Latest Blogs
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Tilley: Will IHT reforms really threaten pension saving?
The Government’s decision to bring most unused pension funds and lump sum death benefits within the scope of inheritance tax (IHT) from 6 April 2027 has provoked widespread criticism from across the pensions industry. Providers, advisers and trade bodies have warned that the change risks undermining confidence in pension saving and damaging long term retirement provision.
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Lisa Webster: Charity giving from pensions
I’m sure many of you reading this on SIPPs Professional will have had more than a few conversations with clients about estate planning – especially considering the news that pensions are to be included in the value of the estate for IHT purposes from April 2027.
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Lisa Webster: Salary sacrifice cap will hit some hard
The headline story from Budget 2025 - in the pension world at least - was the plan to cap National Insurance relief for pension contributions paid through salary sacrifice at £2,000 a year.
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Tilley: Rebooting the FOS makes sense
I’ve written before about the lack of coherence in the UK’s pension complaints landscape and it remains a source of real frustration for those of us working in the sector.
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Lisa Webster: Pension age uncertainty lingers on
We’ve known for many years that normal minimum pension age, NMPA it's known, is going up.
Popular News
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Pension professionals concerned about dashboard handling
Pension professionals are concerned about the industry’s capacity to handle Pensions Dashboards queries.
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Aptia acquires Mercer’s Pension Decision Service
Pensions administrator Aptia has acquired Pension Decision Service from Mercer for an undisclosed amount.
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Pensions industry urged to protect savers from scams
Fraud Minister Lord Hanson has urged pension trustees to do all they can to protect millions of scheme members from fraudsters.
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Lisa Webster: Beware IHT and pensions double taxation
One of the most disliked aspects of bringing pensions into the estate for inheritance tax (IHT) purposes from 6 April 2027 is the double taxation that will occur when the member dies on or after their 75th birthday.
The Financial Services Compensation Scheme (FSCS) is now open to claims against Berkeley Burke SIPP Administration Limited (BBSAL).
Scottish Widows has appointed Graeme Bold as director of workplace pensions.
AJ Bell has launched a retirement income solution to help financial advisers manage clients taking income in retirement.
The Aegon Master Trust has received authorisation from the Pensions Regulator (TPR).
The authorisation process is aimed at raising master trust standards in a fast growing area of the workplace pension market by “a thorough examination of scheme’s capabilities in areas such as their systems and processes, financial sustainability and fit and proper requirements for those exerting control over master trusts”.
Following authorisation, master trusts will need to have business plans, continuity strategies and access to ring-fenced assets to protect members’ benefits should a trust be wound up.
Aegon’s master trust was acquired as part of the acquisition of BlackRock’s Defined Contribution and administration business.
The master trust formally became Aegon Master Trust (AMT) in July 2018 and is a growing part of Aegon’s workplace business.
The Aegon Master Trust has £1.5bn total assets under management (AUM), more than 100,000 members and over 85 participating employers.
Ian Pittaway, chair of Aegon Master Trust said: “The Trustees of the Aegon Master Trust are absolutely delighted that Aegon’s commitment to the master trust has been recognised through gaining authorisation.
“I look forward to the continued progress in this market, and the Aegon Master Trust playing its part.
“I am sure there are lots of exciting developments ahead which will improve the financial outcomes for members.”
Kate Smith, head of Master Trust at Aegon UK, is responsible for leading the development of Aegon’s master trust proposition including the authorisation process.
She said: “It’s been exciting to see how the new and improved master trusts market has been shaping up over the last few months and we are delighted that the Aegon Master Trust has joined the line-up of those authorised.
“Raised standards among master trusts means greater protection for members of all master trusts, something I have been calling for over many years.
“As supervision starts to kick in master trust standards will have to continue to be maintained to retain authorisation.”
She added: “As confidence in the master trusts market continues to grow, we look forward to working with more employers in the future and supporting members on their journey to retirement and beyond.”