Rishi Sunak can afford to be bold on pension reform in his autumn statement Rishi Sunak can afford to be bold on pension reform in his Autumn statement Rishi Sunak’s summer economic statement was essentially an exercise in positivity. The update, given by the chancellor two months ago, was mainly focused on helping Britain emerge from the coronavirus pandemic in decent shape. However, as with the various virus-related schemes announced in his spring Budget, his new initiatives to kickstart the economy come at [...]
Budget 2020: What is on the pensions industry’s wish list? Budget 2020: What is on the pensions industry's wish list? As Rishi Sunak, the new chancellor, prepares for his first Budget next week, the pensions industry will be watching what happens with eagle eyes. Reports have circulated that the government, emboldened by its landslide General Election win last year, could bring in sweeping changes to how some people save for retirement. Some predict that Sunak [...]
The conflict of interest around pension transfers Going back 40 years, most employees were members of defined benefit pension schemes. Things have certainly changed. Access to defined benefit schemes has dropped significantly, while the proliferation and membership of defined contribution schemes has soared. In April 2015, the pension freedoms liberated funds by offering individuals easier access to their savings from age 55 [...]