Honan Financial Services Limited’s Post

A big thank you to Callum M. at The i Paper for covering today's discussion paper from The Society of Pension Professionals about the Lifetime Provider Model. Thanks also to all those involved in putting this paper together, including Jasmine Smiley, Faye Jarvis, Martin Willis and Steve Hitchiner. Read the i article here: https://lnkd.in/enZK-3wM Read the "Just One Pension?" paper here: https://lnkd.in/eHQavNRC #spp #pension #pensions #retirement #retirementplanning #policy #publicpolicy

After the deep speculation about proposed pension reforms prior to the Autumn Budget, we have pulled together a general overview of the decisions that Rt Hon Rachel Reeves and her team have made on pensions. Many of our clients are company directors and owners, who were concerned about the pre-budget media coverage, the impact of the announcements and the course of action that may now be required.  Have a read through our observations and guidance and please reach out if you would like to discuss the reforms further https://bit.ly/4i2RU65. #Pensions #RetirementPlanning #InheritanceTax #AutumnBudget

An excellent Dashboards summary here from Go Pensions ~ independent consultants - well worth the read!

I found this article particularly interesting because it offers insights into how the industry responded to the latest pension changes announced in Budget 2024. In his Spring Budget speech, Chancellor Hunt unveiled several alterations to pensions, including a reaffirmation of the commitment to the Triple Lock for the State Pension and adjustments regarding the concept of a 'lifetime' pension provider. Click on the link below to read the full article: https://postly.app/3TTP #Pensions #Budget2024 #FinancialPlanning #FinancialAdvisor

The next budget might make you poorer in retirement 🤬 The Treasury has contacted investment firms and asked about the potential impact of employers’ National Insurance being made payable on pension contributions 🤯 We don’t know what the Government are going to do and can’t predict the future, but… 🔮 If you’ve got a little money in your company bank account, why not maximise its value now rather than having to pay N.I. on it 📈 The budget is on the 30th! 😈 #retirement #invaluableadvice #pensions #treasury #navigationwealthmanagement

📣 Trustees and Pension Managers: ⏲ Are you dashboard ready and what does that mean?  💤 What happens if you do nothing? ⭐ Who can help? Take a look at our article which sets out the headline requirements and who can help. https://lnkd.in/eyCahuKU If you are interested in a chat about dashboards, Phil Tyson will be happy to hear from you. Phil Tyson Tina Oversby Dip.IEB APMI Chris Stanley Ravinder M Lisa Russell Susan Phillips FPMI #gopensions #pensionsadministration #pensionsadmin #pensions #dashboards #governance #projects #pensionsprojects

Pleased to report that The Society of Pension Professionals have today published their much anticipated discussion paper on government proposals for a Lifetime Provider Model - whereby savers have a single pension scheme throughout their lives irrespective of how many jobs they may have.   Although The Society of Pension Professionals paper acknowledges there may be some benefits from a Lifetime Provider Model, overall, the conclusion is that such an approach would be complex and costly and that there are better value, more effective alternatives such as the Government’s pension dashboards project. The paper is FREE and available to all using the link below so why not find out more and have a read: https://lnkd.in/eVMjvt55 #pension #pensions #potfollowsmember #pot4life #publicpolicy #policy #pensionspolicy 

The Chancellor announced important changes for DC pensions at the weekend, including disclosing their levels of investment in British businesses, costs, returns and comparisons to competitor schemes. Disclosure is generally poor in the UK, which impairs ability to understand where pensions are invested and how they perform. These changes will improve accountability. This is an important initiative, which should fundamentally change the approach to pensions. For far too long poor performance has been tolerated as well as an absence of recognition of the wider role pensions play in society. Read the full article here: https://lnkd.in/enr6XebF Charles Hall #pensions #ukmarkets #pensionreform

Around 150,000 pensioners in the UK receive under £100 a week in their State Pension this year, with gaps in National Insurance Records being the main culprit. This payment gap isn't new. Around half of the 3,407,567 people receiving the new State Pension got the full weekly amount last year, showing the disparity of how little pensioners actually receive. Pensioners can boost their State Pension by rectifying National Insurance gaps, which will be completed by April 2025. Read more here: https://heyor.ca/OmbgNf #Pensions #NationalInsurance #DWP

There's a great profile piece on The Society of Pension Professionals President Sophia Singleton of XPS Group in this weeks Corporate Adviser. A big thank you to Emma Simon for undertaking this interview. The article can be read in full here: https://lnkd.in/exynBXQu #pension #pensions #retirement #spp #dc #decumulation #financialeducation #finance #financial #publicpolicy #policy