UK Defined Benefit Scheme — Pension and Superannuation Blog

Baillie Gifford Takes Out Top Prize at FTA Investment 100 Club Award

For the third consecutive year, Ranfurly Superannuation’s Fund Manager, Baillie Gifford has won the Financial Times Adviser top award. The Edinburgh-based investment management firm bet out nearly 100 other nominees to take out first place in the coveted Large Investment Group category.

The criteria are based on short-term and long-term outperformance and firms are to demonstrate real potential for the next five years. Judges noted that they felt that Baillie Gifford’s numbers were simply “too good to ignore”, after a year going from strength to strength.

Awards, Baillie Gifford, Fund Manager, New Zealand, Overseas Pension Transfer, UK Defined Benefit SchemeEmilie Gallaugher20 January 2020Ranfurly Strategic LimitedBaillie Gifford, awa, new, New Zealand, UK Pension Transfer to NZ, UK Pension Transfers, Pension Scheme, Ranfurly

How a No-Deal Brexit Could Affect Your Pension

With on-going uncertainty surrounding Brexit, the talks of dramatic policy changes under the new Government, being aware of the potential impacts Brexit could have on your UK-based pension may help you get and remain ahead with your pension. Prime Minister Boris Johnson has signalled that Britain will leave the EU by the October 31 extended deadline with or without a deal if no agreement has been reached.

Brexit, Overseas Pension Transfer, Pension Transfer Advice, Superannuation, UK 2022 Election, UK Defined Benefit SchemeEmilie Gallaugher13 September 2019Ranfurly Strategic LimitedSuperannuation, financial news, Brexit, Retirement, Pension Scheme, Overseas Pension Transfer, Defined benefit pension scheme, Defined contribution, QROPS NZ, UK Pension Transfer to NZ

A Rise in the Number of QROPS Pension Transfers in 2018-19

Her Majesty’s Revenue and Customs (HMRC) has recorded an increase in the number of individuals that have transferred their pensions to a Recognised Overseas Pension Scheme (QROPS) in the 2018-19 financial year. The released data shows that there has been a 6% increase in the volume of transfers out of registered UK pension schemes, a total value of £640 million.

Overseas Pension Transfer, UK Defined Benefit Scheme, Pension Transfer AdviceEmilie Gallaugher23 August 2019Ranfurly Strategic Limited Defined contribution, Defined benefit pension scheme, Pension Scheme, Overseas Pension Transfer, Bonds, Ranfurly, QROPS NZ, Superannuation, UK Pension Transfer to NZ

Are You Brexit Ready?

For many of those with their pensions tied up in UK schemes and looking to get out, the looming threat of a no-deal Brexit, may mean being even more proactive in planning your future in retirement.

Brexit, Overseas Pension Transfer, Pension Transfer Advice, UK Defined Benefit SchemeEmilie Gallaugher8 March 2019Ranfurly Strategic LimitedBrexit, Defined benefit pension scheme, Defined contribution, UK, Pension Scheme, Superannuation, Changes, UK pension transfer tax, New Zealand, QROPS NZ

25% Levy for Overseas Pension Transfers a Failure

Around 4,700 qualifying recognised overseas pension scheme (QROPS) transfers were carried out during 2017/18. Of these, only 30 transfers were required to pay the 25% Overseas Transfer Charge (OTC) that was introduced in March of 2017. Her Majesty’s Revenue and Customs had predicted £65 million in tax revenue from the tax, however, only £1.4 million has been raised since the enactment of the charge.

FCA, Overseas Pension Transfer, Superannuation, UK Defined Benefit SchemeEmilie Gallaugher23 October 2018Ranfurly Strategic Retirement, Defined benefit pension scheme, Superannuation, QROPS NZ, Overseas Pension Transfer, UK pension transfer taxComment

New Changes to UK Pension Rules

A recent report by the UK Financial Conduct Authority (FCA) found that 47% of advice on defined benefit to defined contribution pension schemes was 'unsuitable’. Following this, the FCA has introduced new rules and guidelines for pension transfer specialists and consultants.

FCA, UK Defined Benefit Scheme, Superannuation, Brexit, Overseas Pension TransferEmilie Gallaugher16 October 2018FCA, Overseas Pension Transfer, Superannuation, Defined benefit pension scheme, Pension Scheme, Retirement, Brexit, QROPS NZ, RanfurlyComment

Copy of UK Government Proposes E-Signatures to Increase Competitiveness Post Brexit

The Law Commission has recently proposed a programme of reforms that would allow Britain to remain competitive globally in the increasingly likely event that Britain will leave the European Union. One area of focus has been the integration of electronic signatures in the signing of documents.

Brexit, UK Defined Benefit Scheme, Overseas Pension TransferEmilie Gallaugher2 October 2018Ranfurly Strategic Limited Brexit, E-signatures, UK, Defined benefit pension scheme, Overseas Pension TransferComment

Changes In Pension Transfer Advice Prompts Those Wanting Transfers To Act Now.

With the recent confirmation by a number of UK advisory firms that they will not be giving advice to clients looking to transfer out if their pension schemes, it is recommended that those considering transferring out of their UK defined pension scheme do so sooner rather than later.

Overseas Pension Transfer, Superannuation, UK Defined Benefit SchemeEmilie Gallaugher21 September 2018Ranfurly Strategic LimitedOverseas Pension Transfer, Retirement, Defined benefit pension scheme, Updates, UK, FCAComment

Ongoing Brexit Uncertainty Ignites Fears of a Hard Exit

With Brexit negotiations having resumed in the past few weeks, fears of a ‘hard exit’ have ignited. A ‘hard’ Brexit is the option favoured by those strongly supporting Brexit. Likely resulting in the UK giving up full access to the single market and significantly tightening immigration.