Industry news and views from Panacea and our partners.
Pensions_
LV= Smoothed Managed Funds Adviser Guide
Download this guide to learn how the LV= Smoothed Managed Funds work, including information on the LV= TIP which offer smoothing for your SIPP and SSAS clients.
LV= A case study in limiting downside risk in retirement
This client needs the help of his adviser to determine the best way to limit downside risk, maximise his pension savings, and receive a stable income in retirement.
Boost pension savings while balancing risk with the LV= TIP
Complement your client's SIPP or SSAS investments with the LV= smoothed funds, without transferring away.
M&G Wealth: A golden time for pensions
Pensions are a simple and effective way to reduce tax liabilities. Recent fiscal statements have created a tax landscape where tax and tax payers is on the rise. I doubt you will find anyone who is not impacted. Some minor, but some major.
Fidelity Adviser Solutions: Considerations around pension contributions
Paul Squirrell, Fidelity Adviser Solutions pension expert, runs through many of the considerations relating to pension contributions for 2023/24. This includes the annual allowance and how tax relief is applied across the various types of contribution, tapered annual allowance, MPAA and the tax charge.
YouGov: Phased retirement benefits and drawbacks according to retired British employees
According to recent survey findings, three out of five retired British employees believe that phased retirement has the potential to improve work-life balance (62%).
LV= Key takeaways from the Spring Budget March 2023
On Wednesday, Jeremy Hunt delivered one of the most crucial budgets in recent times. During a period of high inflation, a cost of living crisis and uncertainty in the markets, the Chancellors statement was highly anticipated.
Prudential: Taxation of pension income
Is pension income taxable? Read this guide from PruAdviser that outlines how pension income is taxed as earned income using PAYE.
Prudential: Pension Recycling
Recycling a pension commencement lump sum or pension income back into a pension can potentially have benefits to the member, in this article we will look at the rules and these potential benefits.
LV= Blended approach can ease pensioners drawdown and volatility fears
Research from investment, protection and retirement specialist LV= highlights how millions of people are worried about stock market volatility and running out of money in retirement.
Lifetime Allowance where are we, where are we going and what to do? (90 minutes)
Spring Budget 2023 has meant a seismic change on the pension tax landscape with the intention to remove Lifetime Allowance charges in 2023/24, then completely abolish the Lifetime Allowance from 2024/25.
Wealth and Wellbeing Research Programme
The purpose of the LV= Wealth and Wellbeing Monitor is to provide you with a clear picture of peoples retirement plans as well as their financial and mental health.
Considerations around pension contributions
Paul Squirrell, Fidelity Adviser Solutions pension expert, runs through many of the considerations relating to pension contributions at tax year end. This includes the annual allowance and how tax relief is applied across the various types of contribution, tapered annual allowance, carry forward rules, MPAA and the tax charge.
Prudental: My business is my pension. Really?
Should your business be your pension? How do you plan for your current and future needs? And what do national insurance, dividend tax and corporation tax changes mean for advice to your Small and Medium Sized Enterprise (SME) clients.
Prudental: Slash the cash? Should companies invest?
Companies come in all shapes and sizes, from small or medium-size businesses found in many cities across the UK, to individuals with their own personal service company which they use to contract out their services.
Bridging the gender pension gap (30 minutes)
After reading this report, you'll: Understand the background to pensions inequality in the UK Be able to explain some of the factors that can leave women at a pension savings disadvantage Have a good understanding of steps that can be taken to support women throughout their working lives with a view to saving for retirement
Maximising workplace pensions benefits (50 minutes)
In this webinar, Justin Corliss and Craig Muir, Senior Pensions Intermediary Development and Technical Managers, look at how to maximise workplace pensions benefits for scheme members, employers and advisers.
Fidelity Adviser Solutions Pension Forum: Taking PCLS after age 75
A client is approaching age 75 and still has some uncrystallised money purchase benefits remaining. What are the rules for taking Pension Commencement Lump Sum payments beyond their 75th birthday? And what is the maximum payment that can be made? Paul Squirrell, Fidelitys pension expert, considers what the rules permit.
Fidelity Adviser Solutions: Sustainable pension withdrawal rates
Identifying a sustainable withdrawal rate is crucial, given the prospect of fund exhaustion has increased due to a number of factors. The 4% rule seemed a simple, safe way to ensure income lasts a lifetime, but times have changed.
Fidelity Adviser Solutions: Considerations around the State Pension
The State Pension is an important consideration when managing a clients retirement income. However, entitlement and the amount due depends on a number of client-specific factors.
Fidelity Adviser Solutions: Challenges and strategies for income in retirement
The introduction of unfettered drawdown means planning an income in retirement is far from straightforward and identifying a sustainable withdrawal rate is crucial given the prospect of fund exhaustion has increased. Fidelity's Paul Richards and Paul Squirrell discuss important areas when considering retirement income.
Royal London: Maximising workplace pension benefits
In this webinar, Justin Corliss and Craig Muir, Senior Pensions Intermediary Development and Technical Managers, look at how to maximise workplace pensions benefits for scheme members, employers and advisers.
BNY Mellon: New UK pension blow on RPI change
A UK High Court decision to dismiss a judicial review of plans by the government and UK Statistics Authority to align the Retail Prices Index (RPI) with the housing cost-based version of the Consumer Prices Index (CPI) could see pension transfer values slashed and lifetime incomes fall by 10-15%,
The new State Pension buy now while stocks last?
The State Pension provides a guaranteed, index-linked income and so its essential that clients maximise this benefit, where possible. If there are any gaps in their NI record, they may be able to pay voluntary contributions in order to boost their entitlement. Many individuals can currently fill gaps going right back to April 2006 normally you can only do this for the previous six years. This window of opportunity closes at the end of this tax year.
Fidelity Adviser Solutions: Pensions, retirement and tax planning for advisers
We've now launched the ability for you to do automated regular crystallisations which can be set up, tracked and managed online, with the option to pay regular (monthly, quarterly, half yearly or annually on the 10th or 25th of the month) PCLS only or combined with regular taxable income.
Fidelity Adviser Solutions: The new State Pension buy now while stocks last?
The State Pension provides a guaranteed, index-linked income and so its essential that clients maximise this benefit, where possible.
Fidelity Adviser Solutions: Client getting divorced? Dont let them forget their pension
Since the introduction of DIY divorces, the number of pension sharing order applications has fallen sharply. The concern is that individuals, particularly women, could be worse off if they go down the DIY route. Why are pension sharing orders so important and why should clients ensure their pension pots are part of any divorce settlement?
Fidelity Adviser Solutions: The annual allowance charge and Scheme Pays requests
Fidelity Adviser Solutions take a step-by-step approach to calculating clients annual allowance charges and explain the two types of Scheme Pays, mandatory and voluntary. They also run through the process and deadlines for Voluntary Scheme Payments with their Pension.
Fidelity Adviser Solutions: The annual allowance charge and Scheme Pays requests
Paul Squirrell, Fidelity Adviser Solutions pension expert, takes a step-by-step approach to calculating clients' annual allowance charges and explains the two types of Scheme Pays, Mandatory and Voluntary. He also runs through the process and deadlines for Voluntary Scheme Payments with Fidelitys Pension.
Canada Life: A flexible solution for a changing world
The Retirement Account can help prepare your clients for their whole retirement, whatever the future brings
Fidelity Adviser Solutions: Employers contributions and PCLS recycling rules
Fidelity Adviser Solutions pension expert, Paul Squirrell, runs through a case study on whether Pension Commencement Lump Sum (PCLS) recycling rules only apply for personal contributions. In other words, are employer contributions excluded for PCLS recycling purposes? For further information go to your Pension Forum.
Fidelity Adviser Solutions: Scheme Specific PCLS greater than 25%
Fidelity Adviser Solutions pension expert, Paul Squirrell, runs through a case study where a client has a Scheme Specific PCLS greater than 25% and the total pension benefits that will come into payment exceed their available LTA. What will the maximum allowable PCLS therefore be?
Planning for age 75 (60 minutes)
When it comes to pensions, reaching age 75 is an important milestone and for many this is a vital time for financial advice. It is therefore important to plan for this event in advance
Pension business owner webinar (60 minutes)
In this webinar, Clare Moffat and Fiona Hanrahan highlight the rise in business owners and discuss some of the implications in terms of the need for financial planning.
My business is my pension. Really? (1 hour 33 mins)
Should your business be your pension? How do you plan for your current and future needs? And what do national insurance, dividend tax and corporation tax changes mean for advice to your Small and Medium Sized Enterprise (SME) clients.
The Pension Forum: helping build your technical knowledge
The rules relating to pensions can be incredibly confusing given the complexity of the Pensions Tax Manual.
Fidelity Adviser Solutions: The annual allowance charge and Scheme Pays requests
Fidelity Adviser Solutions take a step-by-step approach to calculating clients annual allowance charges and explain the two types of Scheme Pays, mandatory and voluntary. They also run through the process and deadlines for Voluntary Scheme Payments with their Pension.
Fidelity Adviser Solutions : Lifetime allowance making sure you have the correct allowance
Paul Squirrell, our pension expert, discusses some important considerations around the initial phase of LTA planning, on establishing the clients individual lifetime allowance. He illustrates how good advice may mitigate any potential tax charge.
Royal London: Transfers in drawdown (60 minutes)
The introduction of Pension Freedoms in 2015 had a significant impact on the defined contribution (DC) at-retirement market. The most obvious change was an increase in the number of customers choosing to access their DC pension benefits through an income drawdown plan, instead of buying an annuity.