Stay up do date with relevant news and announcements related to pension, New Zealand superannuation regulation, overseas pension transfer and the Ranfurly Superannuation Scheme.
The Ethical Finance 2019 Summit is being held in Edinburgh and is being attended by over 200 leading finance experts, institutions, government officials and business representatives from around the world. Amongst those attending include Scotland's First Minister Nicola Sturgeon and the Archbishop of Canterbury and Baillie Gifford, who is the underlying fund manager of the Ranfurly Superannuation Scheme.
Read MoreWith 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.
Read MoreHer 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.
Read MoreTwo former employees of a New York-based investment advisory firm DeVere USA Inc, are accused by the US Securities and Exchange Commission(SEC), of providing pension transfer advice to hundreds of clients that may go against their best interest. In a conflict of interest which would see the employees receiving higher compensation from the pension transfer.
Read MoreAfter receiving the go-ahead, the Malta Financial Services Authority (MFSA) is implementing amendments that change the way QROPS providers handle transfers and deal with financial advisers. The amendments bring in stringent new rules both for advisers and asset/investment restrictions. Following news of these regulatory changes, Australian and New Zealand pensioners with their pensions in Malta-based overseas schemes are being urged to check whether their pension pots are at risk and whether their financial advisers can still act and work on their behalf.
Read MoreThe Malta Financial Services Authority (MFSA) published a newsletter in January confirming amendments to the country’s Retirement Pensions Act. The amendments bring in stringent new rules both for advisers and asset/investment restrictions. Following news of these regulatory changes, pensioners with their pensions in Malta-based overseas schemes are being urged to check whether their pension pots are at risk.
Read MoreIain McCombie is the investment manager of the Baillie Gifford Managed Fund that Ranfurly invests in. McCombie is an AA-rated manager, meaning that McCombie has beaten his bench-mark over a three-year period. This coveted rating is assigned to fewer than 25% of fund managers and provides a clear sign of their performance.
Read MoreThe UK Parliament will hold a second day of indicative votes today where different Brexit options will be explored. This comes after the UK Parliament rejected the withdrawal agreement on March 29th, following two previous rejections of the entire deal. A power vacuum is being created in the government and if this instability continues in the following years, it could result in a change in government following the next general election in May 2022 or even sooner.
Read MoreFundCalibre, an independent fund research ratings agency, released their annual index which determines the top asset managers that have consistently outperformed over the past five years.
They announced that, Baillie Gifford placed third in their index, following Morgan Stanley and Man GLG. FundCalibre noted that Baillie Gifford and T. Rowe Price have been among the top ten companies in each of the five annual surveys and both firms have outperformed over "almost a decade" despite having larger product offerings, and "maintaining such a level of consistency… is extremely impressive".
Read MoreAccording to US News, New Zealand was ranked first place for the best country for a comfortable retirement in 2019. Chosen for its high quality of life, retirement and social support, climate, culture and natural beauty, New Zealand is already a popular destination for those looking to retire. With some planning and help from a reputable pension transfer services firm, make your retirement journey smooth and efficient.
Read MoreFor 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.
Read MoreFinancial News revealed the winners of their 17th annual Asset Management Awards Europe. The awards were to celebrate the successes and innovation in the institutional sector in 2018.
Bailie Gifford, for the second year in a row, took out the coveted Equity Manager of the Year award. Under its management, Baillie Gifford’s funds grew by 12% to £177.6bn during 2018.
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.
Read MoreA 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.
Read MoreWith 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.
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