Industry news and views from Panacea and our partners.
Pensions_
Fidelity Adviser Solutions: The annual allowance charge and Scheme Pays requests
Fidelity Adviser Solutions take a step-by-step approach to calculating clients annual allowance charges and explain the two types of Scheme Pays, mandatory and voluntary. They also run through the process and deadlines for Voluntary Scheme Payments with their Pension.
Fidelity Adviser Solutions : Lifetime allowance making sure you have the correct allowance
Paul Squirrell, our pension expert, discusses some important considerations around the initial phase of LTA planning, on establishing the clients individual lifetime allowance. He illustrates how good advice may mitigate any potential tax charge.
Royal London: Transfers in drawdown (60 minutes)
The introduction of Pension Freedoms in 2015 had a significant impact on the defined contribution (DC) at-retirement market. The most obvious change was an increase in the number of customers choosing to access their DC pension benefits through an income drawdown plan, instead of buying an annuity.
Royal London: Pension saving statements
Listen to our latest podcast as part of our 5 minute download series where Moira Warner and Ryan Medlock look at the different pension saving statements that exist and what information they each provide. We will also look at the deadlines for sending out pension saving statements and how advisers can support their clients during this time.
Royal London: Unlock the full power of your clients pension
Hear from our Group CEO, Barry ODwyer, on the role pensions can play in the fight against climate change and the steps our industry must¬¬¬ take to make it easier for customers to invest responsibly.
FundsNetwork: The State Pension: how clients can boost the amount they receive
For most clients, the State Pension will form an important part of their retirement income. It not only provides a weekly sum to those who qualify, its also guaranteed and increased by at least the rate of inflation every year.
FundsNetwork: Dont let clients get caught by the lifetime allowance tax charge
The pension lifetime allowance (LTA) and the planning that surrounds it is far from straightforward. The amount has changed lots of times over the years and many more clients are affected by it than they once were. However, by ensuring that a client has utilised any LTA protection or available enhancements and by considering how these benefits are taxed, the impact may be reduced.
FundsNetwork: Help with your due diligence
To help facilitate your due diligence, or if you're new to Fidelity FundsNetwork, they have a range of guides around their Pension, ISA and Investment Account. They've also created a checklist covering 12 security-related questions they recommend you ask your platform partner to help your due diligence around keeping your clients' data and assets safe. But if all you need is a quick overview, their one-page summary explains how they support adviser firms and includes details of their latest enhancements.
Workplace pensions and pension transfers
Listen to our latest podcast with Fiona and Justin where they discuss policy statements and legislation around pension transfers, how this relates to workplace pensions and rules introduced by the FCA.
FundsNetwork: Gender pension gap
Join Fidelitys Maike Currie and a panel of industry experts to discuss ways to help close the gender pension gap. This virtual panel discussion go through the findings of the latest Global Women and Money study and what advisers can do to help build a more inclusive financial world.
Previewing the review for clients in SIPP drawdown (85 minutes)
On this seminar weve teamed up with Brewin Dolphin and XPS Self Invested Pensions, and looked at what advisers should be considering when conducting client income drawdown reviews...
The Future of Pensions Advice: Part 3 Tax Relief, Annual Allowance and a pair of pension tax tools (87 minutes)
Pension planning is nothing without knowing the tax implications of the advice, which can involve a lot of complex calculations.
The Future of Pensions Advice: Part 2 Drawdown have we learned the lessons? (86 minutes)
The FCAs finalised guidance on DB transfers has a direct impact on retirement advice and centralised retirement propositions. In this seminar Andrew Nash, Pensions Business Development Manager at Prudential, discussed that impact and how to ensure best practice is applied in income drawdown situations.
The Future of Pensions Advice: Part 1 Definitive breakdown of the final Defined Benefit rules (93 minutes)
In this seminar, Mark Devlin, our Senior Technical Manager for Pensions, talked about the final piece of the Defined Benefit (DB) advice jigsaw the Finalised Guidance paper FG21/3 and how M&G are responding to this guidance after its release on 31 March.
Lifetime allowance - take it to the limit and beyond (40 minutes)
In this webinar Craig Muir, Senior Development and Technical Manager, explains why the LTA was introduced, how the level has changed over the years and the impact of the 2021 Budget and what this change will mean. He'll also explore what the most encountered BCEs are and the options for paying the LTA tax charge when its due. Youll also hear more about different LTA protection options and the role these can still play in the advice process.
Canada Life: Pensions for estate planning
Understand the IHT benefits available when combining retirement and estate planning
Canada Life: Pensions Policy: What is happening?
Andrew Tully discusses the changes arising from the Pension Schemes Act 2021 and the main areas of FCA focus.
Canada Life: The Pensions Lifetime Allowance
The options advisers have when helping clients who may be faced with a lifetime allowance tax charge.
Canada Life: Understanding pension benefit crystallisation events
Understand the benefit crystallisation events, the lifetime allowance and potential tax charges.
Future-proof your retirement proposition - The Retirement Account (45 minutes)
Jeremy Martin discusses the Canada Life Retirement Account and the possible suitability for differing approaches to retirement.
Pensions for estate planning (45 minutes)
Understand the IHT benefits available when combining retirement and estate planning
Pensions Policy: What is happening? (40 minutes)
Andrew Tully discusses the changes arising from the Pension Schemes Act 2021 and the main areas of FCA focus.
The Pensions Lifetime Allowance (45 minutes)
The options advisers have when helping clients who may be faced with a lifetime allowance tax charge.
Understanding pension benefit crystallisation events (50 minutes)
Understand the benefit crystallisation events, the lifetime allowance and potential tax charges.
Defined Contribution: Pension Funding Allowances (30 minutes)
How DC pension allowances work specifically Annual Allowance, Carry Forward, Tapered Annual Allowance, Money Purchase Annual Allowance.
Canada Life: The Retirement Account
The Retirement Account is a pension and retirement solution designed specifically for its flexibility to adapt to a clients evolving needs, whatever stage of life theyre at.
Aegon: An update on the Standard Lifetime Allowance
The Standard Lifetime Allowance freeze presents a range of planning issues. Our analysis could help conversations with clients
Prudentials Previewing the review for clients in SIPP Drawdown seminar (60 minutes)
Prudentials Previewing the review for clients in Self Investment Personal Pension Drawdown seminar is now open for booking Wednesday 9 June from 9.30am to 10.30am, follow by 30 minute Q&A.
Royal London: Passing on death benefits
Clare Moffat and Fiona Hanrahan look at the facts behind pension death benefits.
Aegon and Next Wealth - Managing lifetime wealth in a changing landscape
Steven Cameron, Aegon's Pensions Director, Heather Hopkins, Managing Director at NextWealth and Richard Parkin, Director of Richard Parkin Consultancy discuss
Prudential: Our Future of Pensions Advice seminars are coming to you virtually
Prudentials three-part seminar series on 'The Future of Pensions Advice' is now open for booking. The virtual seminars will run over three mornings on Tuesday 11, Wednesday 12 and Thursday 13 May.
Aegon: Introduction to financial wellbeing podcast
Listen to our latest podcast where our Chief Distribution Officer, Ronnie Taylor, sits down with Chairman of the Initiative for Financial Wellbeing (IFW), Chris Budd to talk financial wellbeing and how you could think about incorporating a wellbeing discussion into your advice model.
Royal London: Pension switching
People in the UK have several jobs during their lifetime, which can mean several pension plans scattered across different providers.
Prudential: FG (21/2) Key points from the FCAs finalised defined benefit transfer guidance
Remember the Fun Boy Three/Bananarama song it aint what you do its the way that you do it?
Prudential: A 5.5 trillion pound opportunity, worth exploring!
Over the next 20 to 30 years, there's going to be a big wealth transfer down the generations and we've got the solutions and the support to help you, help your clients transition that wealth, in a way that suits them.
FundsNetwork: Investment Pathways
New legislation was introduced on 1 February 2021 requiring pension providers to offer Investment Pathways to certain individuals entering or topping up drawdown arrangements.
Pension contributions at tax year end an aide memoire
Our tax and pension experts, Paul Kennedy and Paul Squirrell, take a step-by-step approach to pension contributions from the critical starting point of tax relief. They also discuss carry forward, annual allowances, tapering and what triggers the money purchase annual allowance.