Long-term care: Care-less attitude doesn’t bode well…

July 23, 2015 Tom Murray

Pensions UK Pensions freedom Life and Pensions Government

Care-less attitude doesn’t bode well… Hot on the heels of the Chancellors pension freedoms comes the news that the changes to the long-term care system that were designed to make long term care more affordable are being delayed until the next government. 2020 is now the stated date for the introduction of the reforms based on the Dilnot report, although they were due to go live in April 2016.
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Investment Life & Pensions Moneyfacts: Lifetime Savings Product - A crystal clear concept

July 15, 2015 Tom Murray

Pensions UK tax relief Annuity retirement age

This article was originally commissioned and published in June 2015 for Investment Life & Pensions Moneyfacts publication. Tom Murray argues that merging ISAs and DC pensions to create a lifetime savings product would transform the savings landscape and bring some much needed clarity.
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You can outsource business processes but not your compliance responsibilities.

BPO Pensions UK Service Level Agreement SLA

When it comes to outsourcing business processes the advantages seem obvious. It may make perfect sense to go this route so that you can focus on your core business activities, i.e. developing and marketing financial products. Leave the non-core activities to others, i.e. the administration. The only work involved for you lies in monitoring the SLAs. This appears to be an ideal route to go, and indeed for many it is. However the one area that is often overlooked when considering a case for outsourcing is compliance. The regulator is paying a lot of attention to the issue of where responsibility lies and it is worth being sure that, before you decide to outsource, you know exactly where you stand on this issue.
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Micro-firm’s auto-enrolment nightmare

June 09, 2015 Tom Murray

Pensions UK Life and Pensions technology SMB

The flood gates are about to open. Less than 50,000 employers had auto-enrolled by the start of this year and a similar number will do so by the end of 2015, as more medium and smaller employers come on stream. However, it is in 2016 when the big push will come, with over 100,000 due to auto-enrol in the first quarter alone. This is because we are arriving at the staging dates for employers with less than 50 employees, which kicks in at the start of this year and then rapidly increases, so that the tax year 2016/17 should see the auto-enrolment of over 600,000 schemes.
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TechLife Newsletter June 2015

June 04, 2015 Sharon Cronin

Channel Plus Illustrate Plus newsletter Pensions UK

The June print edition of TechLife is now available online. TechLife is published every quarter and is filled with news, opinion pieces, white papers and information on legislative changes within the life and pensions industry in the UK and abroad.
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Is the end nigh for Defined Benefit schemes?

May 12, 2015 Tom Murray

Greek debt deficit defined benefits Pensions UK

The biggest shock of last week in the pension’s world came with the announcement from Lufthansa that their defined benefit pension scheme deficit had now gone over €10 billion. This is a frightening figure – to put it in context it is up 41% since the end of 2014 and it equals the entire national debt of Bulgaria. While some of this increase is due to the current low-interest rate policy of the European Central Bank and will be ameliorated over time, nevertheless it is still a huge problem for the company which posted an operating loss of €133 million in the first quarter of this year.
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2015 UK budget expands pension freedom strategy

April 23, 2015 Tom Murray

Pensions UK pension freedom Lifetime allowance Annuity

  Eat, drink and be merry for tomorrow we die... Oops, maybe not!
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Actuarial Post: What changes faster than technology?

April 20, 2015 Tom Murray

Pensions UK Life and Pensions Individual Savings Account technology

This article was originally commissioned for the March/April 2015 edition of the Actuarial Post.
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There is no fairness in reducing pension’s tax relief

April 17, 2015 Tom Murray

longevity Pensions general election UK politicians

We are in the midst of a general election and, naturally, there are all sorts of spending proposals flying around. Of course these proposals will need to be paid for, and it is worrying how frequently the idea of reducing pensions tax relief is being bandied around as a means of raising funds to pay for these new proposals.
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Everybody lies! - Technological transformation in the protection world

March 11, 2015 Tom Murray

protection Pensions UK wearable technology big data

This article was originally commissioned and published in the February 2015 edition of the Investment Life & Pensions Moneyfacts publication.
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