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Latest Columns

  • 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.

  • 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.

  • Tilley: Are we asking too much of pension savers?

    Working in UK pensions, I’ve always accepted that the system evolves. Fiscal pressures change, demographics shift, and governments recalibrate policy objectives. But even allowing for that, the pace and volume of legislative change in the pensions space over the last few years feels unprecedented, and in my view increasingly problematic.

  • 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.

  • Lisa Webster: Should tax-free cash always be taken?

    Since the Lifetime Allowance was abolished and replaced with the Lump Sum Allowance (LSA) and lump sum and death benefit allowance (LSDBA), we have seen an increase in SIPP members who want to take drawdown only – foregoing the right to take the associated pension commencement lump sum (PCLS).

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Police have raided four homes and businesses as part of an investigation into “poorly-run pension schemes suspected of links to cold-calling”.

The founder of a SIPP firm has predicted ‘casualties’ within the Sipps market in coming months.

National Financial Planner and retirement specialist LEBC has backed the Work & Pensions Select Committee’s call for a ban on contingent charging for pension transfer advice.

MPs call on FCA to ban contingent fees on DB pension transfers and establish an easy-to-use online register of pensions advice firms, MPs have demanded.

A judge has ruled in favour of allowing investors to pursue group legal action against a SIPP firm over claims of mis-selling.

The latest figures on pension transfer values, released this morning, showed a fall last month.

The Xafinity Transfer Value Index fell steadily from £236,000 at the end of December to £231,000 at the end of January.

Sankar Mahalingham, head of DB growth at Xafinity Punter Southall, said: “Increases in gilt yields have been the main driver, with inflation remaining relatively stable.”

Graph below courtesy of Xafinity
Screen Shot 2018-02-12 at 09.38.10.png

Screen Shot 2018 02 12 at 09.38.10

The difference between maximum and minimum readings of the index over January 2018 was £6,000 or around 2.4%, Xafinity said in a statement.

The Xafinity Transfer Value 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).

Different schemes calculate transfer values in different ways. A given individual may therefore receive a transfer value from their scheme that is significantly different from that quoted by the Xafinity Transfer Value Index.

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