As I am sure you will be aware the chancellor’s budget last week throws a few curve balls for the financial service industry to get to grips with. However, in true ATEB style we are getting ahead of the game and will be pushing out updates later this evening in readiness for some of the changes which start from 27th March 2014.
The updates we have made are tweaks to wordings within the Glossary of Terms and Reasons/Disadvantages of Product Recommendations. These changes focus on CGT limits, changes to drawdown rules and lifetime/ISA allowances.
We are also aware of other changes which will apply later this year and we will update accordingly.
If you have any questions or queries please do not hesitate to contact us here.
Pension Transfers – considering a workplace pension
Alistair MacDougall Compliance Defined Benefit, FCA, Pension, Pension Transfer, PI, Switch, transfer
We recently reviewed a pension transfer report where the client was recommended to transfer out of the defined benefit scheme into the client’s pre-existing SIPP. We considered that the recommendation to transfer appeared to be appropriate. However, the client had what the FCA calls an ‘available qualifying scheme’, more commonly referred to as a […]