Tom Selby
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.
Workplace schemes mandated to 'nudge' members into pensions guidance
Occupational pensions schemes will be required to direct savers to take guidance on pension withdrawals under new provisions to boost engagement.
A Covid-19 tax relief raid could exacerbate generational pensions divide
With rumours once again swirling around the future of pensions tax relief in the run up to this year's Budget, any reduced incentive for long-term savers could risk further exacerbating the generational divide in pensions, says Tom Selby
Pension transfers central in £30m worth of scam losses since 2017
Complaints filed with ActionFraud show a total of £30.8m has been lost to pension scammers in the last three years, say The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA).
RPI reform to cost schemes and investors up to £130bn
Potential changes to the way the Retail Prices Index (RPI) is calculated and reported could cause assets to fall by between £60bn and £130bn, according to various estimates.
Government announces March Budget
HM Treasury has confirmed that the government will hold its Budget on 11 March.
Life expectancy grows but slowdown in improvements continues
British people born between 2016 and 2018 are expected to live up to 4.2 weeks longer than those born in the 2015-17 period, according to the Office for National Statistics (ONS).
Investment fraud reports surge to more than 8,000 so far this year
More than 8,000 investment fraud reports have been made so far this year, more than double the amount in the same period last year, a Freedom of Information request has revealed.
Pension participation rises to 87% of eligible workers
AE has had 'truly staggering' impact
HMRC ditches appeal over lifetime allowance breach
Accidental breaches of lifetime allowance fixed protections could no longer result in onerous tax bills after HM Revenue and Customs (HMRC) dropped its appeal of a landmark case.
SFGB renamed Money and Pensions Service
The Single Financial Guidance Body (SFGB) will be rebranded as the 'Money and Pensions Service', the government has announced.
Savers overtaxed £400m by HMRC on pension freedoms
HM Revenue and Customs (HMRC) has taken over £400m too much in tax from savers accessing their pensions since the introduction of Freedom and Choice in 2015.
Net pay issue to widen as AE lower earnings limit rise confirmed
Low earners in net-pay schemes will lose out on more pensions tax relief as the gap between auto-enrolment (AE) qualifying earnings and the personal tax allowance widens.
Four fifths of LISA users also save into workplace pensions
The Lifetime ISA (LISA) has not caused an exodus from workplace pensions as feared, research by AJ Bell finds.
HMRC pays out £38m to pension freedom users after overtaxing
HM Revenue and Customs (HMRC) has had to pay £38m to pension freedom users after more than 18,000 counts of tax overpayment were reported.
Lifetime allowance to rise to £1.05m as inflation falls to 2.4%
The lifetime allowance will rise to £1,054,800 from April next year as the Office for National Statistics (ONS) recorded inflation at 2.4% in the year to September.
Treasury rejects tax relief reform citing 'significant impact' on schemes
The government has rejected the Treasury Committee's call for fundamental and incremental changes to pensions tax relief, noting there is "no clear consensus".
Life expectancy improvements grind to a halt; Number of people aged over 90 hits record high
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Treasury delays cold-calling ban
The government has confirmed the long-awaited ban on pensions cold-calling will now be delayed until Autumn.
Pension transfers hit record £10.6bn in first quarter
Pension transfers increased to a record £10.6bn in the first quarter of this year, Office for National Statistics data reveals.
TPR to boost staff by 12% for more visible and forceful action
The Pensions Regulator has suffered what some critics call an 'annus horribilis'. James Phillips looks at how the watchdog has responded in its latest corporate plan.
£17.5bn pension freedom figure 'fails to reflect big picture'
HMRC figures published on Friday suggest almost £17.5bn has been flexibly withdrawn since the inception of pension freedoms, but that figure is not reflective of 'the bigger picture', according to one industry expert.
New retirees overly-pessimistic about life expectancy
Soon-to-be and recent retirees significantly underestimate their longevity, expecting a lower chance of survival to old age compared to official estimates, according to the Institute for Fiscal Studies (IFS).
GKN proposes to pay £160m into pension schemes as part of demerger plans
GKN has announced plans to make a cash contribution of £160m into its defined benefit (DB) pension schemes as part of demerger plans designed to fend off a hostile takeover by Melrose Industries.
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