All Treasury articles – Page 10
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News
Transfers to be streamlined as more ask for quotes
The Pensions Regulator will introduce new guidance to ensure transfers between defined contribution schemes are completed promptly, the government said last week. This comes as defined benefit transfer values recovered in January after hitting a low in December.
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News
FCA data show Pension Wise take-up is still low
More should be done to encourage pension engagement in the workplace, experts have said, after the latest data from the Financial Conduct Authority show low use of Pension Wise.
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NewsA lot to get to grips with: the legal and regulatory outlook for 2016
Legal and regulatory change was abundant last year and 2016 looks like it will continue in the same vein, as both the UK and Europe are churning out legislation and rules affecting occupational pension schemes.
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Opinion
Indecision and fear: tax changes threaten the role of pensions in employee benefits
From the blog: More than half of schemes are considering offering a cash allowance to members affected by pension tax changes, as alterations to the lifetime allowance threaten to drive high-earners away from workplace pensions.
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Opinion
Tax, cyber crime and covenant guidance: what to look out for in 2016
The pensions industry has had to deal with changes across many fronts in the recent past. 2015 was no exception, bringing proposals for Local Government Pension Scheme pooling, the introduction of freedom and choice and the beginning of re-enrolment.
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Features
Secondhand annuity market takes shape but risk of poor deals looms
Analysis: The government has confirmed it will soften the tax hit for those looking to take advantage of the secondary annuity market, but some experts are concerned the financial services industry holds all the cards in getting the best deal.
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NewsSecondary annuities: Govt starts putting down advice parameters
Many pensioners hoping to sell their annuities on the open market will be required to seek financial advice before doing so, the government has announced, as the industry awaits further detail on the structure of the secondary annuity market.
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OpinionThings in the Autumn Statement you might have missed
Aries Insight’s Ian Neale dissects the Autumn Statement and explains what indirect effects some of the new policies could have on pensions.
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NewsAutumn Statement gives pensions industry a breather
The pensions industry has learned to brace itself for surprise over the last couple of years, so was relieved to escape relatively unscathed in Wednesday’s Autumn Statement.
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OpinionAutumn Statement uncharacteristically quiet(ish)
From the blog: Once again the pensions industry pleaded with the chancellor to hold off on any further profound changes, only this time it looks like it got its wish… sort of.
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OpinionIncentivising savings – or reducing tax reliefs?
There is still no certainty about the future tax treatment of pensions. The Society of Pension Professionals’ president Duncan Buchanan explains why we might just end up with the system we have got.
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OpinionPension Wise weakness flags need for employers to step up
From the blog: The Work and Pensions Committee has rightly criticised Pension Wise this week for providing a service that is too impersonal and limited in scope.
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News
Pension freedom report: Must do better
A clearer definition of advice and stronger warnings about scams were two of the points raised in the Work and Pensions Committee’s report on pension freedom this week, which has found support across the industry.
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NewsWarburtons spells out the ABC of pension freedoms
There has been a spike of interest in pensions since new freedoms were introduced six months ago, but some corners of the industry are struggling to communicate the choices available.
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NewsOsborne's wealth funds target LGPS cost savings to boost infra
Chancellor George Osborne pushed local authority scheme collaboration forward this week by declaring they would be pooled into six 'British Wealth Funds' as part of a plan to ramp up infrastructure investment and reduce scheme running costs.
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Features
What prep have trustees made ahead of any tax changes?
Any Other Business: John McDonnell has laid bare his plans to end austerity and tackle the deficit by taxing the rich.
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News
Employers need government support to lead on engagement
Workers yearn for employer guidance on pensions but still lack understanding, leading some experts to call for the government and pensions industry to help employers use their influential position to promote saving.
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NewsFreedom variability distorts member behaviour, FCA study shows
Data from the Financial Conduct Authority has shown drastic changes in how consumers access their pensions since the introduction of the flexibilities, though experts have said difficulty accessing some options may have skewed consumer choices.
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Opinion
How can tax relief be used to encourage saving?
Analysis: Encouraging savers to make sufficient provision for their retirement is an important challenge for both the government and the pensions industry.
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OpinionTreasury: Building on the success of the freedoms
Talking Head: Pension freedoms are off to a positive start, says the Treasury’s Harriet Baldwin, but individuals still need help finding financial advice.