Latest Blogs
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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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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: 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.
Popular News
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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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Alltrust launches sophisticated investor SIPP
Pension trustee and administration specialist Alltrust has launched a premium self-invested pension designed for high-net-worth individuals, experienced investors and the IFAs and wealth managers who advise them.
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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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Sheffield wealth manager fails after pension claims
Sheffield wealth manager Green Wealth Management Limited (FRN: 729066) has been declared in default by the Financial Services Compensation Scheme after being unable to meet claims against it.
Pension transfer values - as measured by the XPS Pensions Group Transfer Value Index - fluctuated “mildly” during June 2018 with a small fall during the month, says the firm.
The index was £234,000 at the end of May and £233,000 at the end of June.
The difference between maximum and minimum readings of the Transfer Value Index over June was £4,400 (or around 1.9%).
The index tracks the transfer value that would be provided by an example DB scheme to a member aged 64 who is currently entitled to a pension of £10,000 each year starting at age 65 (increasing each year in line with inflation).
XPS points out that different schemes calculate transfer values in different ways so a given individual may therefore receive a transfer value from their scheme that is “significantly different” from that quoted by the index.
Sankar Mahalingham, head of DB Growth, XPS Pensions Group, said: “Transfer values have been stable over the first half of 2018, during which the Index has fluctuated by only £8,300 (or around 3.6%).
“If we compare this to 2017, when in both halves of the year the index fluctuated by £14,000 (or around 6%), we can see that although transfer values remain close to historic highs in 2018, there has been a notable reduction in volatility.
“Given the recent UK political upheaval and its potential impact on the approach to Brexit, coupled with the changing global political climate (for instance in relation to possible escalation of trade wars), it remains to be seen whether this low volatility in markets and transfer values will continue over the coming months.”
XPS Pensions Group claims to be the largest pure pensions consultancy in the UK, specialising in pensions actuarial, investment consulting and administration, with revenues of over £110 million. The parent company is also a significant SIPP provider.
The company works with over 1,200 pension schemes, including 25 with over £1bn of assets, and undertakes pensions administration for over 600,000 scheme members.