Industry news and views from Panacea and our partners.
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New FundsNetwork pension technical videos
FundsNetwork has extended their series to cover six more topics including calculating the cash equivalent transfer value, Pension Commencement Lump Sum (PCLS) and transitional protection, and understanding a Transfer Value Analysis System (TVAS). These are a great source of information if you want to top up your technical knowledge or if youre taking CII exams.
The Pension Regulator: Industry Liaison Manager update - November 2016
Welcome to your new Industry Update, a monthly e-newsletter bringing you TPRs latest automatic enrolment news and tips just for your sector
The FundsNetwork Pension: take a look at the latest enhancements
You can now transfer existing drawdown arrangements to FundsNetwork online; just one of the recent enhancements theyve made to their pension to make it easier for you. Theyve also made a number of other changes recently based on feedback received from advisory firms.
FundsNetwork: Tapered annual allowance
With the introduction of the pensions tapered annual allowance on 6 April 2016 FundsNetwork have created an in depth factsheet. This covers how the taper works and who it affects, what happens when the annual allowance is exceeded, threshold income versus adjusted income, along with examples to illustrate these new rules.
Prudential: Dont bother to definitely consider
Examine why advisers should be talking to their clients about DB to DC transfers.
The Pensions Regulator - Industry Liaison update October 2016
Our latest burst of advertising has now gone live Our media campaign is set to evolve next year, but in the meantime there will be some further advertising (with broadly unchanged content) across multiple channels as shown below:
Royal London: Pension investment strategy - Are Target Date Funds the future for UK DC scheme members?
There are now more active savers in UK DC pension schemes than in DB pension schemes, according to recent stats from the Pensions Policy Institute. They also estimate that in just 15 years there could be as many as 17 million members enrolled in DC workplace pension schemes*. Based on current experience it is expected that typically around 80-90% of these members will end up in default funds, which means for scheme managers and their advisers, ensuring that the investment default options available offer the most suitable investment option, is really important.
Prudential: State of the nation WebEx event register now
Prudential are running a State of the nation WebEx day on 27 October 2016, to help you identify new financial opportunities with your clients. There have four different sessions running on the day.
The Pensions Regulator: Are DB schemes in crisis?
Weve just launched a new blog, which showcases the news and views of TPR senior staff in their own words. Theyll be covering a variety of subjects, from how to engage people with pensions and savings, to how well be helping newly-created companies meet their automatic enrolment duties.
FundsNetwork: Pensions technical videos
FundsNetwork offers a range of pension technical videos to support you if youre sitting pension exams or just want to brush up on your knowledge. Two of the latest in the series focus on the requirements and restrictions of the Pension Protection Fund and different types of lifetime annuity, discussing conventional and flexible lifetime annuities and the benefits of each.
The Pensions Regulator - Industry Liaison update September 2016
Phasing of contributions The new regulations, amending the dates the minimum pension contribution increases take place, have now been passed by Parliament Phase 2 on 6 April 2018 and Phase 3 on 6 April 2019.
Blackrock: The rising cost of retirement dont panic, plan
The cost of retirement has risen sharply this year. Find out why.
RLAM: Meet the managers
Following the launch of the Royal London Global Multi Asset Portfolios (RL GMAPs) in March this year, RLAM are delighted to invite you to join them to the meet the managers behind these strategies. RLAMs breakfast briefing is taking place on Wednesday 19 October at the City of London Club, details below.
'Property is a better bet' really?
When discussing what was the better bet for retirement planning, the Bank of Englands chief economist Andy Haldane said it ought to be pension but its almost certainly property. In this article we consider an alternative view.
Royal London: Lifetime allowance protection online servicing
HMRCs long-awaited service allowing pension scheme members to apply to protect pension savings from the lifetime allowance charge was launched on 28 July 2016.
Royal London: One year on from pension freedom
This month the Association of British Insurers (ABI) published their data on pension withdrawals over the first 12 months of pension freedoms.
FundsNetwork: Pension lifetime allowance client guide
FundsNetworks new guide can help aid discussions with your clients on the pension lifetime allowance.
The Pension Regulator: AE Industry Liason Manager update - August 2016
Sign up to our free September events in Edinburgh and Nottingham Please join us in September for one of our half day business adviser events, where you can find out about the latest regulation changes and how you can help your clients comply with their legal duties. Off the back of feedback from previous events, we are also including information on re-enrolment, so wherever your clients are in the AE journey our experts will be able to help you support them.
Royal London: Savings MOTs - hope for 'Squeezed' savers
In our latest research report, we look at how people who are currently struggling to manage their existing finances can take action to boost their retirement savings.
FundsNetwork: Pensions technical support videos
FundsNetwork have a range of pension technical videos to support you if you want to refresh your knowledge or if youre taking pension exams.
Prudential: A DGT with 100% access and 100% discount?
What type of wrapper could this be? A pension!
FundsNetwork: Death Benefit Schemes: options and benefits at retirement
FundsNetwork have a range of technical videos that are a useful source of information if youre looking for support to improve your pension knowledge or if youre sitting pension exams. Two from the range of 18 videos available, cover the options and benefits from Defined Benefit Schemes.
FundsNetworks new retirement guides for use with your clients
With greater flexibility in how clients can approach their pension savings, FundsNetwork have added three new guides to their website to aid your discussions with clients about pensions and retirement options. You'll find information on how to save more into a pension with carry forward, tapered annual pension allowances and how clients can make pension tax relief work for them.
Prudential: The trend is your friend but not your clients!
Pension freedoms are helping to drive a boom in inheritance tax (IHT) planning advice.
FundsNetwork: New pension technical videos
Brush up on your pension knowledge with our new technical videos. Presented by Neil Dickey, these six videos cover topics such as lifetime allowance - transitional protection, defined benefit schemes and different types of annuities. So whether youre sitting your pension exams or just want to improve your knowledge, these videos aim to support you.
Prudential:The trend is your friend but not your clients!
Pension freedoms are helping to drive a boom in inheritance tax (IHT) planning advice.
The Pensions Regulator - Industry Liaison update July 2016
Some key highlights from our latest annual update just published.
Royal London: Scheme pays explained
We've received lots of queries on scheme pays and when it can be used. This article explains how it works and the conditions which apply.
Prudential: Having control of your pension death benefits from the great beyond
Whilst you physically won't be able to control your pension death benefits post mortem, you can put plans in place during your lifetime to have a form of 'control' over how these are distributed.
Prudential commissions independent guides to help meet adviser due diligence requirements
Prudential has commissioned four new guides from two expert independent research companies, Defaqto and AKG, to support financial advisers in meeting their due diligence requirements.
Prudential: Demonstrating the sequence of returns risk
As more customers make the transition away from annuities towards Drawdown, it becomes even more important to think about the management of the process and the risks. Things like sequencing of risk, consistency of investment performance, timing and sustainability to name but a few.
Prudential: Oracle technical - June edition is now available
Welcome to June's edition. Ive been out presenting at our Planning Matters seminars with some of my colleagues from our Business Consultancy and Business Development teams in the last few weeks.
Drawdown governance service. Another pioneering invention from Royal London
As the saying goes, 'Necessity is the mother of invention'. Here at Royal London, we understand that drawdown clients need ongoing reviews and expert advice to help them stay on track.
BlackRock: Saving for Retirement Starting at Birth
Funding retirementwhether through a state pension or privatelyis increasingly expensive. Traditional defined benefit plans are financially stressed, as workforce demographics tip toward a more balanced ratio of younger to older workers.
Canada Life: Retirement Planning Pensions and International bonds
With the introduction of the tapered annual allowance and the reduced lifetime allowance, retirement planning is somewhat limited for higher earners or those with generous final salary benefits or well-funded SIPPs with no further scope to fund their pensions.
Prudential: Making it easier to access important information
We understand that your time is precious and this is why we have developed a quick and easy way to access past performance data on the funds available from Prudential.
Plain English Finance: Brexit vs Pensions
Osborne and the Treasury are currently claiming Brexit 'could cost pensioners £32,000' whilst the 'leave' camp claim 'new EU rules will cost British pensioners £400bn': Both statements are about as much use as a chocolate fireguard and we must not take any of these sorts of statements seriously.
Pension Dashboards around the World
British savers risk being left in the slow lane unless the UK Government takes a more active role in ensuring the successful delivery of a Pensions Dashboard.
British savers risk being left in the slow lane unless the UK Government takes a more active role in ensuring the successful delivery of a Pensions Dashboard.
British savers risk being left in the slow lane unless the UK Government takes a more active role in ensuring the successful delivery of a Pensions Dashboard.
Canada Life: Making the most of the new pension rules as part of estate planning
With the introduction of the pension freedoms which came in last year, there were also changes to the rules around pension death benefits, opening up the narrow definition of who could be classed as a beneficiary, as well as the tax treatment of those benefits once in the hands of the beneficiary. These changes provide new opportunities for incorporating pension death benefits into your overall estate planning. How are pension benefits taxed on death?