Latest pension updates

Along with global legal practice Eversheds Sutherland, we look at why employers might want to do more than simply meet the legal minimum in terms of their auto enrolment duties.

The Finance Bill 2017-19 has passed into law – we look at the impact on the Money Purchase Annual Allowance.

Our latest research looks to understand the key influences on millennials' future long-term pension savings. Here are our top five takeaways to consider when developing a strategy for advising them.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs).

Our new analysis has highlighted the fiscal pressures on the Chancellor due to a combination of spending pressures, revenue shortfalls and an inability to raise politically sensitive rates of tax, NICs and VAT.

Read our research paper, providing insight to millennials' attitudes and behaviours around saving for retirement.

Royal London has been highly commended in the ‘At-retirement solution’ category at Pension Insight’s DC Awards.

Please join us from 3:00 - 3:45pm on Tuesday 12 December 2017. He will be discuss the investment outlook for 2018.

Nersen Pillay, Investment Director at Royal London Asset Management, looks at the powerful role diversification can play when saving for retirement.

Our RLP UK Ethical pension fund becomes RLP Sustainable Leaders fund, in a move that reflects our sustainable approach to investment.

Last week the government announced the pensions dashboard project will go ahead under the DWP.

Our enhancements will make it even easier for clients to access our secure online service area.

We consider the progress of the FCA’s Advice Unit as well as the most recent proposed guidance on insistent clients.

Pension expert, Jim Grant, explains what this is and shares some common events that trigger the lifetime allowance charge.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs). A strategic asset allocation change has also been made to the GRIPs.

Building on our five-year track record, we’re making changes to the strategic asset allocation of our GRIPs to improve diversification and make the GRIPs more suitable for more of our drawdown customers.

Our Governed Retirement Investment Portfolios (GRIPs) reach their five-year milestone, and prove their resilience in challenging market conditions.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

Watch a recording of the webinar.

Our latest policy paper reveals what the fall in the savings ratio does (and doesn’t) mean.

The Pensions Regulator (TPR) has taken the step of naming and shaming employers who have been served County Court Judgments (CCJs) for non-payment of auto enrolment fines. We take a look at what this means for employers, their employees, and advisers.

Our market position reflects our strategy of delivering high-quality products and service.

The Retail Distribution Review (RDR) brought many benefits to the UK pension industry, but it also created an advice gap, resulting in consumers with the smallest funds struggling to access advice at a suitable price.

Transfers from Defined Benefit (DB) schemes are a bit of a hot topic just now. In this article we look at a couple of factors that could prevent a transfer from happening.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs).

Thanks for taking the time to vote for us – we’re delighted to have picked up yet more awards.

Transfers to overseas pension schemes are not recognised transfers unless the transfer is to a Qualifying Recognised Overseas Pension Scheme (QROPS).

New research shows those customers who receive financial advice can be better off on average by £40,000.

We’ve received great feedback from you on our Customer Voice Programme and the customer values that underpin it. We’ve now expanded our programme to include advisers too.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs).

In defined benefit (DB) schemes part 1, we looked at recent guidance aimed at DB scheme trustees and sponsors. In part 2 we will look at guidance available to pension transfer specialists (PTS).

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

Three million workers missing out on £2 billion of 'buy-one, get-one free cash' from their employers

Royal London Asset Management's Head of Multi Asset shares his thoughts about the hung parliament.

Our new research has found huge variations in retirement outcomes for future generations based on the choices they make in a world of Defined Contribution saving.

Quarterly update from Head of Multi Asset at RLAM, Trevor Greetham

A number of regulatory papers focusing on DB pension schemes have been released over the last six months. Justin Corliss, Business Development Manager, summarises the main points.

The tables used for capped drawdown maximum income calculations have been updated. We look at the reasons for the change and what the impact could be.

800,000 people at risk of being over-taxed on their pensions – Steve Webb, Royal London Director of Policy writes

New HMRC figures show number of ‘mothers missing out on millions’ in pension rights has doubled in two years – Steve Webb

Families face shock five-figured tax bills after death of a loved one – Steve Webb writes

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs).

This special edition of Leading Edge features highlights from the presenters at RLAM's 2017 Investment Conference.

Relevant planholders will be sent their statement packs in June 2017.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

There’s sometimes confusion around what triggers the money purchase annual allowance. Find out what does and what doesn’t trigger the MPAA.

In her final article for Royal London, Fiona Tait reviews key changes she believes have (or will) transform pensions.

Independent Governance Committee annual report 2016 published- Royal London continues to provide value for money to its workplace pension customers

These results reflect the continued excellent progress of Royal London in 2016, performing well despite the backdrop of a turbulent year in politics and markets.

Royal London Target Lifestyles win Corporate Adviser Ultimate Default Fund of the Year 2017.

More people are using income drawdown than ever before so it's not surprising that for many of you retirement planning often accounts for the largest slice of your business income.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs).

Watch a recording of this webinar which took place on 30 March 2017.

We’ve made improvements to our pension online service login experience.

In November last year, the FCA announced that from 31 March 2017, early exit pension charges will be capped at 1% for those customers who are eligible to access their retirement savings from age of 55.

Fiona Tait takes a closer look at the Department for Work & Pensions’ forthcoming review of automatic enrolment

Jamie Clark gives the lowdown on what happens when an employer fails to pay auto-enrolment fines.

Trevor Greetham reveals why clients should be seriously concerned when short-term holdings of cash turn into a long-term investment.

Royal London reaches £1bn milestone of assets under management for the Governed Retirement Income Portfolios.

The DGS is more than just a pretty website, it can help you to target those clients who are most likely to be affected by the proposed cut in the Money Purchase Annual Allowance MPAA).

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

Further to its investigation into the collapse of BHS and the impact on its pension scheme, the Work and Pensions Select Committee sets out its recommendation for defined benefits (DB) schemes going forward. We take a look at the main findings.

We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process.

Do guarantees benefit customers and if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management tells us why 2016 was the best year for multi asset returns since 2009.

In September 2016 we told you about our updated annuity bureau process, and since then we’ve added more providers to our panel.

Please join us from 9.30–10.30am on Thursday 9 February 2017 for a webinar.

RLAM have won a series of awards in recent weeks, adding to another successful year of award wins for the company.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

The chancellor’s announcement of proposed cuts to the Money Purchase Annual Allowance (MPAA) means it will be more important than ever to be able to tell your PCLS from your UFPLS.

The ninth Royal London Policy Paper discusses how thousands of mothers are missing out on state pension rights when they don’t have to.

Royal London is the first provider to appoint a customer to its IGC to act in the interests of workplace pension customers.

HM Treasury’s consultation into the introduction of a pensions advice allowance closed on 26 October. Here are our thoughts.

The Government is introducing legislation in the Pensions Schemes Bill to protect people saving for retirement through master trusts. This follows industry concerns on the risks to members of a master trust failing. In this article, we consider the changes being introduced, why they are needed and their likely effect.

Royal London is pleased to support the petition calling for a ban on cold calling for pension and investment products.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs)

Royal London Asset Management (RLAM) shares its views on the market impacts of the election of Donald Trump as the 45th president of the United States of America.

The recent report from the PPI (Pensions Policy Institute) demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report.

As the Autumn statement approached Steve Webb calls for the Government to stop tinkering with tax relief.

Our 9 Governed Portfolios and 5 Governed Retirement Income Portfolios are now mapped to FinaMetrica risk tolerance scores.

We're improving our telephone system to allow us to handle customer calls more effectively.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

New estimates by Royal London suggest that over half a million workers retiring before state pension age will have the opportunity to top up their State Pension at bargain rates in the coming five years.

Royal London carried out a UK wide survey with 2,500 consumers age 35-44 over the summer. The survey found that over a third, 34% said their finances felt Squeezed and so were struggling to meet day to day expenses, despite 87% being aware that they need to save more.

Fiona Tait gives an update on 3 big announcements from the 2016 budget - Pensions Advice Allowance (PAA), the Lifetime ISA (LISA) and the Pension dashboard

To ensure customers approaching their retirement age choose the right annuity for them, we’ve updated our annuity process.

There are now more active savers in UK DC pension schemes than in DB pension schemes, according to recent stats from the Pensions Policy Institute. They also estimate that in just 15 years there could be as many as 17 million members enrolled in DC workplace pension schemes*.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

The UK base rate is now at a 300 year low and means that many cash funds, including the RLP Deposit Fund, are delivering negative returns to investors. If you have clients sitting in cash it might be a good time to review whether cash is suitable in the current climate.

Like the majority of the market the Governed Range was positioned for a “remain” vote. Instead sterling weakened, bonds yields fell to historic lows, equities went up with overseas outperforming UK, and a number of high profile property funds suspended trading.

On 26 August, Standard & Poor’s affirmed Royal London’s counterparty credit rating of 'A' with a stable outlook.

This month the Association of British Insurers (ABI) published their data on pension withdrawals over the first 12 months of pension freedoms. We look at the emerging trends and how this compares with figures from Royal London Intermediary.

HMRC’s long-awaited service allowing pension scheme members to apply to protect pension savings from the lifetime allowance charge was launched on 28 July 2016.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

In our latest research report, we look at how people who are currently struggling to manage their existing finances can take action to boost their retirement savings.

To allow customers greater flexibility when planning for their retirement, we’ve made our Pension Portfolio plans more flexible.

The British obsession with home ownership can have dangerous consequences. A recent survey by Barings¹ found that up to three million people of working age are planning to rely wholly on the value of their home to fund their retirement.

On the 5th of July¹ the Pensions Ombudsman determined that Royal London was not liable for any further action having allowed a member to transfer their funds to a pension scheme which later became insolvent.

During April, May and June Royal London delivered a brand-new presentation - “Introducing LISA” - at 26 regional meetings around the country, outlining the draft rules and how the planned new product could be used by advisers' clients.

We've received lots of queries on scheme pays and when it can be used. This article explains how it works and the conditions which apply.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

Following the UK's decision to leave the EU, you may have seen a number of high-profile property funds suspend their trading. I'd like to reassure you that the Royal London Pension Property fund remains open for business.

We’re making some exciting changes to the strategic asset allocation of our Governed Portfolios including the addition of some new asset classes. The aim of this is to increase diversification and make the portfolios more resilient to shocks.

The outcome of the EU referendum was a major surprise to stock markets and we are likely to see some market volatility until the full implications become clear.

Royal London’s Drawdown Governance Service (DGS) is now live, allowing adviser to monitor the level of income withdrawals their RL clients are taking and manage sustainability. It also gives us a snapshot of what clients are currently doing and the chance to monitor trends over time.

Read our Q&A document on the impact of the EU referendum result taken from a recently recorded RLAM webinar.

Ros Altmann reportedly hoped for more product innovation following pension freedom¹, and according to one poll 66% of advisers also believe that providers should be doing more².

Since the announcement in March, the Lifetime ISA (LISA) has attracted controversy. Heralded as a saviour for the self-employed and the young wanting to get on the housing ladder, the new LISA risks adding confusion for savers trying to fully understand the benefits of new workplace pension savings through auto-enrolment.

Industry awards tell us we’re doing something right. That we’re delivering on our promises. And that we’re giving you the support you need.

We'll shortly be writing to customers who took out a Pension Portfolio plan between 11 January and 30 May 2016 to tell them about a further retirement income option we’ve added to their plan from 30 May 2016 - combined regular payments of tax-free cash and taxable income payments.

We have received lots of queries on the tapered annual allowance and how it impacts different individuals. We thought we’d help by putting together a few case studies to show how it works in practice.

Latest comment from Trevor Greetham, Head of Multi Asset, Royal London Asset Management on the impact of the UK’s vote to leave the European Union.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

The Pension Policy Institute (PPI)’s recent report “Value for money in DC pensions” tries to identify factors by which people can assess whether their pension offers fair value for money (VFM). Fiona Tait provides an overview of the findings.

Delivering a decent drawdown review process takes time and resources. This article looks at how you can manage drawdown clients in a more cost effective way.

6 April 2016 brought in changes to employer duties for directors and partners in limited liability partnerships. Here we explain exactly what’s changed.

There were no changes to carry forward announced in the last budget, but advisers and their clients should be aware of how to treat the 2015/16 tax year when using carry forward. This was affected by the alignment of pension input periods (PIPs) to tax years from 8 July 2015.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

Royal London’s Submission to the Work and Pensions Committee.

According to George Osborne "people like ISAs – because they’re simple". Fiona Tait is not convinced…

Auto enrolment has been a resounding success to date. Six million more people are saving for retirement¹ and opt-out rates remain low². But what happens when you introduce a shiny new investment option aimed at some of these very savers?

Pension coverage among the self-employed is not just low but it is falling and has now reached crisis levels.

Pension specialist, Fiona Tait, takes a look at the Financial Advice Market Review (FAMR) and assesses the three areas where it suggests improvements can be made.

Steve Webb, our Director of Policy and External Communications, considers the new Lifetime ISA

On 16 February the High Court overturned the Pension Ombudsman’s decision in the case Hughes versus Royal London and ruled that we could not block a transfer request to a newly-established SSAS, despite our concerns about the appropriateness of the transfer.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs).

How Royal London’s workplace pensions are providing value for money

Royal London firmly believes in the value delivered to clients by financial advisers, not just for one-off events but on an ongoing basis. 

We take a look at the Pensions Regulator’s latest auto enrolment compliance bulletin and the lessons that can be learned from it.

Steve Webb, our Director of Policy and External Communications, provides a summary of Royal London's latest policy paper.

From 6 April 2016 we will no longer support commission or Financial Adviser's Fee for our auto enrolment workplace personal pension schemes.

Thanks to automatic enrolment more people are now saving for retirement but are they saving enough?

Most individuals age 25 or over on the national minimum wage (NMW) will see their salary increase by 50 pence per hour from 1 April 2016.

On 6 April 2016, the lifetime allowance (LA) will reduce from £1.25 million to £1 million for tax years 2016/17 and 2017/18.

Global equity stock markets have had a poor start to the year.

We’re contacting customers about pensions flexibility and other enhancements to our pensions.

Despite the fact that 6 million people are cohabiting couples in the UK, current bereavement benefits legislation ignores them completely.

Six months into freedom and choice the FCA are continuing to monitor consumer choices in order to identify high risk activities and introduce any necessary changes to regulation. We summarise their latest report.

With a number of changes to pension tax relief due to be implemented in April, and even more expected to result from the March Budget, 2016 is not a year where financial advisers will be looking for things to talk about with their clients.

Welcome to ProfitShare

Eric Holt, Head of Credit at Royal London Asset Management, discusses the conundrum facing fixed income investors in 2016.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios (GPs) and Governed Retirement Income Portfolios (GRIPs). 

It's been quite a year for pensions. Change, more change, and proposed changes to the changes.

We have appointed James Hay Partnership (JHP) as our new SIPP third party administrator.

The new State Pension (nSP) will be implemented at a maximum flat rate of £155.65 per week in 2016/17. This is good news for some, not so good for others.

The calm before the storm.

For Royal London Asset Management (RLAM), being a responsible investor comes with the territory as one of the UK's leading fund management companies. Done properly, responsible investing can act as another source of outperformance.

Royal London are now live with XPLAN for policy valuations.

On 6 April 2015 new legislation came into force that introduced new responsibilities for trustees of occupational money purchase pension schemes. 

Our response to 'Strengthening the Incentive to Save' part two.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios and Governed Retirement Income Portfolios (GRIPs). 

We've achieved 5 stars for service for the 7th year running.

You'll see some changes to this website as our protection businesses rebrand to Royal London.

Royal London’s report into retirement savings was published on 30 September.

Our response to 'Strengthening the Incentive to Save' part one

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios and Governed Retirement Income Portfolios (GRIPs). 

Royal London have published research into retirement savings in the UK. Here we look at some of the key findings.

Following the introduction of the new pension freedom, Royal London commissioned independent research to determine whether our customers understood the implications of withdrawing money from their pension plan.

With an estimated 1.8 million employers still to stage, the chances of more employers failing to comply will increase.

Death benefits are still hot on our list of frequently asked questions, so here's a simple overview incorporating all the recent changes.

The Government is changing the rules for short service refunds on DC occupational schemes from 1 October 2015. 

Designed for taking income, the GRIPs hit their three year milestone.

We've got a long and proud history when it comes to product innovation and investment solutions. Our latest example proves we're by no means finished just yet.

We summarise the issues raised in this consultation on possible barriers to people switching their pensions to access the new pension freedoms.

We've trawled through the recent Pension Regulator's compliance reports, strategy document, press releases and research findings to bring you the highlights in numbers.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, responds to the sharp equity market sell off.

Following the announcement of this review, the financial services community has a massive opportunity for a collective 'I told you so…'

Part of April's new pension legislation saw the introduction of nominee and successor flexi-access drawdown.

A number of industry commentators have rejected the idea of ISA-style pensions. Here we give our views and the reasons why we're also against this move.

The industry's ability to bend to the new pension flexibilities has come in for a bit of bad press. Here we look at what's actually been delivered and the benefits clients can expect to see.

Here's a quick round-up of  the events held across the UK for PFS members throughout April and June this year.

Trevor Greetham, Head of Multi Asset at Royal London Asset Management, has made a tactical change to the asset allocation of the Governed Portfolios and Governed Retirement Income Portfolios (GRIPs).

Now that we are a few months into a new pensions regime and our new Pensions Minister is officially in office, let’s pause for a moment and see how it all has gone so far.

OK, show of hands please. Who has ever thought of cricket and default funds at the same time?

We summarise the issues raised and questions posed by the consultation announced by the chancellor in his summer Budget.

We're mailing trustees, employers and customers to tell them about changes to their pension plans to cater for the new pension flexibility.

Supporting you through the change.

Last updated: 16 Aug 2017

This website is intended for financial advisers only and shouldn't be relied upon by any other person. If you are not an adviser please visit royallondon.com.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London EC3V 0RL.