UK Pension Freedom. Did they all buy Lamborghini’s?!! When George Osborne introduced the “pension freedom rules“in April 2015 his pensions Minister at the time Steve Webb fuelled the freedoms debate by suggesting that “people could use the money to buy a Lamborghini if they wished“ Since that time both the politicians have departed, with their […]
A royal London survey has found that Pension transfer values outstripping UK house prices. Research from Royal London has found that the value of pensions being transferred out of defined benefit (DB) schemes is greater than the average cost of a house in the UK. Royal London said that a survey of 800 UK […]
A recent article by Kirsten Hastings in International Adviser overviews a research paper from Old Mutual International (OMI) which suggests that fear that defined benefit (DB) pension schemes may be unable to meet their long-term liabilities is driving demand for pension transfers. The OMI survey found that two-thirds (67%) of those surveyed think that […]
If I Had A Final Salary Pension Scheme, I’d Cash It In Now. So says Financial Times journalist Merryn Somerset Webb in the weekend Financial Times of December 3 2016. This is because defined benefit pension schemes value their pension promises on the basis of the yields paid on government bonds or gilts. But in recent […]
Majority take sensible approach, but signs some withdrawing too much too soon The Association of British Insurers has today published statistics for the first complete year since the Freedom and Choice reforms, from April 2015 to April 2016. The ABI is also publishing new data which shows the percentages withdrawn from pension pots and from […]
Is It A Good Idea? The UK has recently reformed some of its pension rules. From 6 April 2015 these reforms include: A new flat rate state pension, Tax changes for the beneficiaries of your retirement fund, No more annuity purchase requirements. There is also an option to withdraw from your pension schemes with complete freedom […]
