Investment

Actuary AJ Bell has sounded a warning about proposals in the Finance Bill on gearing levels for SIPPs once the new pensions regime starts on A-Day April 2006.

Trustees could find themselves having to foot hefty compensation bills if they fail to ensure they have dealt with ALL the beneficiaries of a SIPP properly, warns SIPPs provider D A Phillips & Co.

A single Citizen's Pension should replace the current troika of basic and second state pensions and the pension credit, according to proposals from a working group set up by the National Association of Pension Funds

Abbey for Intermediaries has developed a pension simplification pack for IFAs in the hopes it will help them ensure clients are well-prepared for coming pensions legislation.

Comments from IFAs and others present at this weekend's PIMS 2004 conference suggest a basic lack of suitably qualified advisers could scupper the government's pensions reforms - yet, also create more business for IFAs.

Most trustees of small occupational pension schemes have had no training at all despite pending pension legislation require them to at least be familiar with the issues they deal with, says the Occupational Pensions Regulatory Authority.

The Finance Bill has closed a tax loophole in pending pensions legislation, which could have lump sums paid out without being subject to a tax charge, says Abbey for Intermediaries.

One in five people will never get a pension if the government raises the retirement age to 70 because they will be dead before then the TUC says in new pensions research.

Abbey for Intermediaries warns in a technical note on pensions that rule changes implemented under the regime coming into effect next April could pose trouble in cases of fragmented transfers.

Government proposals for combined pension statements to enable people to make informed choices will prove "pointless" as information on the Pensions Credit will be excluded, a pension expert suggests.