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Wealth Management News

News in 2014
31 Dec 2014 Altmann: Government Should Introduce ‘Pre-Retirement´

Pensions expert and campaigner for older workers Ros Altmann has suggested that the UK government needs to radically rethink retirement in the New Year, the FT Adviser reports. Altmann feels that 2015 should mark a change in the way that retirement is dealt with, including the introduct...

24 Dec 2014 Labour: Pension Reforms Are Bewildering

A recent study has revealed that people are wrongly expecting to be better off in their retirement as a result of the new pension reforms, causing some to say that they have been ‘over-hyped´, the Financial Times reports. As of April 2016, a ‘single-tier´ pension of £15...

17 Dec 2014 Insufficient Competition In Retirement Market, Study Shows

The latest research shows that many consumers are not shopping around when it comes to getting a good annuity deal – and it seems this is due to a lack of competition in the retirement market, Employee Benefits reports. The Financial Conduct Authority (FCA) recently conducted its Reti...

10 Dec 2014 Avoid These Five Pension Pitfalls

The new pension freedoms announced in the Budget marked an important turning point for savers, suggesting more choice about how and when they can access their money than ever before. But while the full details of the changes are still under consideration, it´s worth bearing in min...

03 Dec 2014 MPs Predict The Extinction Of The State Pension In 30 Years

According to the latest research, more than one in six MPs believe that the state pension will be non-existent in 30 years´ time, The Telegraph reports. The NOW: Pensions online survey questioned 100 MPs from varying parties about their thoughts on the state pension, and whether i...

26 Nov 2014 Charges Will Shave 27% Off New ‘Flexible´ Pensions

Savers are being warned that next year´s new flexible pensions could leave them with less than expected, due to losing more than a quarter of their money to fees, the Telegraph reports. As of April 2015, those over 55 will have full access to their pension pots and will be able to...

19 Nov 2014 Just 6% Of UK Workers On Track For Retirement Income

New research reveals that a mere 6% of UK employees look set to achieve their desired retirement income, Employee Benefits reports. Despite the recent pension reforms bringing a lot of attention to the issue, Aegon´s ‘UK Readiness Report´ - the second of its kind - found t...

12 Nov 2014 New Pension Ruling “Unworkable” For The Less Wealthy

The Government´s plans to impose fines of up to £300 on savers who access their pensions like a bank account have been deemed “unfair” and “unworkable” by a leading pension expert, the Financial Times reported recently. The legislation is just one element of chancellor Ge...

05 Nov 2014 IMA Proposes Standards for Pension Investment Governance

The Investment Management Association (IMA) has recently proposed a set of quality standards for investment governance processes, which can be applied to investment strategies of defined contribution pension schemes, the Investment Funds website reports. The aim of these standards is to...

29 Oct 2014 Rates On Annuities Reducing Pension Pots Further

Retirees who buy annuity today will get, on average, £2,058 less over the duration of their retirement than if they had cashed in their savings before the recently announced pension reforms, This Is Money reports. Rates on annuities have dropped since the pension changes announced in t...

22 Oct 2014 Britons Headed Towards ‘Impoverished Retirement´, Study Shows

New research shows that at the current rate of saving, millions of UK pension pots will only be able to support retirement income for five years, Economic Voice reports. According to the year-long ‘Savings Gap´ study conducted by True Potential, the average Briton reported that ...

15 Oct 2014 Post-Budget: Over 55s Aren´t Changing Their Retirement Plans

The last budget saw the biggest ever shake-up of the UK pension system; but despite this, Money Facts reports that the majority of over-55s are still planning to stick with their pre-budget retirement plans. According to Aviva´s latest Quarterly Tracker, the new pension freedoms a...

08 Oct 2014 Pensions Minister: ‘Decade Of Innovation´ For Pensions

Pensions minister Steve Webb recently stated that the pensions and retirement industry is facing a “decade of innovation,” starting with the changes due to take place next April, Money Marketing reports. As of April 2015, those aged 55 and over will be able to access their pension f...

01 Oct 2014 Experts Recommend A Mixed Retirement Solution

There are a number of new pension options due to begin next year; but according to an article on Money Facts, retirees should consider adopting a mix of solutions in their retirement plans. With more choice – and freedom – than ever before, those approaching their retirement will al...

29 Sep 2014 Bosses Urged To Take Better Care Of Employees´ Eye Health

New research reveals that over half of UK employees (53%) feel that their working environment has a negative impact on their vision and eye health, an article on The HR Director reports. The findings come from a survey conducted by health insurance company Westfield Health, which questi...

24 Sep 2014 1 In 3 UK Workers Delaying Retirement

New research reveals that thousands of working people in the UK have had to put off their retirement in the last five years, an article on Staffing Industry reports. Conducted by Saga, the report surveyed 9,000 workers aged 50-59 and found that an increasing amount of older workers are ...

17 Sep 2014 Common Estate-Planning Mistakes - And How To Avoid Them

Most people realise that they need to prepare their affairs for when they´re no longer here; but so many put off doing so. Although it´s not a pleasant task, estate planning is essential if you want to leave your assets in the best hands, and avoid any debate between family members ...

10 Sep 2014 EU: Britons Take Pensions Earliest In Europe, But Work Longer

New EU data reveals that Britons access their pensions earlier than people in the rest of Europe – but that we continue working into an older age, The Telegraph reports. Conducted by The European Commission, the research shows that the average Briton took their pensions at age 58; but...

03 Sep 2014 New ‘Super Isa´ Triggers £5bn Boom In Savings

The recent launch of Nisas - or ‘Super Isas´ - has seen almost as much money being invested in one month than in the previous six months, according to an article on The Telegraph website. With savers taking advantage of the new £15,000 tax-free limit, figures from the British B...

28 Aug 2014 How Women Can Boost Their Pension Savings By 20%

Recent changes to state pension rules have severely impacted a generation of millions of working women, so it comes as good news that This Is Money recently reported a loophole allowing women due to retire before April 2016 to increase their retirement income by 20%. Existing rules rewa...

21 Aug 2014 Inheritance Tax Revenues Will Rise to £5.8bn by 2019 Tax Year – Plan Ahead

Over the next five years, almost a quarter of a million deaths will result in Inheritance Tax (IHT) liabilities for those who benefit from a relation´s legacy, according to June figures from the Office of Budget Responsibility (OBR). Reported by the Financial Times, after sufferin...

13 Aug 2014 Many Unaware Of New ISA Rules

New ISA Rules were put into place by the government over a month ago, with high hopes of invigorating the savings market. However, many savers seem to be unaware of these changes, and providers aren´t doing enough to either inform or entice them to save up to the new £15,000 limit, warns...

06 Aug 2014 Over 55s Charged Exit Fee To Access Pensions

Chancellor of the Exchequer George Osborne has been commended for his recent pension reforms, which allow people aged 55 and over to legally access their pension funds without having to buy annuity. However, according to The Telegraph´s senior political correspondent Christopher Hope, som...

30 Jul 2014 Government Announces Plans For Free Retirement Advice

Free, impartial advice about pensions and retirement plans will soon be available to those who have reached or are approaching retirement, reports an article on moneyfacts.co.uk. The government recently announced that the service, provided by independent organisations such as The Pensio...

23 Jul 2014 UK Savers

Saving for retirement is increasingly important for British employees, but it may already be too late for them to secure an adequate income in their later life, according to pension provider Liberty SIPP. In fact, recent research by the firm suggested that in order to retire at 65 with an incom...

02 Jul 2014 New ISA Rules And What You Need To Know

New rules governing individual savings accounts (ISAs) came into force on the 1st of July, turning all existing accounts into New ISAs (NISAs). Under the new rules, savers have the option to save more money tax-free, and can choose between saving hard cash or making investments. ...

04 Jun 2014 Experts Predict Bright Future For SIPPs Market

The changes to the UK pensions system that Chancellor George Osborne announced during this year´s Budget are predicted to have a positive effect on the SIPP market, according to industry experts, quoted by the FTAdviser. Rules due to come into effect in April next year will allow ...

28 May 2014 Britons Missing Out On £4.3bn In Potential Savings In Poor-Value Accounts

About three in four Britons think banks fail to do their best to ensure savers get a good deal and more than a third say they have never moved their accounts because there would be no point, according to a new survey from consumer group Which?. This failure to find the best deal results in UK c...

21 May 2014 FCA Calls For Transparency Of Fund Management Charges

The Financial Conduct Authority (FCA) has warned fund management firms that deliberately conceal information regarding charges and prevent investors from choosing the best investments not to engage in these practices. Results from a review conducted by the City regulator revealed that fund mana...

14 May 2014 FCA Warns Firms Over SIPP Advice Failings

The Financial Conduct Authority (FCA) has issued a warning to advisers that encourage their clients to invest in self-invested personal pensions (SIPPs), without taking into consideration whether this is the most suitable option for them. The warning also addresses the practice of some advisers...

30 Apr 2014 Britons Save £57bn In ISAs In 2013

Britons saved a total of £57 billion in individual savings accounts (ISAs) in 2012/2013. This marks a record in the combined amount of savings and highlights their growing success following the introduction of a higher allowance in 2008/2009. Data released by HM Revenue & Customs (HMRC...

23 Apr 2014 Maximising Pension Savings: Things You Need To Know

At a time when the UK´s pension system is going through serious reforms, making sure that you have secured the best retirement income is essential. There are a number of steps that can be taken to boost retirement income but the most critical of them is to keep saving. The best th...

09 Apr 2014 Will Pension Reforms Revolutionise UK´s SIPP Market?

The reforms to the UK pension system that Chancellor George Osborne announced in the March budget are expected to have a serious impact on pension savings. The question of how they could affect individuals saving in self-invested personal pensions (SIPPs) is not yet clear but FTAdviser has shed...

02 Apr 2014 Investors Keep £135bn In Sipps, Survey Reveals

Self-invested personal pensions (Sipps) have been on the market for 25 years now and during this time, the option to invest your pension savings into assets of your choice has grown immensely. According to figures quoted by the FT Adviser, over the past year alone, more than 115,000 new...

19 Mar 2014 Commercial Property Investment Trusts Expected To See Strong Performance In 2014

Over the past few months, investment specialists have been talking about commercial property as potentially high-profit, low-risk investments. That is why investment experts predict that commercial property real estate investment trusts (REITs) are likely to become more popular in the UK this y...

12 Mar 2014 54% Of Britons Plan To Save Into ISAs In 2014

Although individual savings accounts (ISAs) are still the most popular savings option, the number of Brits planning to put their money into ISAs this year has dropped. The main reason for this, experts say, is that many are put off by low interest rates, among other financial concerns. ...

29 Jan 2014 With Fewer New ISAs, Savers Could Turn To P2P Lending

So far in January, only 27 new ISAs have been launched by banks, a figure significantly lower than that for December 2012, when there were 73 new ISAs for savers to choose from. The figures look especially bad since this is the peak of the ISA season when banks should be doing their best to att...

23 Jan 2014 Savers Advised To Make Arrangements To Avoid 55% Tax As Lifetime Allowance Introduction Nears

The introduction of a cap on lifetime allowance at £1.25 million is due on 6 April, so pension savers with pension pots over that amount have been advised to arrange matters in such a way as to avoid paying a tax charge of 55% for sums above £1.25 million. Currently the maximum lifetime allow...

15 Jan 2014 Investors Advised To Focus On Commercial Property

Investors should focus on commercial property in 2014, as industry experts predict that commercial property funds will deliver solid returns on investments, reaching a double-digit value. Private investors should realise the potential of the sector, with UK commercial property particula...

06 Jan 2014 Economic Recovery Set To Bring About Pension Boost

As most economists agree that the British economy is heading towards recovery and growth, pension funds are set to benefit as well, with those about to retire and buy an annuity profiting the most, the Daily Express reported. Thanks to satisfactory performance in 2013 on the part of blu...

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