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...
Legislation in the UK will be introduced in the Finance Bill 2021-22 to provide a framework of protections and increase the normal minimum pension age (NMPA) from age 55 to 57 from 6 April 2028. This measure would increase the NMPA, which is the minimum age at which...
From 30 November 2021 the UK Pension Regulator is requiring UK pension trustees and scheme managers ensure specific checks are made before complying with a member’s request to transfer their pension. Specifically pension members who wish to transfer their...
While the impact of Covid-19 on world economies has not fully played out and portfolios have taken a hit; in my opinion, we are not seeing a free fall in share markets. If you look at the US market from its high at the beginning of February to its low on 23 March we...
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...
The on-going Brexit negotiations and subsequent demise of the UK exchange rate have resulted in Brits who have moved to NZ (good choice!) swinging on the end of a pendulum; wondering if they should wait for a more favourable exchange rate, or bite the bullet and...
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...
