Three things we learned this week

Retirement Planner’s round-up of the top pension stories this week.

Allow pension access through cash machines, says Friends

Around a third of consumers want to be able to contribute to their pensions via automatic teller machines (ATMs), Friends Life has said.

Consumers said they would use a facility to deposit cash and cheques or transfer funds electronically into their pensions via a hole-in-the-wall, according to Friends Life's Pensions: The Solutions report.

Friends Life also said there was demand for the ability to manage a pension pot through the red button on their TV remote controls.

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Watchdog rejects commission gripe against Standard Life

The Pensions Ombudsman has ruled in favour of Standard Life after an investor complained the commission on his self-invested personal pension (SIPP) was not properly explained to him.

The case has since been referred to the Financial Ombudsman Service (FOS) and then to the Financial Services Compensation Scheme (FSCS) as it also contained complaints against the investor's adviser.

The complainant, referred to in the ombudsman's notes as Mr King, applied for a Standard Life SIPP in March 2008.

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STEP creates model will clause to boost charitable giving

The Society of Trust and Estate Practitioners (STEP) has drafted a model clause for wills in response to government plans to reduce inheritance tax for charity donors.

The organisation hopes this template, if approved, will make it easier for wealthy individuals to leave a legacy which qualifies under the reforms, encouraging greater take-up of the proposals.

Policy and communications executive Scott Devine said: "The revenue said the success or not of this measure will rely on private client advisers telling their client this is available and the use of model clauses. We're hoping to help on both of those scores."

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