Pensions freedom: Six stats from the first six months
Four out of five cash lump sums paid out to under 65s
Pensions freedom is six months old - to mark the occasion the Association of British Insurers (ABI) has released its six top facts to emerge from the reforms.
On 6 April, pensions freedom and choice gave over 55s unprecedented access to their defined contribution pension funds. People can now release funds subject to normal rates of tax and are no longer...
More on Defined Contribution
New TPR powers could lead to upsurge in clearance applications
The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.
Pension Schemes Bill gets final approval and waits for Royal Assent
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
FCA data reveals over £20bn of DB transfers between 2018 and 2020
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
PensionBee launches flexible offering for self-employed
Online provider Pension Bee has created a flexible pension for self-employed savers, allowing them to make contributions according to their income.
Trustees will need to be corporate finance experts under new TPR powers
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
