Blog

What Duties and Responsibilities Do Trustees Have?

A “trust” is a legal arrangement under which trustees hold the assets of the pension scheme in a trust fund for the benefit of the members of the scheme, their dependants and for the main purpose of providing income in retirement.Under trust law and the Pensions Act 1990,…

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ARF Distribution and Annuities – What Are Your Options?

When our clients decide to drawdown benefits from pre-retirement pension schemes, they will in general have the option to buy a lifetime annuity, effect an Approved Retirement Fund (ARF), or encash all pension benefits after paying marginal rate of tax. These options of course…

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Finance Act 2021 and Proposed Pensions Roadmap

In the first of our 2022 webinar series for advisors, ITC’s Eve Nolan discussed Decembers Finance Act and the future roadmap for pensions reform.Topics included:Overview of the Finance Act changes Anticipated upcoming changes Opportunities arisingTo view the…

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What Happens to My Pension Scheme When I Die?

It is natural for us to shy away from conversations about our own demise, however, it is well worth considering how your pension benefits will be treated after your passing. This will allow you to take any necessary steps now to ensure that your intentions are met. The first…

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BOBs Not Dead

Since the implementation of IORP II in 2021, rumours had been circulating that the Finance Act would also bring in restrictions that would see an end to the Buy Out Bond (BOB). This fortunately did not occur last year but could still become the case in this or future year’s…

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More Than 90% of Pension Advisors Say Auto Enrolment Will be Delayed Beyond 2023

As you know, a lot of changes are currently taking place in the pension space, and earlier this year we wanted to gauge financial advisors’ views on these recent developments through a quick opinion survey.Topics included:Change in retirement age The effect of IORP II The…

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The Gender Pension Gap

A recent survey carried out by Bank of Ireland focused on women’s confidence regarding financial planning and managing money. The survey results outlined the variations between men and women’s approach and confidence when it comes to money management. At a high level, it was…

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Tax Deadline: Set up ITC pension overnight with ITC Nexus

With the online tax deadline looming on 17th November, it is good to know that a self-administered pension can be set up overnight through ITC’s online facility - ITC Nexus. Send us a cheque for your client’s contributions the following day, ensuring you meet the deadline…

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Utilise the BOB Before it’s Too Late

In our latest vlog, ITC's Stephen Dooley discusses the restrictions of IORP II on investments by occupational pension schemes in unregulated investments such as property and how the Buy Out Bond can provide a cost effective solution.     …

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Lending in Pensions Attracting Investors

It is an interesting time for the property sector. We are currently dealing with the effects of the Covid 19 pandemic on our economy and investments as a whole. Also, in April 2021, the IORP II Directive was implemented. This is an EU directive requiring pension schemes…

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