Investors who had transferred their UK Pensions into the Kiwi Wealth Super Scheme have been advised this week that the scheme is closed to new members from 4 October and will wind-up effective 31 December 2023. Fisher Funds which now owns the Kiwi Wealth funds stated...
On the 15th March 2023 the Chancellor announced that the Lifetime Allowance (LTA) on UK pension funds will be abolished from April 2024. The Lifetime Allowance tax charge has been removed from the 6th April 2023. The Chancellor also announced an increase in the Annual...
In 2016 the UK Financial Conduct Authority (FCA) made it compulsory when transferring a Defined Benefit scheme with a transfer value of over £30,000 to obtain advice from a FCA regulated adviser prior to transfer. In order to give this advice the FCA adviser needs to...
In 2016, the UK Financial Conduct Authority (FCA) made it compulsory for anyone wanting to transfer out of a Final Salary, or Defined Benefit (DB) Scheme, that had a transfer value of over £30,000 to obtain FCA advice prior to transferring from a UK registered...
‘Final Salary’ schemes – also referred to as ‘Defined Benefit’ schemes – are a hot topic of debate in the UK. People are questioning whether to stay in these schemes, or cash out of them based on the incentives being offered to exit...
It has been estimated that there is around £103 billion over 3,700 UK pension schemes in deficit compared with 1,800 in surplus. There are close to 11 million Brits holding defined benefit pensions. Out of that number it is estimated that 3 million will encounter...
