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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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  • 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...

  • Helping trustees with DB transfers - Royal London for advisers

    Helping trustees with DB transfers 25 September 2018 Share Share Our policy paper helps pension trustees steer the right course in a world of large-scale DB pension transfers. Few issues divide the pensions’ world like transfers from defined benefit (DB) to defined contribution (DC) schemes...

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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 specialists...

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

    ’ 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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  • FCA announces further action on defined benefit transfers - Royal London for advisers

    ...that, when advising on DB transfers, advisers should start from the position that a transfer is not suitable. It is deeply concerning and disappointing to see that transfers are still being recommended at the levels we have seen. Of course, high level numbers like these can miss some of the detail...

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  • 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 of pension...

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  • Pension news from 2018 - Royal London for advisers

    ...with our customers. Is there a safe harbour in the triage storm? Nov 26 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 Nov 26 2018 Our policy paper helps pension trustees steer...

  • 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? Nov 26 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 Nov 26 2018 Our policy paper helps...

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

    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... How long does your client’s money need to last? - Royal London for advisers How long does your client’s money need to last? Steve Webb 24 January 2019...

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

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

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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

    ...the potential benefits 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 in... Steve Webb...

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

    ...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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  • 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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  • 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...

  • 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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  • Our statement on consultation paper 19/25 - Royal London for advisers

    , and to that end we feel consumers continuing to have access to affordable advice is of paramount importance. Royal London will continue to work with relevant groups to campaign for a statutory right to partial transfers, and for advice fees to be payable from DB schemes. In addition we will maintain...

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  • A closer look at consultation paper CP19/25 - Royal London for advisers

    ...by limiting firms’ ability to recommend transfers that incur unnecessarily high ongoing adviser and product charges Improve charge disclosure and implement checks on customer understanding Increase continuous professional development requirements for pension transfer specialists (PTS) Improve data...

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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

  • 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...

  • 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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  • 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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  • Contributions and tax relief - Royal London for advisers

    ...for overseas individuals In specie transactions can involve pension schemes in two different ways - in specie transfers and in specie contributions. This article explains the difference. In specie contributions In specie transfers and contributions - what's the difference? Annual allowance...

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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...

  • 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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  • PRESENTATION TITLE

    . • other factors impacting suitability. • regulatory requirements. ANNUAL, MONEY PURCHASE AND TAPER ALLOWANCE A REFRESH 3 THE ANNUAL ALLOWANCE (AA) AA • £40,000* • Charge on pension input amount (PIA) exceeding AA in the PIP • PIPs now aligned with tax years • PIA: • DC = contributions paid • DB...

  • Tapering of annual allowance for high incomes - Royal London for advisers

    ...employer contributions. Calculating adjusted income and threshold income Case studies Take a look at our case studies to understand how the tapered annual allowance works in practice.  Case study-1 Simon Case study-2 Rex Case study-3 Ruby *for a DB scheme, this would be the pension input amount...

  • Pensions - contact us - Royal London for advisers

    ...to us Royal London Royal London House Alderley Road Wilmslow Cheshire SK9 1PF Opening hours Monday to Friday 8am–6pm Defined benefits – Final Salary DB Individual - buyout cases for DB schemes that have wound up Phone number 0131 652 5172 Email address NDBS@royallondon.com Fax number 0131 524 8860...

  • Pension input periods and pension input amounts - Pre 2015 Rules - Royal London for advisers

    ...for DB schemes Pension input periods and pension input amounts (Post 8 July 2015 Rules) Key facts Pension input period: This is the period of time used to measure contributions paid/benefits accrued for testing against the annual allowance. The annual allowance used is the one that's in force...

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    Information and guidance

  • Transitional rules for DB schemes - Royal London for advisers

    Transitional rules for DB schemes (pre 6 April 2016) July 2015 Budget – aligning pension input periods for DB schemes Key facts All pension input periods open on 8 July 2015 automatically ended on 8 July 2015. The next PIP for everybody ran from 9 July 2015 to 5 April 2016. Since 6 April 2016 all...

  • 1704-profitshare--trustee-db-sample.pdf

    0370 850 3024 Mon – Thurs, 8.00am – 6.00pm Fri, 8.00am – 5.00pm DB1@royallondon.com employer.royallondon.com Mr A Sample Chartered Financial Planners Sample House Sample Street Sample Town Sample County AA1 1AA 27 March 2017 Scheme name: Scheme Name Investment number: 99999999 Dear Sir / Madam Good...

  • Carry forward - Royal London for advisers

    ...allowance charge in that year. For more information, see: Transitional rules for DC schemes (pre 6 April 2016) Transitional rules for DB schemes (pre 6 April 2016) Our case studies to find out how carry forward works in practice Carry forward in the 2015-16 transitional year Money Purchase Annual Allowance...

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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.