Radcliffe News

Feb

14

Riding out the storm: Five tips for investors during market turbulence

Five tips to pass along to clients who might be feeling the pressure during times of market volatility This week's market upheaval has tested the nerves of investors for the first time since 2015, according to AJ Bell's investment director Russ Mould. He said the volatility followed a "period of mill pond like calm". "The fact that the global sell-off has halted, at least for now, suggests investors have quite sensibly not hit the panic button yet but they will be on high alert and... Read More »

Feb

14

Stable 3% inflation eases pressure on pensioners – Aegon

Inflation in the UK remained flat at 3% in January indicating levels have now peaked and pressure on fixed income households, including pensioners, would ease, according to Aegon. Consumer Price Inflation came in unchanged on the previous month after a fall in oil prices was offset by prices for cultural goods and services, according to the Office for National Statistics. Aegon head of pensions Kate Smith said that although inflation is still 10 times higher than it was two years ago... Read More »

Feb

14

UK state pension ‘least generous in the developed world’

The UK state pension is the "lowest in the developed world", according to the latest OECD figures that display a comparison between the more generous state-funded pensions and the least. According to the data, the UK is at the bottom of the global pensions league table, with the least generous state provision. As a percentage of average earnings, the UK government pays out 29%. Comparatively, the Netherlands pays out 100.6%, Spain pays out 81.8%, Germany pays out 50.5%, the USA... Read More »

Feb

9

The cost of Tax Relief

HMRC has just issued revised – and higher – projections on the cost pension tax reliefs to the Exchequer in 2017/18. Last October HMRC updated its statistics on tax relief costs for pension arrangements, incorporating provisional figures for 2015/16, the latest reported tax year. At the time it was commented that the data was inevitably dated because of tax return timing and hard to compare with previous years because of the roll out of auto enrolment. HMRC have now published revised... Read More »

Feb

9

Pension Freedom Statistics: £15.7 BN from April 2015

HMRC have released figures that show pension savers have cashed in £15.7 billion from their pension pots since pension freedoms were introduced in April 2015. Over 3.2 million taxable payments have been made using pension freedoms, with 198,000 people accessing £1.5 billion flexibly from their pension pots over the last 3 months, according to published HMRC figures. There has been some discussion on the reason for the reduction of the average payment per individual in the last quarter... Read More »

Feb

9

Pension Scammers ordered to repay £13.7M they took from victims

The Pensions Regulator (TPR) has secured a High Court restitution order requiring the repayment of £13.7m to pension scheme members involved in a pension scam. A press release from TPR has announced that four people who ran a series of scam pension schemes have been ordered to pay back £13.7 million they took from their victims. David Austin, Susan Dalton, Alan Barratt and Julian Hanson squandered the money after 245 members of the public were persuaded via cold-calling and similar... Read More »

Jan

31

Chancellor calls for IHT review to simplify system

Chancellor Philip Hammond has written to the Office of Tax Simplification (OTS) to request a review of inheritance tax (IHT) with a view to simplifying the current regime. In a letter, dated 19 January, Hammond said: "I am writing to acknowledge the OTS's recent interest in the IHT regime. IHT, and the system within which it operates, is particularly complex, and I would like to request that the OTS carry out a review of the IHT regime. "I would be most interested to hear any... Read More »

Jan

31

FCA warns against scammers’ convincing online testimonies

The Financial Conduct Authority (FCA) has warned consumers against trusting online customer testimonies, which the regulator said are favoured trust-building techniques by scammers. Research from the regulator found almost one-quarter (23%) of those surveyed trusted investment companies more if they displayed online customer testimonies. The FCA said scammers create "highly professional-looking" online investment platforms featuring customer reviews, logos and statements to lure... Read More »

Jan

31

Mixed investment tops adviser sales in December

The mixed investment 20-60% shares sector topped adviser sales in December, with the 40-85% shares sector following closely behind, according to data from the Fidelity FundsNetwork platform. Strategic bonds came in third in the top 10 sales chart by Investment Association sector, in the final month of 2017. December also saw a rise in popularity of more defensive assets, with the short term money market and corporate bond sectors seeing strong flows in the month. A similar trend... Read More »

Jan

31

Gender gap: Women end up with half the pension of men by age 50

Women accumulate on average £56,000 in their pension funds by age 50 compared to £112,000 saved by men, research by Aegon has found. The data showed that the gender gap rises with age, as women aged 50, who want to match their male counterpart's pension at retirement, would need to pay an extra £360 into their pension pots each month. The study, part of Aegon's Readiness research, was carried out with a sample of 2000 participants aged 18 to 65. According to Aegon, a number of... Read More »