Up to 200,000 people will cash in their pension next year, netting the Treasury an additional £1.6bn in tax, according to research from Hargreaves Lansdown.
In this week’s quick fire RP poll we asked: Do you agree with Steve Webb's proposal that those who have purchased annuities should have the opportunity to unwind them for a capital sum?
Income drawdown looks set to grow rapidly as a result of Budget freedoms. Jenna Towler takes a look at the issues for those navigating this area without an adviser.
Other Income articles
Do advisers think the industry will be ready in time to deal with incoming Budget flexibilities? Helen Morrissey finds out in the latest Retirement Planner Inquiry.
With just months to go before the general election pensions minister Steve Webb shows no sign of slowing down. Helen Morrissey spoke to him about his plans for the future.
Complaints to the Financial Ombudsman Service (FOS) about annuities and income drawdown products have seen an uptick the since the March Budget, new figures have shown.
Pensions minister Steve Webb has put annuity reform at the top of his wish list should he remain in post after the election.
Sales at annuity provider Partnership were down more than 70% over the past three months of trading, the firm has said.
The predicted drawdown explosion post-April 2016 is an “excellent opportunity” for advisers, writes David Hughes, but can it be done without administration overload?
Old Mutual Wealth is removing the annual pension drawdown fee and scrapping the current minimum charge on its platform in order to simplify its charging structure.
Scottish Widows has launched a website dedicated to helping people understand their retirement options post-April 2015 in light of the Budget changes.
Members could be losing money because administrators are taking longer to process defined benefit (DB) pension scheme transfers, according to experts.
A third of employees think firms which offer a pension scheme should also offer access to full financial advice in the workplace, research from Scottish Widows suggests.
Is the guidance guarantee enough when it comes to drawdown? Austin Broad thinks not…
George Osborne’s latest pensions taxation policy equates to ‘a mighty big shove into drawdown’, writes Rachel Vahey…
The Chancellor’s pension revolution continued as he scrapped the 55% ‘death tax’ at the Tory Party conference, handing drawdown another advantage over annuities. Jenna Towler gauges industry reaction…
One in eight people aged over 50 has been approached by fraudsters offering early access to their pension pot, according to research from Fidelity Worldwide Investment.
The fallout for victims of pension scams will be greater than expected due to under reporting, according to the Pensions Advisory Service (TPAS).
The government should pay for the guidance guarantee’s first year of operation instead of charging the industry through a levy, according to MGM Advantage.
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