Scottish Life

Scottish Life's individual pensions business rose by nearly 25% in the second quarter this year, boosted by sales of annual premiums.

Pension scheme members currently eligible to more than 25% tax-free cash risk losing out if they transfer to another pension arrangement post A-day, warns pensions expert Steve Bee.

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.

A majority of UK pension schemes have fewer than 11 members despite recent efforts to incentivise long-term savings, says Steve Bee after reading Opra's latest figures.

IFAs are heading towards a brighter future, suggests Steve Bee, head of pensions strategy at Scottish Life, as pension changes will give rise to plenty of advice opportunities.

Relatives of those dead for more than two years ahead of A-day could see the deceased's death benefits subject to a 40% tax charge, says Steve Bee, Scottish Life head of pensions strategy.

People opting for enhanced protection post A-day could face a £3,000 fine if they fail to tell the Inland Revenue they have swapped to primary protection, warns industry expert Steve Bee.

Directors could soon be able to contribute up to £215,000 a year each to their own or their employees' pension schemes without paying any additional tax regardless of salary, says Steve Bee.

Scottish Life has revamped its Retirement Solutions IFA support materials to try and help clients better understand the need for pension planning.

The Inland Revenue must publish the final changes to its pension simplification paper before the end of the month if A-day 2005 is to become reality, warns Steve Bee.