From wrappers to withdrawals: Ten pension freedom tips for advisers

From wrappers to withdrawals: Ten pension freedom tips for advisers

clock

Product provider Standard Life has put together ten pointers for advisers highlighting the immediate risks and opportunities in the wake of the retirement reforms introduced in April.

The life company is suggesting urgent action to ensure pension death benefits are not lost due to legacy pension contracts, and that ISA assets are transferred to pensions as clients approach retirement to benefit from tax relief. It follows the introduction of widespread pension changes on 6 April. The ten tips for advisers encompass death benefits, tax, investment solutions, due diligence, policies and controls:   1 Find out if you have clients that could miss out - review legacy pensions to understand which contracts can support new flexibilities on death; 2 Prepare to t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

QROPS in a post-LTA world: Everything advisers need to know

QROPS in a post-LTA world: Everything advisers need to know

So, what next for QROPS?

Lisa Webster
clock 15 May 2025 • 3 min read
Pension providers reaction to the Mansion House Accord

Pension providers reaction to the Mansion House Accord

Signatories point to improved outcomes for members

Jonathan Stapleton
clock 14 May 2025 • 12 min read
'Please change your language': Unengaged savers turned off by pensions speak

'Please change your language': Unengaged savers turned off by pensions speak

‘They want to know – just not in the way you are selling it’

Jenna Brown
clock 13 May 2025 • 3 min read