Retirement

From October pension schemes will have to file certain information electronically, as HM Revenue & Customs says it will reject any paper returns received after the deadline.

CONSUMERS are ignoring advice from IFAs about whether SIPPs are suitable for them, according to tax specialist and accountancy firm Vantis.

In the absence of the UK Parliament providing pensions news, attention turns to the European Parliament and the Committee of Inquiry into the collapse of Equitable Life.

Vantis claims self -invested personal pensions could lead to mis-buying rather than become the next mis-selling scandal predicted by some IFAs.

A draft report criticising the ‘light touch' UK regulatory regime over the Equitable Life collapse is being undermined by a lack of support from Labour Committee members, claims a Conservative MEP.

SIPP providers have cut fees by 13pc in the last year because of increasing competition from rivals, data research company Defaqto said.

ZURICH has enhanced its pension drawdown plan, adding a new protected rights drawdown facility, new SIPP and nil income enhancement.

Overcautious advice is preventing pension scheme trustees from making important rule changes to their schemes, claims First Actuarial.

The latest instalment of the online ‘ Trustee Toolkit' covering strategic investment has been released by the Pensions Regulator.

Over 90% of IFAs believe pensions, including personal accounts, cannot be distributed in the workplace safely if generic advice is the only available option.