UK pensions…Returning to normal? Then along comes Coronavirus

Posted on March 4, 2020March 4, 2020 by simon

Up until January things seemed to be getting back to normal The amount that companies would offer as a transfer value for a £10,000 annual pension rose from £238,800 at the end of 2019 to £245,800 by January 31 2020. While this was still off the highs of 2019 it...Read More

Defined benefit transfer market hits the skids – transfers may eventually become extinct

Posted on January 27, 2020February 19, 2020 by simon

For many years the regulator in the UK, the Financial Conduct Authority (FCA), has ramping up the introduction of legislation to make it more difficult to transfer a defined benefit pension in the UK. While the protections are welcome for UK residents who often have little to gain from a...Read More

HMRC regulations slowing the pace of international pension transfers, but values remain high

Posted on August 12, 2019August 12, 2019 by simon

Transfers to QROPS are still popular with expats, and people returning home from working in the UK. Since QROPS started in April 2006, some 123,100 retirement savers have transferred a massive £11.41 billion into offshore pensions. Our analysis suggests New Zealand accounts for about a sixth of all the transfers,...Read More

Defined benefit FCA advisers a shrinking pool – with real consequences

Posted on January 15, 2019June 24, 2019 by simon

  If you want to transfer a UK defined benefit pension the UK regulator (the FCA) has made it really blinking hard. If your pension has a transfer value of over GBP30k, which is not a lot really, you need a UK regulated FCA adviser to give you FCA advice. ...Read More

£15bn sexism case puts UK pension transfers on hold

Posted on November 27, 2018November 27, 2018 by simon

  OK so there’s been a big and boring legal stoush going on in the UK... the upshot of which is that UK pension schemes trustees are now in a quandary and stopping lots of pension transfers. That can suck if you, through no fault of your own, are caught...Read More

Exchange rate spikes and how to take advantage

Posted on November 20, 2018June 14, 2019 by simon

Brexit, Trump and so much more, it seems that everyday is a rollercoaster on the exchange rate front. With so much uncertainty there is always a temptation to wait things out until calmness prevails, see what things will look like after Brexit or once Trump losses control of the house...Read More

FCA advice for final salary pension transfers to QROPS

Posted on September 13, 2018June 14, 2019 by simon

Every final salary pension transfer over £30,000 needs FCA advice [su_dropcap style="default" size="3" class=""]B[/su_dropcap]ack in 2016 the Financial Conduct Authority (FCA) made it complusory for anyone wishing to transfer a final salary pension scheme where the transfer value was over £30,000 to obtain FCA advice. Over time the FCA have...Read More

Siege mentality of UK pension providers making transfers hard

Posted on March 29, 2018October 1, 2018 by simon

UK pension providers appear to be grinding slowly to a halt on all pension transfers as walls go up and a seige mentality grips them. Emboldened by UK regulators effectively stating “that money in UK pensions should stay in UK pensions”, UK providers are throwing up as many roadblocks as...Read More

UK expats and returning Kiwis advised to transfer personal pensions before Brexit

Posted on February 26, 2018October 1, 2018 by simon

British expats and Kiwis who’ve left their personal pension back in the UK are being advised to transfer it before Brexit kicks in.   The advice is aimed not just at UK expats already living in New Zealand, but also to those planning to emigrate in the near future.  ...Read More

Advisers scamming NZ and OZ based UK pension holders

Posted on February 22, 2018June 14, 2019 by simon

For years the New Zealand regulator has been building a strong regulatory regime to protect people from bad advice and worse investments. One of the first principles in this protection is a ban on cold calls selling financial services.   A second principle is giving a fair and balanced view...Read More