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1 month ago | 
moneymarketing.co.uk | Adrian Boulding |Darius McQuaid |Caitlin Southall
A new Pensions Bill is expected to be introduced in Parliament in the coming weeks. It promises to be substantial in scope, and one of its key provisions will be the introduction of Guided Retirement legislation for certain individuals as they approach the point of vesting their pension plans. The new rules will place a duty on trustees of defined contribution occupational pension schemes to identify and offer suitable retirement income products to members nearing retirement.
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1 month ago | 
moneymarketing.co.uk | Matt Storey |Caitlin Southall |Darius McQuaid
It’s hard to believe it’s been a decade since pension freedoms landed, giving individuals greater flexibility around accessing their DC pension savings from age 55. At the 2014 Spring Budget, then chancellor George Osborne sent shockwaves through the pensions sector as he announced fundamental reforms.
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1 month ago | 
moneymarketing.co.uk | Tom Selby |Caitlin Southall |David Ferguson |Darius McQuaid
Chancellor Rachel Reeves and pensions minister Torsten Bell make for unlikely Mafia bosses, but there was something a bit Vito Corleone about the reported threat from officials to mandate UK investment from pension schemes if they didn’t ‘voluntarily’ bend to the government’s will.
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1 month ago | 
moneymarketing.co.uk | Tom Browne |Caitlin Southall |Darius McQuaid
Seventeen of the UK’s largest workplace pension providers have committed to invest at least 10% of their defined contribution (DC) default funds in private markets by 2030, with half of that (5%) earmarked for UK assets. The move, under the newly launched Mansion House Accord, builds on last year’s Mansion House Compact and is being led by the Association of British Insurers (ABI), the Pensions and Lifetime Savings Association (PLSA) and the City of London Corporation.
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1 month ago | 
moneymarketing.co.uk | Darius McQuaid |Kimberley Dondo |Caitlin Southall
Retirees target pension pot would only last for 11 years according to a report by Retirement Review. The report showed the average personal target pension pot for retirement is £253,701.40 which would likely provide a target income of £30,050.20 for just 11 yearsAdditionally, the average age respondents expected to retire was 65.7 years. A third of consumers are still unsure of both their current pension pot size and their target savings for retirement.
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1 month ago | 
moneymarketing.co.uk | Tom Browne |Robin Powell |Darius McQuaid |Caitlin Southall
Financial advisers must help clients respond to some of the most significant inheritance tax (IHT) changes in recent years. This was the message from Paul Rose, key partnerships manager at Octopus Investments, who delivered the keynote plenary ‘Estate Planning Moving Forward: Taking the Next Steps in Untangling Inheritance Tax’ at MMI Leeds today (8 May).
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1 month ago | 
moneymarketing.co.uk | Momodou Musa Touray |Darius McQuaid |Caitlin Southall
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1 month ago | 
moneymarketing.co.uk | Caitlin Southall |Darius McQuaid
The Government’s decision to bring pensions into scope for Inheritance Tax (IHT) has, quite rightly, become a hot topic in recent months. While I’ve seen arguments on both sides, the overriding sentiment seems to be that — regardless of whether one agrees with the principle — the proposed implementation is overly complex.
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Feb 4, 2025 | 
moneymarketing.co.uk | Caitlin Southall |Darius McQuaid |Momodou Musa Touray
As I think everyone in the pensions sector knows, I have been a huge advocate of the self-invested sector for decades, due to the flexibility of investments and tax advantages. SSASs also offer a useful tool to the new Government in respect of their well-publicised growth aspirations. After all, it’s a solution that has the opportunity to support retirement saving as well as offering investment into small- and medium-sized businesses.
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Jan 1, 2025 | 
moneymarketing.co.uk | Caitlin Southall
As we welcome in 2025 and look ahead at the year, the landscape for pensions is set to be dominated by significant changes coming from reviews and consultations. Here are some of the key changes expected – but, as we all know, this could be just the start. Inheritance taxThe challenges posed by the recent proposals to inheritance tax (IHT) and pensions are well known, and they are unlikely to dissipate with the first draft of the new legislation.
