A loophole in A-Day regulations enables scheme members to claim their 25pc tax-free cash lump sum twice under the same pension, Aegon Scottish Equitable says.
The financial services giant says HM Revenue & Customs confirmed it was possible to claim additional tax-free cash when a deferred pension was started – even if a tax-free cash lump sum had been taken...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.