tax relief in their last edition of Oracle Technical. In the February edition hell go through the flip side of the pension funding conundrum, the Annual Allowance (AA).