SIPPs: FSA warns on overseas property investments

FSA warns on overseas property investmentsThe FSA has issued two warnings to advisers and investors highlighting the dangers of overseas property and wider unregulated investments. In a separate alert to financial advisers the regulator also took the unusual step of naming one particular unregulated investment scheme. SIPPs and unregulated investments In the first warning the FSA highlighted their concerns over some financial advisers recommending SIPPs (Self Invested Personal Pensions) to investors who then planned to buy unregulated investments ...

Autumn Statement 2012: How will it affect your pension?

How will it affect your pension?As the dust settles on George Osborne’s Autumn Statement and the headlines give way to analysis of the detail, we thought we’d take a look at how your pension will be affected by the various announcements. The Autumn Statement contained three key changes regarding pensions; in our opinion were two negative and one positive. Let’s look at each one individually. Negative change #1: Lower Annual Allowance The Annual Allowance is the amount you can pay into your pension each year, whilst claiming tax relief ...

Retirement: DWP outlaw final salary pension ‘bribes’

A new code of conduct introduced by the Department for Work and Pensions (DWP) will stop employers offering members of Final Salary pensions cash incentives to leave the scheme. Transfers from Final Salary pensions Over the past few years an increasing numbers of employers have been offering members of Final Salary pensions, also known as Defined Benefit pensions, financial incentives to leave the scheme, thereby reducing an employer’s long term liabilities. Retiring soon? Our advisers can help you make the right ...

Pensions: Tesco to increase retirement age to 67

Tesco has said it wants to make major changes to its pension scheme, which could see employees retiring later with smaller pension incomes. Tesco, the UK’s largest private sector employer, has started a consultation with staff on changes it would like to introduce to its staff pension; it is likely other UK employers will be monitoring the outcome closely before making decisions about their own scheme. Pension changes The consultation focuses on two main areas, moving the retirement age from 65 to 67 and increasing pension payments in line with CPI (Consumer Prices Index) and not RPI (Retail Prices Index) in retirement. Income from ...