MASTER: Pensions

18/05/2022

Online

9:30 am

Agenda

SIPP versus SSAS – how do they differ? – Barnett Waddingham

This session describes the main features of both types of ‘Self-Invested Pension’ – and the main differences between these Personal and Corporate pensions schemes – in terms of:

  • Control
  • Contributions
  • Fund apportionment
  • Permitted investments
  • Loans and borrowing
  • Retirement and death benefit options

Learning outcomes:

  • To gain an appreciation of the similarities and differences that exist between the two types of Self-Invested Pension arrangements; Self-Invested Personal Pensions and Small Self-Administered Pension Schemes.
  • To identify the types of customers that favour one type of self-invested pension arrangement, and the reasons why.
  • To demonstrate, via the use of case studies, where each type of self-invested pension arrangement can be put to practical use, to assist in the development of a business.

Flexi-access drawdown – the good, the bad and the ugly – Royal London

We’re seeing more people using income drawdown than ever before with Flexi Access Drawdown (FAD) sales outpacing annuity sales by more than 2:1 since pension freedoms began, but FAD is not without its risks. The most significant of these is that people will run out of money during their lifetime through poor investment return, living longer than they anticipate or simply withdrawing at a rate which is unsustainable.

We consider the Retirement Outcomes Review (ROR) from the FCA, and the changes to retirement advice in the wake of the final report and subsequent policy statements. While recent output from the FCA regarding the ROR has focused heavily on non-advised drawdown, it gives the industry a line of sight to the regulator’s thinking. In the absence of significant post RDR guidance from the FCA on what good looks like in advised FAD, these publications provide an insight into the regulator’s main concerns in this market.

The presentation investigates best practice in FAD file construction, as well as explores the complex issues of sequencing risk and sustainable withdrawal rates. The presentation is bought to a close by considering how to review income drawdown plans in a compliant and cost-effective manner, which we believe is vital for the ongoing success of any plan.

Learning outcomes:

  • Be able to identify the risk factors associated with income drawdown.
  • Understand the Regulator’s main concerns with income drawdown.
  • Understand how you can review your client’s drawdown plan in a compliant and cost-effective way.

Who’s hosting?

Grant Callaghan – Apricity Compliance 

John Landon, Associate and SIPP and SSAS Business Development Manager – Barnett Waddingham

Rachel Geary, Associate and SSAS Client Manager – Barnett Waddingham 

Craig Muir, Senior Pension Development & Technical Manager – Royal London

MASTER: Pensions