This Newsletter concentrates on the new pension drawdown rules, still in draft form and with some grey areas only recently resolved, but coming into effect in only a few weeks’ time. We set out the main rules and the effects they are likely to have in practice. Our business continues to move forward strongly and we outline the current stage in our development. Finally, looking at a subject everyone is possibly getting a bit bored with, we set out some brief thoughts on FSCS levies and who pays them.
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The new pension contribution rules for 2011 were announced a few weeks back, but it has taken a while to clarify some grey areas and work out the practical effects, and we have now produced some detailed notes with planning suggestions. We are told that the new pension drawdown rules will be published on 9 December, we will be taking these on board and letting you have our thoughts as soon as possible. We have also provided details of our fees for 2011 (mostly unchanged), our progress as a business and some warning noises about the use of EFRBS.
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We have just completed our first year of trading and we’re pleased with the outcome and have learned some interesting things along the way. The future looks promising too with the Budget changes generally being positive for SIPPs and SSASs and we look at the outcome in more detail.
We also catch up on developments on HMRC issues covered in our last Newsletter, to keep you up to date.
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Our Group SIPP launches this month and provides a pooled investment fund in an effective way. Typically it will appeal to business professionals wanting to use their pension money to buy property, but it works in any situation where pension funds are pooled.
We also cover a number of topical HMRC issues, with guidance on what is involved and what to look out for.
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We have continued to develop our systems with a new interactive SIPP application form and we have produced instructions for our comprehensive suite of illustration tools. Illustrations are particularly important – are you aware of all that needs to be done?
We revisit the comparison between annuities and income drawdown in the light of current developments. Finally, with 5 April rushing up, we confirm our deadlines for processing new business.
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5 April 2010 is now the main point of focus for pensions, with new contribution rules to grapple with and the change in minimum pension age. We set out our own guidance on these issues, to help advisers understand the new rules.
We also look at HMRC clarification on security for pension scheme loans and speculate on Conservative policy on annuitisation.
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A busy year comes to an end with yet more complication added to the contribution rules for high earners. We outline our own progress, the results of our online survey on helpful service and things we’d like to see happen in 2010. Read the rest of this post…
SIPP news hitting the headlines this month includes poor returns on cash deposits and talk of “pension busting” on certain products and services. Read the rest of this post…
This month has seen the launch of our Flexible Family Trust. Read the rest of this post…
There's a lot going on in the world of SIPPs and SSASs at the moment, so our latest Newsletter follows hot on the heels of the first one. Read the rest of this post…
Welcome to Curtis Banks PLC. This is the first of a series of regular Newsletters keeping you up to date with developments in the SIPP and SSAS market. Read the rest of this post…
