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You searched for the term DB transfers Your search returned the following 40 results...
 
  • DB transfers – three things to think about - Royal London for advisers

    DB transfers – three things to think about Advisers are receiving an increasing number of requests from clients looking to transfer their pension from defined benefit schemes to personal pensions. Three things to think about Defined benefit transfers are a complicated area of advice...

  • Helping trustees with DB transfers - Royal London for advisers

    . Related content show more DB transfers – three things to think about - Royal London for advisers DB transfers – three things to think about Advisers are receiving an increasing number of requests from clients looking to transfer their pension from... Defined benefit transfers and the lifetime...

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  • Defined benefit transfers and the lifetime allowance - Royal London for advisers

    ...their beneficiaries’, circumstances. Related content show more DB transfers – three things to think about - Royal London for advisers DB transfers – three things to think about Advisers are receiving an increasing number of requests from clients looking to transfer their pension from... Defined benefit...

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

    Charging models including contingent charging Risk assessment Triage services Client attitude to transfer risk . Related content show more DB transfers – three things to think about - Royal London for advisers DB transfers – three things to think about Advisers are receiving an increasing number...

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  • Pension news from 2018 - Royal London for advisers

    ...the implications of IHT on pensions and how this can affect their clients. Helping trustees with DB transfers 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 allowance Clare Moffat looks...

  • 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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  • 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 members access DB transfer advice - Royal London for advisers

    Helping members access DB transfer advice Join Steve Webb, Partner at LCP and Justin Corliss as they discuss the changes to FCA regulations around DB transfers, including the ban on contingent charging, the growing pressures on advisers and the rising costs of professional indemnity insurance...

  • How inheritance tax might work on transfer (Deceased estate taxed in Scotland) - Royal London for advisers

    . In this case study we look at Laura. Laura lives in Scotland, is divorced and terminally ill. Earnings in the tax year of £150,000. She has 2 adult non-dependent children. She transfers her DB pension to a DC scheme and dies 2 months later. The transfer of value is £1 million. As Laura dies within...

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  • How inheritance tax might work on transfer (Deceased estate taxed in England) - Royal London for advisers

    ...we look at Mark. Mark lives in England, is divorced and terminally ill. Earnings in the tax year £150,000. He has 2 adult non-dependent children. He transfers his DB pension to a DC scheme and dies 2 months later. The transfer of value is £1 million. As Mark dies within 2 years of the transfer...

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  • Transfers explained - Royal London for advisers

    ...clients looking to transfer their pension from defined benefit schemes to personal pensions. In this article we look at the 3 main topics we get questions on. DB transfers – three things to think about More support needed for DB transfer advice - new research from Royal London and LCP A joint research...

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  • DB pension transfer advice consultation - Royal London for advisers

    DB pension transfer advice consultation Robin Nimmo 20 December 2019 Share Share We responded to the latest FCA consultation paper CP19/25 on DB pension transfer advice which closed at the end of October 2019. Here we look at what we said in our response. Banning contingent charging The most...

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  • Pensions CPD hub - Royal London for advisers

    ...of the regulator. Watch webinar Helping members access DB transfer advice webinar After watching this joint webinar with LCP and Royal London, you’ll understand how to: Describe changes in regulatory attitude to pension transfers since the inception of pension freedoms in 2015. Identify adviser...

  • 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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  • Pensions A to Z - Royal London for advisers

    ) How inheritance tax might apply to a pension transfer (deceased estate taxed in Scotland) I In specie transfers In specie transfers and contributions - what's the difference? Income drawdown - capped income drawdown and review dates Income drawdown - flexi-access drawdown Income drawdown...

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  • Safeguarded benefits - Royal London for advisers

    ...an individual needs to take advice to give them up.   Key facts Advice on pension transfers generally must be provided by, or checked by, a Pension Transfer Specialist. If they are only checking the transfer they must check the entire process, not just the numerical analysis. An individual...

  • Death benefits: discretion or direction? - Royal London for advisers

    ...benefits. That would include most transfers from defined benefit (DB) to defined contribution (DC) schemes and DC to DC transfers where the ceding scheme didn’t provide flexible benefits and the receiving scheme did.  However, where it’s a straightforward DC to DC transfer where the same range of death...

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

    , 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. Sometimes...

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

    ...in more detail at those at risk, the largest group remains those who are building up DB pensions. Despite the big decline in DB pensions in the private sector, more than a million private sector workers are still actively building up DB rights and around five million public sector workers are doing so...

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  • Pension news from 2019 - Royal London for advisers

    Pension news from 2019 Why paying a tax charge isn’t always a bad thing We’ve updated our adviser policy paper and it’s ready to download. DB pension transfer advice consultation We responded to the latest FCA consultation paper CP19/25 on DB pension transfer advice which closed at the end...

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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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  • Contributions and tax relief - Royal London for advisers

    ...transactions can involve pension schemes in two different ways - in specie transfers and in specie contributions. This article explains the difference. In specie transfers and contributions - what's the difference? CPD | Tax relief and annual allowance masterclass – Here we dig deeper...

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  • Pensions - contact us - Royal London for advisers

    ...customerqueries@royallondon.com Fax number 0131 524 8850 Write to us Royal London Royal London House Alderley Park Congleton Road Nether Alderley Macclesfield SK10 4EL Opening hours Monday to Friday 8am–6pm Defined benefits – Final Salary DB Individual - buyout cases for DB schemes that have wound up Phone...

  • Money purchase annual allowance - Royal London for advisers

    ...other defined contribution plans the individual has in addition to the one they've taken benefits from. What about DB? Accrual under defined benefits schemes is not tested against the money purchase annual allowance, but will be included in the test of total contributions against the annual...

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

    ...works in practice.  Case study-1 Simon Image description Case study-2 Rex Image description Case study-3 Ruby Image description *for a DB scheme, this would be the pension input amount minus any employee contributions. Case study-4 Sebastian Image description Case study-5 Karen Image description Anti...

  • 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...

  • Pensions and divorce: our top five frequently asked questions - Royal London for advisers

    ...from a DB scheme where the only option is a transfer out, are the pension transfer permissions required? As the ex-spouse/civil partner is not giving up any benefits in the DB scheme, the pension transfer permissions are not required. Are there any pensions which can’t pay a pension credit to an ex...

  • 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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  • Lifetime allowance - All you need to know - Royal London for advisers

    ...are transferred overseas? A transfer overseas can only be to a Qualifying Recognised Overseas Pension Scheme (QROPS) otherwise it’s an unauthorised payment. Unlike a recognised transfer between two UK registered pension schemes, a transfer from a UK scheme to a QROPS is a benefit crystallisation event (a benefit...

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

    ...when: the individual chooses to take them on their death at age 75 on transfer overseas There are a number of benefit crystallisation events, each one triggers a test against the lifetime allowance. We’ll cover the more frequent benefit crystallisation events we receive queries on. Some common events...

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    Defined Benefit

  • Managing a drawdown plan through volatile markets - Royal London for advisers

    Defined Benefit (DB) to Defined Contribution (DC), the coronavirus pandemic will probably be the first time some clients will be faced with investment management and the associated risks – and making sure their pension savings are on the right track to meet their retirement needs. The same applies...

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  • 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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  • Transfers - frequently asked questions - Royal London for advisers

    Transfers - frequently asked questions Q: Can benefits be transferred between pension schemes? A: Yes, if it's a 'recognised transfer', it will be an authorised member payment with no adverse tax consequences. PTM100010: Transfers: essential principles Q: Cheryl has just been granted a Pension...

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  • Meet the team - Royal London for advisers

    transfers few and far between? Destination workplace FCA policy statement signals big changes in the pension transfer advice market A closer look at consultation paper CP19/25 FCA announces further action on defined benefit transfers About the author Moira Warner Senior Pension Development...

  • Overseas transfers - Royal London for advisers

    Overseas transfers Can your client transfer their pension savings to a pension plan in another country and are there any tax implications? So what's this all about? What is a QROPS? What does overseas mean? What are the options if the customer moves overseas and has a UK registered pension scheme...

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  • Transitional rules for DC schemes - Royal London for advisers

    ...purchase savings didn't exceed the MPAA, the alternative annual allowance didn't apply. The amount of ‘ordinary' annual allowance that applied in the post-alignment tax year was therefore £38,000 (£80,000 - £42,000). Related articles Transitional rules for DB schemes Note The information provided is based...

  • June 2010 Budget - Royal London for advisers

    ...parties to look at issues such as: how pension accrual in DB schemes would be valued, how to ensure basic rate tax payers aren't subject to the restriction, whether there should be options on how to pay any charges, and how compliance and delivery would operate in practice. The anti-forestalling...

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  • Why transfers in drawdown (TIDs) will be a key theme for advisers and the industry - Royal London for advisers

    ...to maximise their retirement income and this is evident in the sharp increase in adviser usage of our tools and reports which model income sustainability.  We've also seen the number of transfers or switches from one drawdown provider to another increase. This process is called ‘transfer in drawdown...

  • FCA policy statement signals big changes in the pension transfer advice market - Royal London for advisers

    FCA policy statement signals big changes in the pension transfer advice market Justin Corliss 30 June 2020 Share Share Our Senior Pensions Development and Technical Manager, Justin Corliss, considers the main points of policy statement PS20/6 that impact the provision of advice on pension transfers...

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  • FCA Retirement Outcomes Review final report and consultation - Royal London for advisers

    ...defined benefit (DB) schemes to their employees, meaning future retirees will be more reliant on defined contribution (DC) plans to provide retirement income. Auto enrolment has resulted in huge numbers of employees ‘defaulted’ into decision-free pension saving, only to be faced with an active...

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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.