News 21 May 18
Old Mutual sees 25% growth in DB pension transfers by 2028
Old Mutual Wealth is predicting defined benefit pension transfers will accelerate, with an estimated 25 to 30% of those eligible switching out of their schemes in the next 10 years.
Royal London offering ‘substantial’ cash for annuity guarantees
Royal London is worried pension holders are “throwing away” their guaranteed annuity rate (GAR) under the new pension freedoms and it wants to offer them cash for the promised return.
Analysis 18 May 18
The PI thorn in the side of DB pension transfer firms
Professional indemnity (PI) insurers are doing more than the Financial Conduct Authority to make the lives of IFAs providing defined benefit (DB) pension transfer advice difficult.
Gallery 14 May 18
Five ways international pension transfers are changing
Pension transfers are “good business for good advisers”, according to Old Mutual Wealth, which has produced a five step best practice guide for international advisers.
Pension freedoms fraud a major concern for over-55s
One in three people over the age of 55 say the risk of being defrauded is a major concern following the introduction of the pension freedoms in April 2015, according to research from Prudential.
News 3 May 18
PI woes force pension transfer firm to pull advice service
UK pension transfer specialist O&M Pension Advice will cease advising clients from 1 July after it ran into “unexpected difficulties” with its professional indemnity (PI) insurer, a problem that is becoming more common in the advice market.
Pensioners risk turning their retirement stream into a flood
Retirees in drawdown are at risk of running out of money in retirement, as a third have no investment experience and two in five are not getting any financial advice or guidance, research from Zurich UK has found.
South Africa gets $14bn boost by avoiding junk status
Moody’s decision to not downgrade South Africa to junk status has saved the economy about £14bn in outflows from the local bond market, according to an expert from Morningstar.
Sanlam launches inheritance tax mitigation service
Sanlam UK has launched an inheritance tax service that enables clients to mitigate liabilities and generate long-term growth by investing in smaller companies on the Alternative Investment Market.