Retirement

POST A-day funding rules have given the tax-year end a new significance when advising on pensions, according to Skandia.

The government will continue to delay a decision on the treatment of protected rights, despite consultation responses suggesting all parts of the industry agree the restrictions should be removed.

The Pensions Management Institute (PMI) has elected a new president to take over from Penny Green following its AGM in July.

Lord Turner was either naïve or misleading when he suggested a charge of around 0.3% was possible on personal accounts as they cannot be delivered at a cost of less than 1% annual management charge, claims Standard Life.

We are now well into March and as usual everyone's thoughts are turning towards the Budget, with many looking into their crystal balls to try and predict what surprises and u-turns the Chancellor will spring on us next Wednesday.

Independent financial advice is an "essential step" for pension trustees when negotiating deficit recovery plans, or in the event of acquisitions or disposals by a sponsoring employer, says Paul Thornton.

John Hutton, Secretary of State for Work and Pensions has dismissed fears the private sector is not the "natural area of society or the economy" to run personal accounts.

The Secretary of State for Work and Pensions John Hutton has confirmed he has reconsidered the proposals to cap contributions in personal accounts at £5,000.

Proposals put forward in a consultation paper on the rolling deregulatory review of defined benefit pensions could see pensioners income fall by around 30% in the next 10 years, warns Standard Life.

Most IFAs say yes but, worringly for the regulator, the majority also say it is having very little impact on the way they operate.