The FCA recently published its final report on the Retirement Outcomes Review which Elaine Turtle, Director at DP Pensions, discusses its interesting ideas to improve the experience of non-advised consumers, but some of the areas could cause difficulties for the SIPP sector.
All posts by Mark Whybrew
Don’t let a scammer enjoy your retirement
The FCA have launched a new Scamsmart campaign with The Pensions Regulator (TPR) to raise awareness of pension scams and urging the public to be cautious when approached about their pension.
The new campaign urges consumers to be ScamSmart and to check they are dealing with an authorised firm if they are considering changing their pension arrangements.
Find out more about the campaign here;
https://www.fca.org.uk/scamsmart
Downloads
SIPPs Professional article – Elaine Turtle: It’s pension tax relief Groundhog Day
Elaine Turtle, Director at DP Pensions, discusses the Treasury investigating the option of introducing a flat rate of pension tax relief once again.
Retirement Planner article – Case study: Making SSAS work during difficult times
Elaine Turtle, Director at DP Pensions, looks at a bittersweet SSAS example where tax-free cash helps ease the pain of a devastating medical diagnosis.
https://www.retirement-planner.co.uk/234348/rp-case-studies-making-ssas-work-difficult-times
Minimum Energy Efficiency Standards (MEES) Further update
The Minimum Energy Efficiency Standards (MEES) that came into force on 1 April 2018 in England and Wales now apply to any new or renewal leases that are granted in respect of commercial property. It is now unlawful for landlords to let premises that have an Energy Performance Certificate (EPC) with a rating below E without carrying out works to improve the energy efficiency of the building and to bring the EPC rating up to an E or better, unless the landlord obtains an exemption from the local authority. Please read the information carefully and contact your legal or financial adviser if you have any queries.
Adviser Business Review article – Tangible Moveable Property: what you can and can’t hold in SIPPs
Geoff Buck, Associate Director at DP Pensions, explains the rules around Tangible Moveable Property, what can be used in a SIPP and why product providers err on the side of caution.
https://adviserbusinessreview.com/tangible-moveable-property-what-you-can-and-cant-hold-in-sipps/
General Data Protection Regulation (GDPR) bulletin
The GDPR is EU legislation that applies to all countries and comes into effect on the 25th May 2018. It builds on existing data protection laws, giving all businesses new obligations and strengthens your rights regarding your data. This Bulletin will detail how GDPR affects you and the administration of your pension scheme.
Retirement Planner article – Case studies: Taking two bites of the cherry
Elaine Turtle, Director at DP Pensions, looks at a SIPP case where a fiercely independent client comes to realise the value of advice.
https://www.retirement-planner.co.uk/233642/rp-case-studies-taking-two-bites-cherry
Scottish Rate of Income Tax (SRIT) Bulletin
This Bulletin contains information about recent changes that the Scottish Government have announced regarding Scottish Income Tax rates and allowances for the 2018/19 tax year.
SIPPs Professional article – Elaine Turtle: FCA right to scrutinise pensions competition
Elaine Turtle, Director at DP Pensions, talks about the FCA’s recent discussion paper DP18/1: Effective competition in non-workplace pensions.