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You searched for the term DB transfers Your search returned the following 40 results...
 
  • Defined benefit transfers and the lifetime allowance - Royal London for advisers

    Defined benefit transfers and the lifetime allowance Clare Moffat 28 August 2018 Share: Share: Clare Moffat looks at the planning implications of DB transfers and the LTA. Many clients have been fortunate enough to see large defined benefit transfers recently. But these often come with a potential...

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  • Helping trustees with DB transfers - Royal London for advisers

    - Royal London for advisers - Royal London for advisers Helping trustees with DB transfers 25 September 2018 Share: Share: Our policy paper helps pension trustees steer the right... Is there a safe harbour in the triage storm? - Royal London for advisers ‘triage’ clients who approach them about a potential DB to DC pension transfer. Earlier this year, the FCA expressed concern that in too many cases... Last updated: 25 Sep 2018...

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  • Defined benefit (DB) transfers - Royal London for advisers

    How we’re dealing with DB pension transfers Defined benefit (DB) transfers are very topical just now, so we’re setting out our stall and detailing how we’ll accept transfers going forward. We’ve identified the types of business that we will and won’t accept, along with some key points about how...

  • Pension news from 2018 - Royal London for advisers

    ...advisers differ in their approach to pension transfer and whether there's a need for standardisation. Helping trustees with DB transfers Sep 25 2018 Our policy paper helps pension trustees steer the right course in a world of large-scale DB pension transfers. Defined benefit transfers and the lifetime...

  • Steve Webb looks back at 2018 in pensions - Royal London for advisers

    Steve Webb looks back at 2018 in pensions Steve Webb 19 December 2018 Share: Share: From DB transfers to Brexit: Steve Webb considers the big stories in pensions from the last 12 months. Transfers One of the dominant pension stories of 2018 was the large numbers of people taking advantage...

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  • FCA produces new rules for Pension Transfers - Royal London for advisers

    ...with this ruling, it isn’t a great leap as the FCA acknowledges most advice on transfers is already given as a personal recommendation Begin with the assumption a transfer is not suitable for the client. CP17/16 implied the FCA was ready to move to a neutral starting point for pension transfer...

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  • Is there a safe harbour in the triage storm? - Royal London for advisers

    ‘triage’ clients who approach them about a potential DB to DC pension transfer. Earlier this year, the FCA expressed concern that in too many cases ‘triage’ was straying into advice but without the full processes that would normally surround full-blown advice. While a further statement from the FCA...

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  • Latest updates from Steve Webb - Royal London for advisers

    ...the big stories in pensions from the last 12 months. Is there a safe harbour in the triage storm? Sep 25 2018 Steve Webb looks at how advisers differ in their approach to pension transfer and whether there's a need for standardisation. Helping trustees with DB transfers Sep 25 2018 Our policy paper helps...

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  • DB transfers – one more factor to consider - Royal London for advisers

    DB transfers – one more factor to consider Jim Grant 30 January 2017 We look at how higher DB transfer values could cause a lifetime allowance issue and how that affects the advice process. Advisers are receiving an increasing number of requests from clients looking to transfer their pension from...

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  • DB Transfer Showstoppers - Royal London for advisers

    DB Transfer Showstoppers Jim Grant 25 August 2017 Share: Share: 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. Equalisation of pensions Prior to the Barber case in 1990, DB...

  • Our Brexit preparations - Royal London for advisers

    ...in pensions - Royal London for advisers Steve Webb looks back at 2018 in pensions Steve Webb 19 December 2018 Share: Share: From DB transfers to Brexit: Steve Webb considers the big stories... Navigating market risks in 2019 - Royal London for advisers ...deciding which risks are really opportunities and which are best neutralised. While the current economic expansion is increasingly mature, further... Last updated: 21 Feb 2019...

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  • Pension news from 2017 - Royal London for advisers

    ...price. DB Transfer Showstoppers Aug 25 2017 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. We’re proud to win more awards Jul 25 2017 Thanks for taking the time to vote for us...

  • Steve Webb: Is it time for the care pension? - Royal London for advisers

    Steve Webb 19 December 2018 Share: Share: From DB transfers to Brexit: Steve Webb considers the big stories... About the author Steve Webb Director of Policy and External Communications Steve Webb is Director of Policy and External Communications at Royal London. Before this he was Minister of State...

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  • The curse of long-term cash - Royal London for advisers

    ...of contributing into an adult son or... Steve Webb looks back at 2018 in pensions - Royal London for advisers Steve Webb looks back at 2018 in pensions Steve Webb 19 December 2018 Share: Share: From DB transfers to Brexit: Steve Webb considers the big stories... Steve Webb: Is it time for the care...

  • How long does your client’s money need to last? - Royal London for advisers

    Steve Webb looks back at 2018 in pensions Steve Webb 19 December 2018 Share: Share: From DB transfers to Brexit: Steve Webb considers the big stories... Steve Webb: Is it time for the care pension? - Royal London for advisers Steve Webb: is it time for the care pension? Steve Webb 26 February 2018...

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  • Steve Webb webinar - The pensions policy agenda in 2018 - Royal London for advisers

    ...they're likely to make. Watch a recording What will you learn? How the landscape for DB to DC transfers could be affected by the Select Committee inquiry and announcements by the FCA and the Pensions Regulator. How the DB White Paper could affect the future shape of Defined Benefit pensions. The impact...

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  • Steve Webb: What to expect from April's contributions increase and how to help your clients - Royal London for advisers

    Webb looks back at 2018 in pensions - Royal London for advisers Steve Webb looks back at 2018 in pensions Steve Webb 19 December 2018 Share: Share: From DB transfers to Brexit: Steve Webb considers the big stories... About the author Steve Webb Director of Policy and External Communications Steve Webb...

  • FCA consults further on pension transfer advice - Royal London for advisers

    , alongside its much awaited response PS18/6 to the previous consultation Advising on Pension Transfers. DB to DC transfers are a hot topic in the market, and we want to hear your views. Look out for our survey from Steve Webb later in the week, where you can give us your thoughts. Let's look at what...

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  • Pension Landscape 2017 webinar - Royal London for advisers

    ...undertaken. Register now  Steve will discuss: What the 'year of two Budgets' is likely to mean for changes to pension tax relief. The latest policy paper on the implications of long-term investing in cash. Our new ‘good with your money’ guides on the pros and cons of DB to DC transfers. What to expect from...

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  • New FCA rules on pension transfer values set to shake up transfer market - Royal London for advisers

    ...the scheme, whilst those with the least generous transfer values might face pressure from members to increase the amount on offer.  In addition, where a client has rights under more than one DB scheme, the relative generosity of the transfer value on offer from each scheme could be a factor used...

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    Defined Benefit

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  • Pensions Exemption

    Appropriate independent advice in respect of conversions and transfers of pension scheme benefits Who is likely to be affected? Employers running a defined benefit to defined contribution pension scheme transfer exercise on or after 6 April 2015. Employees and former employees who are members...

  • FReedom & choice

    ...and divorced Example - how IHT might work on transfer He has 2 adult children He transfers his DB pension to a DC scheme and dies 2 months later The transfer of value is £1 million 20 Pension Death benefits Before figure – this depends on the open market value (high as death was soon after transfer...

  • FReedom & choice

    ...has 2 adult children He transfers his DB pension to a DC scheme and dies 2 months later The transfer of value is £1 million PENSION DEATH BENEFITS EXAMPLE – HOW IHT MIGHT WORK ON TRANSFER Before figure – this depends on the open market value (high as death was soon after transfer) HMRC state...

  • 1901-annual-lifetime-allowance-guide.pdf

    ...requirements which apply to DB transfers, it would be easy to forget that much of COBs 19 which sets out FCA’s rules and guidance on these transfers also applies to pension opt-outs. COBs 19.1.1 provides that the rules relating to the provision of advice of pension transfers also apply to the provision...

  • 1906-annual-lifetime-allowance-guide.pdf

    A WORD ON THE NHS 34 Why paying a tax charge isn’t always a bad thing 1. Regulatory Background Amidst all the debate relating to the evolving regulatory requirements which apply to DB transfers, it would be easy to forget that much of COBs 19 which sets out FCA’s rules and guidance on these transfers...

  • Defined benefit schemes part2 - Royal London for advisers

    ...a transfer as pension freedoms meet the client’s needs and objectives better than the DB scheme. Personal Finance Society guidance: In February 2017 the Personal Finance Society (PFS) released their good practice guide on “pension transfers from defined benefit to defined contribution”. At only 8...

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  • This season’s hot topic: Part 1 - Royal London for advisers

    This season’s hot topic: Part 1 Justin Corliss 30 May 2017 Share: Share: 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. Pension transfers are this season’s hot topic...

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  • Helping solicitors with inheritance tax and pensions - Royal London for advisers

    . In addition, if the member had the right to bind the scheme then the benefits are subject to IHT. Find out more about the difference between discretion and direction. Transfers Since pension freedoms, we’ve seen an increase in transfer values with many clients transferring their defined benefit (DB) schemes...

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  • Annual allowance - Royal London for advisers

    ...is the annual allowance? Under a money purchase scheme this is simply the value of the contributions paid during the pension input period. However, under a defined benefit (DB) or cash balance (CB) scheme it is the increase in the value of a member's rights during the pension input period. Within...

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    Information and guidance

  • Safeguarded benefits - Royal London for advisers

    (TVC)) which aims to show the cost of providing the same benefits as the DB scheme but in a DC scheme. FCA - Policy Statement PS15/12 - Proposed changes to our pension transfer rules: Feedback on CP15/7 and final rules FCA – Policy statement PS18/6 - Advising on Pension Transfers – feedback on CP17/16...

  • Money purchase annual allowance - Royal London for advisers

    ...or TAA. For the avoidance of doubt, this includes contributions made to any other DC plans the individual has in addition to the one they've taken benefits from. What about DB? Accrual under defined benefits (DB) arrangements is not tested against the MPAA, but will be included in the test of total...

  • Why is Staveley important for advisers when it comes to transfers? - Royal London for advisers

    ...and their beneficiaries is crucial. A DB to DC transfer could mean there are death benefits to pass on, so the tax charge may be worth it. The same could be true for a DC to DC where it’s moving from an occupational scheme with limited death benefits to a fully flexible scheme.  However, moving from...

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  • steve-webb-gpp-policy-paper.pdf

    ...far? 25. How much should you tell them? A discussion paper for DB plan trustees (with Eversheds Sutherland) 26. Simplifying Pension Benefits – is it time for the Pensions Pound? 27. Pension Tax Relief: Where will the Chancellor’s Budget axe fall? 28. What will the FCA’s new rules mean for DB to DC...

  • 1410-hmrc-removal-of-pension-death-tax.pdf

    ...for guaranteed annuities. How this applies to defined benefit (DB) pensions The change to the tax rate for defined contribution (DC) savings taken as a lump sum also applies to DB pensions. Under 75: pension not yet in payment - If the individual dies before 75 and hasn't started to take their pension...

  • The lifetime allowance ‘timebomb’ - Royal London for advisers

    ...contributions.  It finds that an additional 1.25 million people could be expected to exceed the LTA if they don’t take action to prevent this from happening. Defined benefit pension savers Looking in more detail at those at risk, the largest group remains those who are building up DB pensions. Despite...

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  • What triggers the MPAA? - Royal London for advisers

    ...the alternative annual allowance (AAA) for defined benefit (DB) savers.  The MPAA only applies to DC savings; savers with both DC and DB savings benefit from the full annual allowance of £40,000 of which up to £4,000 may be paid into DC plans, leaving an AAA of £36,000 that applies to their DB rights...

  • Contributions and tax relief - Royal London for advisers

    ...rules for DC and DB arrangements. Transitional rules for DC schemes Transitional rules for DB schemes This article explains how pension input amounts operated since the 8 July 2015 budget announcements.  Pension input periods and pension input amounts (post 8 July 2015 rules) This article explains how...

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    Information and guidance

  • Benefit crystallisation events and the lifetime allowance charge - Royal London for advisers

    , the crystallised value is tested against the LTA. The crystallised value for a Defined Contribution (DC) scheme is the amount of the fund whereas for a Defined Benefit (DB) scheme it’s 20 x the pension taken plus the tax-free cash. Karen's story Take Karen, who took benefits with a value of £125,000 in 2015...

  • Pensions A to Z - Royal London for advisers

    ...papers - State Pensions 2017: FAQs for MPs I In specie contributions In specie transfers In specie transfers and contributions - what's the difference? Increases in minimum contributions for automatic enrolment pensions Individual protection Investment rules J L Lifetime allowance Lifetime...

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  • PowerPoint Presentation

    Reaching age 75 Relevant lump sums Relevant lump sum death benefits Transfer to QROPS Prescribed authorised member payments LTA VALUATION • Defined Benefit (DB) schemes - 20 x the first year’s payment* + any lump sum. • Uncrystallised defined contribution (DC) schemes valued against fund value. • Pre...

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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. The firm is on the Financial Services Register, registration number 117672. It provides life assurance and pensions. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London, EC3V 0RL.