Retirement outcomes

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One of the key findings of the FCA’s recent ‘Retirement Outcomes Review: interim report’ was the increased take-up of income drawdown. When considering the history of drawdown it’s significant to remember it was initially also described as ‘annuity deferral’. At the very beginning drawdown was available until age 75 and then an annuity had to...

The power of nudging

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We are living through the UK’s most ambitious behavioural economics initiative. Since 2012 every employer is on the road to automatically enrolling almost all employees into a pension scheme, and paying a pension contribution for them. There is no doubting the success of automatic enrolment. The Pensions Regulator say more than seven million workers have...

Putting the brakes on pension contributions

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Over the last 12 years (since A-day) there has only been one tax year – 2013/14 – where there haven’t been changes to the tax rules on pensions. Every other year, the amount individuals can put in and/or take out of pensions to get tax relief advantages have changed. For the first half of this...

The Advisory Unicorn

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During a telephone conversation with an adviser some weeks ago, I found myself within The Matrix. We had had a pleasant chat and I had got to the point where I was ready to ask what is apparently the most difficult of advisory questions. ‘So, can you just describe your target market for me?’ The...