Pension
Retirement | 27 Jan 16
Rate of UK flexible pension drawdowns slows
The number of people taking advantage of the new pension freedoms dropped by 13.3% between the third and fourth quarters of 2015, with the total value of funds released down by nearly a third.
Whitechurch added to advisory panel for L&C’s low-cost Qrop
London & Colonial has added Whitechurch Securities to its panel of approved discretionary fund managers for its low-cost Qrop product, the Multi-Platform International Open Pension.
Tax & Regulation | 18 Jan 16
UK gov’t favours upfront tax relief on pension plans
UK chancellor George Osborne is likely to opt for a flat rate of tax relief on pension savings rather than a more radical move to a so called “pension Isa” when he announces the outcome of the government’s current review.
L&G consolidation continues with Suffolk Life sale
Legal & General has further rationalised its offering by announcing the sale of Sipp provider Suffolk Life to Curtis Banks Group. The move follows L&G’s recent decision to dispose of non-core businesses, which saw it withdraw from France, Ireland, and Egypt in 2015.
Retirement | 7 Jan 16
FCA reports 13% drop in consumers accessing UK pension pots
The Financial Conduct Authority (FCA) has published its latest quarterly data on how consumers accessed their pensions in the period from the beginning of July to the end of September 2015. The sample of firms in the survey covers an estimated 95% of defined contribution (DC) contract-based pension schemes. Please click on the pictures below to see the findings.