The FCA has today published a discussion paper on intergenerational financial differences, exploring the changing financial needs of consumers from different age groups.
It has recently been announced that divorce laws will be changing.
Fears of a Halloween Brexit horror story for pensions have been raised by AJ Bell.
Thousands of pension savers have breached lifetime allowance ‘protections’ in the past 12 years, potentially landing themselves with tax bills running into hundreds of thousands of pounds.
It seems a long time since we had an annual allowance (AA) of £255,000. These days most pension savers are restricted to £40,000, but the money purchase annual allowance (MPAA) and the horribly complex tapered annual allowance (TAA) impose significant further restrictions for many. HMRC’s pension contribution statistics for 2016-17 tax year give us the first indication of the impact of the tapered annual allowance, and it’s not pretty.
AJ Bell has launched two new income funds, each targeting an annual yield of 4% but with two different risk profiles and growth objectives.
Automatic enrolment (AE) has, by and large, been a success story. Opt outs have been fewer than predicted and the 10 millionth employee has been auto-enrolled, according to figures recently released by The Pensions Regulator (TPR). It’s also been good to see TPR getting their teeth into a few unscrupulous employers that have flouted the rules to show they mean business.
A recently-published court ruling could open HMRC up to new claims from investors who accidentally lose lifetime allowance ‘protection’ by forgetting to stop paying contributions to their schemes.
It’s the time of year when all good advisers will be talking to their clients about making the most of any unused allowances, and this will often include using the annual allowance (AA) for pension contributions. But are there times when the advice should actually be NOT to use it?
Experts have hailed the onset of a ban on pensions cold calling which came into force today.
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