From wrappers to withdrawals: Ten pension freedom tips for advisers

From wrappers to withdrawals: Ten pension freedom tips for advisers

clock

Product provider Standard Life has put together ten pointers for advisers highlighting the immediate risks and opportunities in the wake of the retirement reforms introduced in April.

The life company is suggesting urgent action to ensure pension death benefits are not lost due to legacy pension contracts, and that ISA assets are transferred to pensions as clients approach retirement to benefit from tax relief. It follows the introduction of widespread pension changes on 6 April. The ten tips for advisers encompass death benefits, tax, investment solutions, due diligence, policies and controls:   1 Find out if you have clients that could miss out - review legacy pensions to understand which contracts can support new flexibilities on death; 2 Prepare to t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pension freedoms and lessons from Down Under

Pension freedoms and lessons from Down Under

How the UK can build a more 'robust and supportive' system

Verona Kenny
clock 09 April 2025 • 4 min read
UK workers regret not learning about pensions sooner

UK workers regret not learning about pensions sooner

Over half admit to feeling out of their depth, research finds

Isabel Baxter
clock 08 April 2025 • 2 min read
Why is it so difficult to switch a pension? Navigating the transfer maze

Why is it so difficult to switch a pension? Navigating the transfer maze

‘If I didn’t work in pensions, I might have simply given up on many occasions

Lisa Picardo
clock 08 April 2025 • 4 min read