andrew tully

HM Revenue and Customs (HMRC) has revealed a 6% rise in the amount withdrawn flexibly this quarter versus the same period last year, and a 10% increase in the number of individuals using this freedom.

The £2.3bn withdrawn flexibly from pensions in Q3 represents a 2% year-on-year decrease from monies withdrawn during the same months in 2019, HM Revenue and Customs (HMRC) figures show.

The Financial Times has reported that Rishi Sunak is preparing to break the Conservative party’s “triple lock” state pension pledge, amid Treasury fears that the policy could become unaffordable because of the fallout from the coronavirus crisis.

Almost one in five (19%) people do not access information about their pensions, research by the Association of British Insurers (ABI) and research consultancy Populus has found.

Total of £15.7bn accessed flexibly

The Financial Conduct Authority's (FCA) thematic review of the annuity market has been criticised for not going far enough, fast enough.

Chief executives of the country's largest companies will receive official notification of their auto-enrolment responsibilities from The Pensions Regulator this week.

Andrew Tully has left his position as Standard Life senior pensions policy manager to join MGM Advantage.

Auto-enrolment legislation should be tweaked so employers do not have to enrol staff who have enhanced protection rights, Standard Life says.