Robin Powell

"Schemes that struggle to support savers with their retirement decisions should consider consolidation into schemes that can offer value for money solutions that work for different kinds of savers." Pretty unequivocal from The Pensions Regulator CEO Nausicaa Delfas today about small DC schemes meeting the future requirements of the Pension Schemes Bill in relation to guided retirement and decumulation. Consolidation ("fewer, larger schemes") is something the regulator has been urging for years, but underlying data from TPR's latest survey indicates the message hasn't been getting through to some corners of the market. Read the full story via Pensions Expert: https://lnkd.in/eQZ-mCBs

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A new report from Pensions UK has set out a preferred model for small pots consolidation, recommending the use of existing technologies and processes, including some of those established to support pensions dashboards. Read the full story at Pensions Expert: https://lnkd.in/eanhxUHJ

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Big news from Nest Pensions this morning. As Pensions Expert reported last year, the master trust has been seeking a bulk annuity provider to support its post-retirement proposition. Today it has announced a partnership with Rothesay to "co-design a bulk deferred annuity for DC pension savers". More to follow!

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In the second of three features on pensions dashboards for Pensions Expert, I'm looking at what it will take to get from view-only dashboards, to a truly interactive experience. What interactive tools and features could dashboards offer in the future? And what will it require of the industry to get there? Read the full article at the link ⤵️ Chris Curry Pensions Dashboards Programme Paul Muir Dunstan Thomas (DT), Rob Yuille The ABI Mike Ambery Standard Life UK Hannah Godfrey Jemima Wright Nick Reeve #pensions #pensionsdashboards #retirement #savings #retirementincome https://lnkd.in/e4DygmBj

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A senior figure at investment bank Peel Hunt has set out what is “clearly missing” from Chancellor Rachel Reeves’ plans for reforming the UK pension industry. The government has provided more details on its proposals which include the creation of £25bn ‘megafunds’ to encourage fresh investment into UK infrastructure and businesses. The Treasury has also said it would “take a reserve power” in the upcoming Pension Schemes Bill “to set binding asset allocation targets”. However, Charles Hall, head of research at Peel Hunt, has pointed to what is “clearly missing” from the review – an “emphasis on the importance of listed markets and the importance of having pensions invest locally”. He added that the UK is “an outlier in this” and “you only have to look at Australia to see very clearly the benefits to all citizens of investing at home”. Read the full City AM story here - https://lnkd.in/ePhFybM6

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As part of IFA Magazine's special feature “Where Next for UK Equities?” Ninety One's Alessandro Dicorrado, Ben Needham and Anna Farmbrough explore why the #UK has been overlooked and undervalued for over a decade, despite hosting resilient global businesses and attractively priced domestic stocks. https://nty.one/4ncRw6l #equities #ukequities #quality #value #NinetyOne #UK

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ITC- Gilts: Much focus on the DMO tomorrow at 07.30BST 'The DMO will announce further details of the maturity area for the conventional gilt syndication' Details will be on DMO1 <GO> (on BBG)With underlying 30yr Gilt vulnerability still evident, (steepening on Monday) the DMO is taking views on the preferred tenor for this (long?) syndication toward the beginning of this week (synd. - Likely May20th) and publishing on Friday 2nd; From what we hear from a small community of Gilt participants the range of preference is wide ranging from 7yr to 15yr, 20yr or to go ahead with a 30yr, possibly stated as a NG (NoGrow) as a stabiliser/transparency.

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Excellent piece on the growth of 'mixed' trusts and what it might mean for inclusion from John Roberts this morning. He looks at the benefits as well as (mostly financial) challenges, talking to Owen Jenkins Lynsey Holzer Warren Carratt Leigh Edser and more. Read it here: https://lnkd.in/edGCPRdZ

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Labour has confirmed that inheritance tax (IHT) will apply to workers’ retirement savings even if they die before reaching pension age – a move some experts are calling “abhorrent”. Rachel Reeves announced in last year’s Budget that from April 2027, pension pots will be subject to Britain’s “most hated” tax. Currently, unspent pensions are typically passed tax-free to beneficiaries at trustees’ discretion. Under the new rules, these funds could be taxed up to 40 per cent as part of the estate if it exceeds the IHT threshold. Until recently, it was unclear whether IHT would apply if someone died before age 55 – the earliest age to access pensions. Now, HMRC has confirmed the tax will apply even if the saver never accessed their retirement funds. Read more here: https://lnkd.in/d6v-2j-K

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