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...
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