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UK Pension Transfers

Why Are Defined Benefit Transfer Values So High?

Defined benefit transfers are not new, but have been a legal right to deferred pensioners since the eighties. However, they seem a particularly attractive option at the moment due to one main factor - historically low gilt yields. As defined benefit pension schemes have to provide fixed pension incomes in retirement, the most important return factor in the calculation used by actuaries to work out cash equivalent transfer values is the risk free investment return based on UK gilt yields. Gilts...

Pensions freedom age to increase from 55 to 57

On the go: The government has confirmed it will increase the age at which people can access their pension from 55 to 57 in 2028. The government first indicated its intention to increase this age back in 2014 but did not legislate for it, leaving many across the industry to question whether the change would ever go ahead. Under current pension freedom rules, which were introduced in 2015, individuals aged 55 and over can choose how and when they can access...

Just The Tonic

Finsbury Growth & Income Trust (FGT) has been managed by Nick Train since January 2001. Given the economic uncertainty due to the global COVID-19 pandemic, he stresses the importance of determining which companies will survive and thrive, and which could ultimately fail. The manager also seeks to invest in firms that can take advantage of the upsurge in digital and software services, as technology is advancing at an accelerating pace. While Train rarely initiates new holdings in the fund, in...

The 100 Year Life: How to make longevity a blessing, and not a curse

WHEN Poles want to wish somebody well, they wish them a hundred years of life. This is a charming prospect, as long as the chances of it coming to pass are vanishingly small. But once it starts to look as though it might actually happen, you may think that people should be careful what they wish for you. As Lynda Gratton and Andrew Scott make arrestingly clear in their book The 100 Year Life, it will take a lot more than...

UK academics set to pay more into pension fund to plug gap

Academics face paying more to plug £8.4bn pension fund gap Contributions need to rise by nearly 4 percentage points, warns scheme’s provider. Members of the UK’s largest pension scheme will need to increase their contributions by nearly 4 percentage points to help plug its £8.4bn accounting deficit, unless they can come to an agreement with their employers, the Universities Superannuation Scheme warned this week. USS, which provides pensions for academics, said that if academics and universities did not strike a deal...

UK Listed Trust Update - THE MONKS INVESTMENT TRUST

By David Hayes, Investment Adviser THE MONKS INVESTMENT TRUST International share diversification can be achieved by utilizing UK listed trusts. The UK listed trusts manage diversified international share portfolios and they are reliant on the managers ability to navigate the global financial markets. These investments are listed on the London Stock Exchange and denominated in Sterling. Baillie Gifford & Co Limited is a fund manager based in Edinburgh with £173 billion under management in specialist equity, fixed income and multi-asset portfolios...

Brexit - Should they stay or should they go?

On the 23rd of June 2016, Britain will vote on whether to stay within the European Union (EU). What does it all mean? What does it mean for Europe, the UK and the World? What does it mean for your portfolio? Firstly, what is “Brexit”? What is it? Brexit is an abbreviation of "British exit" that mirrors the term Grexit. It refers to the possibility that Britain will withdraw from the European Union. The country will hold an in-out referendum...

UK Launches Website to Trace £400m in Unclaimed Pensions

The UK’s Department for Work and Pensions (DWP) has launched a new pension tracing website to help savers track down lost or forgotten retirement pots. The DWP estimates that around £400m of unclaimed pension savings are waiting to be claimed. Users will need the name of an employer or provider to access the service, which will then search a database of 320,000 pension scheme administrators and come up with contact details for people to use. The department believes that recent reforms...
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