Retirement & Pensions
March 11, 2015
It’s a step in the right direction to see the financial services industry almost universally backing proposals by the UK’s Work and Pensions Committee for just one regulatory body to oversee pensions.
Most people in the industry are welcoming the plans for a single regulator that were again yesterday put forward by the influential group of MPs. The plans had been previously been mooted and subsequently rejected by the government back in 2013.
It’s a step
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March 4, 2015
deVere Group has recently published results of a survey which reveal that an increasing number of Britain’s over-50s are tempted by a move overseas.
This latest poll showed that 59 per cent of those surveyed have ‘seriously considered’, ‘are thinking about’, or ‘would be tempted’ to live abroad during their retirement. This is just under a 10 per cent rise on the results of the same deVere poll carried out 12 months ago.
deVere Group has
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February 24, 2015
The safety of final salary pensions has again been thrust into the limelight, with many individuals in their forties and fifties facing up to a 10 per cent reduction in their retirement incomes.
A recent article in The Telegraph highlights that five in six final of these supposedly ‘gold-plated’ schemes in the UK have fallen into difficulty and will face an uphill struggle to pay future retirees a full pension.
The safety of final salary pensions has again been thrust into
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February 5, 2015
The government’s impending ban on unfunded civil service pensions being transferred out of the UK is nothing short of a hammer blow to individuals who have served and continue to serve their country.
As from April this year, public sector workers with unfunded pension schemes will no longer be able to move them outside the UK, therefore drastically reducing important retirement options available to them.
The government’s impending ban on unfunded civil
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January 29, 2015
The government’s new pension freedoms announced in the Freedom & Choice agenda announced in the Chancellor’s 2014 Budget, are in my view, both chaotic and cynical.
As from April this year, over 55s in defined contribution schemes will be able to access their entire pension pot. This is part of one of the most drastic pensions overhauls we’ve seen for decades and, therefore, will inevitably affect the choices people make with regards to their retirement for years to
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January 19, 2015
News that Malta-based QROPS (Qualifying Recognised Overseas Pension Schemes) will benefit from the same flexibility as UK-based pensions following recent modifications to local pension regulations, should, I believe, be welcomed with open arms.
News that Malta-based QROPS (Qualifying Recognised Overseas Pension Schemes) will benefit from the same flexibility as UK-based pensions following recent modifications to local pension regulations, should, I believe, be
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January 18, 2015
The brand name of the government’s pensions guidance service announced by Chancellor George Osborne in last year’s Budget has been unveiled as ‘Pension Wise’, with the tagline ‘Your money. Your choice’. The brand name of the government’s pensions guidance service announced by Chancellor George Osborne in last year’s Budget has been unveiled as ‘Pension Wise’, with the tagline ‘Your money. Your choice’.
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September 19, 2014
The UK government is considering giving the same rights to Qualifying Recognised Overseas Pension Schemes (QROPS) as UK-based British pensions – it’s a move which I’m delighted about, and one that certainly highlights the ongoing maturity of the overseas pension transfer market.
In an HMRC statement that we received today, the tax authority says: "The Government recognises that the changes to the pensions tax rules as a result of flexibility will have
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July 21, 2014
New QROPS Rules
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The Government today announced the changes as a result of their consultation regarding pensions.
From April 2015 transfers from DB pensions to DC pensions will need to be accompanied by UK FCA licensed advisers advice. This is good news as it will only increase the quality of advice given by advisers. Schemes that are substantially underfunded will have the right to refuse transfers. This could include Police pensions and NHS pensions as these schemes are we believe substantially unfunded. Schemes have the right to apply the new rules before April if they wish
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June 27, 2014
Age UK, the charity, released a report yesterday entitled ‘Financial Resilience in Later Life’, echoing what us at deVere Group and other industry professionals have been saying for years: that pre-retirees and those already in retirement need to have regular ‘financial MOTs’ in order to enjoy their desired lifestyle throughout retirement. Age UK, the charity, released a report yesterday entitled ‘Financial Resilience in Later Life’, echoing what us at
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April 10, 2014
British expats’ state pensions remaining frozen against inflation has been the subject of much debate amongst politicians over the years.
Brits choosing to live abroad, particularly commonwealth countries, are not eligible for pension increases in line with inflation, and have therefore received the same amounts each week for several years. British expats’ state pensions remaining frozen against inflation has been the subject of much debate amongst politicians over the
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March 25, 2014
The Chancellor’s budget last week has been hailed in the media as the budget that will “reform the pensions industry”, that will “rebrand pensions for the better,” and that was “a big step forward.”
Indeed, it was a budget in which there were plenty of headline-grabbing ‘policies’. These included all restrictions on access to pension pots being removed from April next year; in which it was pledged that it would no longer be compulsory to buy an annuity;
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