A Day
Advisers are being urged to check all clients coming up to and in-retirement to see whether they need to protect their fund against the reduction in lifetime allowance.
SIPP and SSAS provider Barnett Waddingham today launches its bid to buy up clients who have been ‘orphaned’ by providers and advisers who have left the market since A-Day in 2006.
Skandia has called on HMRC to clarify whether pre-A-Day tax free cash will be protected when the new lifetime allowance (LTA) on pension contributions comes into effect in April 2012.
Other A Day articles
Almost a third of advisers who did not undertake SIPP business before A-Day have advised on the products since April 2006, according to research by LV=.
Following requests from the pensions industry, HM Revenue and Customs (HMRC) has published the Registered Pension Schemes Manual (RPSM) online in PDF format.
Financial education has to be made a priority if the majority of people are not going to miss out on the opportunities of A-Day, according to new research from the Association of Investment Trust Companies (AITC).
Norwich Union is withdrawing five of their pension products from the marketplace because of the new pension simplification rules after A-Day.
The biggest concerns for the future for private sector defined benefit schemes are deficits, regulations and Pension Protection Fund (PPF) levies, according to the National Association of Pension Funds (NAPF).
Over the last 10 years contract based group personal pensions have increased in popularity among employers and the A-day changes seem likely to accelerate this trend, claims new research from Clerical Medical.
The situation concerning tax-free cash and transfers of pensions after A-Day appears to have been resolved by HM Revenue & Customs after representations from pension and life companies.
GE Life has raised concerns that some pension policy holders could exceed their Lifetime Allowance limit (LTA) and be subject to a higher tax charge after new rules are introduced on ‘A’ Day.
Winterthur Life UK has today launched a flexible Self invested personal pension (Sipp) in anticipation of the new A-Day rules due to come into force next year.
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