FROM THE PAPERS
Synopsis: Short summaries of articles we think you will find useful from some of the weekends broadsheets. At the end of each summary is a link to take you directly to the relevant article. Please see Helpful Hints at the end of the bulletin.
Financial Times:” Don’t rush for pensions freedoms, over-55s advised”. Over-55s looking to take advantage of new pensions freedoms are being advised to delay where possible, in the expectation that charges for taking their money out early could ease. Click here to go directly to the article
Financial Times:” Insurers call for pension advice safeguards to be watered down”. UK insurers are calling on the government to water down a safeguard for the pension market, saying it is making it difficult for savers to access their cash.
Financial Times:” Labour calls for swift action on pension exit charges”. The Labour opposition has called on the government to bring a ‘sound but quick conclusion’ to a consultation on pension exit charges. Click here to go directly to the article
The Times:” Avoid the grandparent tax trap”. Giving grandchildren too much now may earn them a big tax bill when you die
The Times:“The charges that eat away at your nest egg”. Have you succeeded in withdrawing a lump sum from your pension pot,or cashed in the lot, in order to reinvest? Or are you looking at ways to make extra savings, outside of a traditional pension scheme?
The Times:” Savers are paying a high cost for freedom”. Pension savers are being thwarted in their attempts to access their savings by long delays to transfer, with some being told that it will take more than a year to switch to another provider offering the full array of options.
The Times:” Pensions revolution: why its going wrong”. In theory, the new freedoms mean that anyone aged 55 or over with money in a defined-contribution pension can access their cash and do what they like with it. Savers in defined benefit (final salary) schemes will need to transfer to a ‘DC’ pension to benefit from the new flexibilities
The Telegraph:” Pension freedom flaw: 750,000 savers lose 9pc in four months”. A problem has emerged about how millions of pensions are invested – all because firms haven’t prepared for sweeping new changes
The Telegraph:” Don’t force savers to pay for pensions advice, say insurers”. Hundreds of thousands of people using the pension freedoms may be given the power to bypass a legal requirement to pay for financial advice
The Telegraph:” FTSE 250 firms warned over pension deficit risks”. Seventeen firms in the FTSE 250 have pension plans that dwarf their stock market value
The Telegraph:” How to mend this giant flaw in our pensions”. The way our money is invested ahead of retirement is woeful out of date.
The Telegraph:” Pension providers doubt 2016 goal for second-hand annuity market”. The rapid overhaul of retirement rules could push annuity trading into the long grass, firms warn
1. LINKS TO ARTICLES:
We have now provided direct links to the articles referred to in the article. These can be accessed by click on the “To go directly to the article click here” at the end of each article summary
2. REQUIREMENT TO SUBSCRIBE TO SITES:
As some Opus Gold users will be aware, many of the broadsheet newspapers that are traditionally covered in our From the Papers bulletin, are changing (or have changed) their free online access to articles.
Currently the Financial Times and Weekend Financial Times only allows access to view 8 articles a month free, then requiring the user to subscribe to their online service. From 1 July 2010 The Times, Saturday Times and Sunday Times articles are no longer available for free online. Instead a daily or monthly fee will have to be paid to access the articles.
We are aware of the inconvenience this will cause to our users. Unfortunately, due to the stringent copyright rules enforced by the newspapers we are not allowed to copy the articles onto our bulletin to make them available to Opus Gold users, thus our only option is to put a direct link to the article on the newspapers own website.
Although we will continue to produce From the Papers bulletins linking to these articles, users should be aware that access to many will now be blocked unless a personal subscription to the newspapers site is taken.
Once again we apologise for this inconvenience but this is something outside of our control.
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