UK Pensions Deficits YOUR Retirement Income Is At Risk
Do you have a UK Pension – Then Read This – it could save you £1,000’s
UK Defined Benefit (DB) Company Pension Schemes At Record Levels
Still Not Convinced YOUR Retirement Income Is At Risk; well please read the following independent sourced evidence about the fact that you may not receive a pension at all.
You see many British Pensions Schemes Are in Deficit (Technically Bankrupt) which means that you may not receive any pension at all or at best a reduced income.
Now remember this is your pension money (your money) that we are talking about, and I ‘am sure you would agree that it is simply not worth the risk of entrusting your pension to a third party, when you could be in complete control of your pension.
You may also like to download the following independent report: UK Pensions FTSE 100 Review 2015
DB Pension Deficits Double To £0.8trn Since 2006
High life expectancy and low returns to blame
Source: Professional Adviser 29th March 2016
The shortfall of defined benefit (DB) schemes has risen from £425bn to £800bn in nine years, despite employers trying to plug the gap.
JLT Employee Benefits’ analysis of private sector DB schemes said this was mainly down to higher life expectancy and low expected returns from investment.
Scheme assets grew from £0.65trn on 31 March 2006 to £1.3trn on 31 March 2015 while liabilities rose from £1.1trn to £2.1trn.
The rise in longevity at age 65 by approximately two years between 2006 and 2015 has added £135bn to liabilities. Despite employers making £160bn in contributions, deficits have collectively doubled during that period.
The consultancy also calculated that schemes face a funding gap of £2.3trn in terms of the total £3.6bn cashflow they will need to pay to members in the future.
If low interest rates are the new normal, employers would need to pay £220bn in contributions over the next decade just to bring them back to the 2006 deficit levels, it said.
JLT actuary and consultant Murray Wright urged schemes to take a look at how they plan to close deficits, saying they cannot continue on the same strategies as in the last 10 years.
He said: “There is a £2.3trn cashflow shortfall that needs to be met by a combination of contributions from sponsors and future investment returns. They also need to consider how the £2.3trn target itself can be reduced through liability management exercises.
“Trustees and employers should ensure they are using all of the levers available to them to stop pension shortfalls from spiraling out of control.”
The number of DB schemes fell from 7,751 at 31 March 2006 to 5,945 at 31 March 2015.
JLT adjusted historic figures to allow for schemes that have been wound up, merged, entered Pension Protection Fund (PPF) assessment or transferred into the PPF.
Why QROPS Pension UK Defined Benefit Schemes 2015 Aggregate Deficit £228bn
After another difficult year, according to research from JLT Employee Benefits.
Source: professionalpensions.com January 5th 2016
The figure has dropped slightly from the £248bn shortfall recorded at the end of 2014, but the firm warned schemes faced greater challenges in the year ahead.
Last year many large firms including Tesco and United Utilities announced plans to close DB schemes.
JLT Employee Benefits director Charles Cowling said that pension schemes with triennial valuations last year will have seen record deficits, which could lead to “painful” rises in company contributions.
He said: “Looking forward, contracting-out will end in 2016, while there will be further tax changes to pensions, namely the reduction in the annual lifetime allowance (LTA).
“These changes mean that even with deficits and soaring costs aside, DB pension provision is looking less and less attractive in the private sector.”
Cowling expects that the few remaining companies with open DB schemes will throw in the towel and switch to defined contribution (DC) provision.
He said that, although the recent interest rate rise by the Federal Reserve may offer some relief to DB deficits this year, other economic indicators did not look promising.
“We believe it is quite possible that we could get through the whole of 2016 without any interest rate rise. With the added worry for markets of a possible Brexit vote, there is every possibility that 2016 will prove to be another very difficult year for DB pension schemes.”
Cowling thinks trustees and companies should be focusing on liability management, liability-driven investments (LDI) and buy-ins and buy-outs.
“As a consequence, we believe that 2016 could be another record year for the buyout market,” he said.
1,000 Final Salary Pension Schemes Face Going Bust
Source: FTadviser.com December 14, 2015
Today (14 December 2015) a new report from the Pensions Institute, part of Cass Business School, has shown up to 1,000 defined benefit schemes are at ‘serious’ risk of falling into the Pension Protection Fund.
The report, ‘The Greatest Good for the Greatest Number’, predicts that the businesses of hundreds of employers will become insolvent well before the end of their recovery plans, under which the trustees and sponsor agree contributions to make good the deficit over an agreed number of years.
It shows that on insolvency, these schemes may have insufficient funds to pay members’ pensions in full.
Of the 1,000 defined benefit schemes at ‘serious’ risk of falling into the Pension Protection Fund, 600 schemes may only receive PPF compensation, and many sponsors are expected to become insolvent in the next five to 10 years.
Additionally, the remaining 400 sponsoring employers might initially survive, but may eventually fail if they are not able to off-load their pension obligations.
The argument in the report is the worst case scenario of insolvency can be averted if the approach to managing pensions changes to one that is prepared for many more schemes to pay less than full benefits on a planned and co-ordinated basis, with all parties in agreement on how best this is achieved.
The Pensions Institute stated freeing an employer from the burden of its pension fund whilst avoiding insolvency, can create extra value which can be shared with the members to achieve a better outcome.
David Blake, professor of pension economics at Cass Business School, said “In aggregate the schemes have liabilities of £225bn, assets of only £180bn and therefore deficit of £45bn.
“If this situation is not urgently addressed, business which may be saved will be lost to the UK economy and those members will end up receiving PPF compensation.”
“Government policy is predicated on the assumption that employers with DB schemes, over time, will be strong and prosperous enough to pay benefits in full.
“The report challenges this rose-tinted view and seeks answers to the following question: What actions should trustees take, to secure the best possible outcomes for the members they serve, if the employer is not strong, is unlikely to prosper, and, the prospect of the Pension Protection Fund ‘lifeboat’ looms?”
He added that in reality, many trustees are trying to manage significant conflicts of interest.
Additionally, Mr Blake said there was a collective silence amongst trustees.
UK’s Largest Companies Under Pressure Over Pension Contributions
Source: FT.com May 5, 2015
Some of the UK’s largest companies will come under pressure to ramp up contributions to their company pension schemes, advisers warn, as deficits continue to soar.
The alert comes as 30 FTSE 100 companies are due to begin triennial financial health checks on their defined benefit pension schemes — with most facing ballooning deficits.
Advisers say that since the last round of valuations three years ago, deficits have worsened — despite the improving economy — largely in response to falling gilt yields which are used to calculate scheme liabilities.
The total deficit in FTSE 100 pension schemes was estimated to be £80bn at the end of 2014, £26bn higher from the same time a year ago, and up from £73bn in March 2012, according to JLT Employee Benefits, a pension and benefits consultancy.
“The lower gilt yields go the bigger scheme deficits tend to grow,” said Charles Cowling, director with JLT.
“Three years ago we thought interest rates were low and it was a bad time for markets, but it’s just got worse.”
Companies scheduled to have their actuarial valuations this year include Lloyds, Shell, BP, International Airlines Group (British Airways), HSBC and Aviva.
During these valuations, employers agree a recovery plan with trustees, acting on behalf of scheme members promised a pension, to plug any funding deficit.
“We expect to see some difficult negotiations between trustees and employers and inevitably there are going to be demands for (potentially significant) increases in employers’ funding contributions as pension scheme deficits continue to grow,” said Mr Cowling.
According to JLT, FTSE 100 companies ploughed £14.1bn into their pension schemes over the last accounting year, down from £16.3bn in the previous year. However, only £6.9bn actually went to cut deficits, as new pension benefits accrued, down from £9bn the previous year.
The squeeze on contributions follows the Pensions Regulator’s move in 2012 to give employers with scheme funding gaps greater flexibility to stretch out their deficit recovery plans.
The Confederation of British Industry, which represents employers, said: “In all cases, due regard must be given to the Pension Regulator’s new objective — to consider the company’s ability to contribute. The best security for any defined benefit scheme is a solvent, profitable sponsoring employer.”
The aggregate deficit of the 6,057 schemes in the PPF 7800 index was estimated at £292bn at the end of March 2015, up from £248bn the previous month. There were 4,995 schemes in deficit and 1,062 schemes in surplus.
UK Pension Deficits Widen As Contributions Drop
Source: FT.com August 10, 2015
UK companies are paying less towards meeting their pension shortfalls than at any point since 2009, even as aggregate pension deficits reach their highest level in five years.
The widening gap means companies are likely to face pressure this year from scheme trustees to increase payments towards their deficits, according to Barnett Waddingham, a consultancy.
FTSE 350 companies paid £7bn towards their defined benefit pension deficits in 2014, 20 per cent less than the previous year and 40 per cent below the amount each year between 2009 and 2012, the survey found.
At the same time, the aggregate deficits for FTSE 350 companies increased from £53.3bn to £64.7bn during the year, as falls in corporate bond yields pushed down so-called discount rates, which are used to calculate the present value of payments the scheme expects to make.
Most companies have closed their defined benefit schemes to new employees, but some still face heavy liabilities from existing members, who number at least 7m in total.
Market conditions suggest deficits will probably continue widening, with falling bond yields counteracting strong investment performance within many schemes’ portfolios, said Barnett Waddingham.
A code of practice introduced by the Pensions Regulator in 2014 allows employers more flexibility in paying down scheme deficits where this may affect the companies’ growth. BT, which faces a £7bn deficit, said in January it had agreed with scheme trustees a plan to reduce its annual payments.
However, Nick Griggs, head of corporate consulting at Barnett Waddingham, said: “The increase in deficits seen towards the end of 2014 will almost certainly translate into pressure from scheme trustees to reverse, or at very least address, this trend [of lower deficit contributions] in 2015 and beyond.
“If you look at the levels of cash that a lot of companies are holding, there does seem to be potential for increased deficit contributions.”
A small group of companies face the most severe pension deficit risks: 18 have deficits exceeding 10 per cent of the company’s market capitalisation, while seven hold equities within their pension schemes with more than 50 per cent of the company’s market capitalisation.
“This is a recurring problem but it has been acute in recent years. The regulator has to balance the interests of members, employees and shareholders,” said Tom McPhail, head of pensions research at Hargreaves Lansdown.
An interest rate rise may help by diminishing projected liabilities, he said. “But if those falling liabilities are offset by falling asset values, that could mean they are just running to stand still.”
Companies are shifting rapidly towards defined contribution pension schemes, in which members buy annuities or enter income drawdown based on the total assets in their pension pots, rather than on their final salaries or years worked. The average amount paid into such schemes increased by a fifth in 2014.
However, about 170 FTSE 350 companies still have a defined benefit scheme; in total, these are expected to pay out £970bn in the next 30 years.
“It is remarkable to consider the level of resources that UK businesses are having to contribute towards legacy benefits,” Barnett Waddingham said.
Lower deficit payments contributed to a more positive picture for investors in companies with defined benefit schemes: net dividend payouts have risen steadily as deficit payments declined since Barnett Waddingham began its surveys in 2009.
Dividend payouts reached £56.9bn in 2014, up from £47.3bn in 2009, but in 2014 there were still 24 companies that paid more in pension deficit contributions than they handed to investors via dividends.
Funding Shortfall For Final Salary Pensions Worsens
Source: FT.com May 22, 2015 Josephine Cumbo; Pensions Correspondent
Funding shortfalls in many defined benefit pension schemes have worsened despite £44bn of extra contributions, prompting the regulator to remind employers of the options they have to deal with the deficits.
The aggregate deficit of more than 6,000 private sector defined benefit schemes covered by the Pension Protection Fund soared to a record £375bn in January this year, compared with £215bn the same time three years ago. Market movements had reduced this figure to an estimated £242.3bn at the end of April but the deficits remain stubbornly high.
The Pensions Regulator said trustees and employers sponsoring some schemes could consider taking longer to eliminate the deficits, or change their assumptions about future investment returns to help mitigate the problem.
The regulator said in a statement on Friday that persistently low interest rates and falling gilt yields had created a “very challenging environment” for schemes conducting their regular statutory three-yearly check on financial health.
“Despite all major asset classes having performed well and schemes having paid £44bn in deficit repair contributions over the past three years, our analysis suggests that many schemes with 2015 valuations will have larger funding deficits due to the impact of falling interest rates and schemes not being fully hedged against this risk,” said the regulator.
“The extent of the impact of market conditions will depend on a scheme’s specific circumstances such as the exact dates of valuations, asset allocations and interest rate and inflation-hedging strategies.”
Towers Watson, the pension consultants, said the regulator‘s analysis showed that, for the median scheme, deficit contributions would need to rise 66 per cent if the timetable for eliminating the shortfall were not pushed back.
“For most schemes, the deficit recovery period would need to be extended by more than three years if contributions stayed the same,” said Towers Watson.
“The regulator no longer says that deficits should be cleared as quickly as employers can reasonably afford; companies who don’t want to put their hands in their pockets are very conscious of that.”
During the scheme valuation process, trustees acting on behalf of members of final salary schemes and the employer sponsoring the scheme agree on ways to plug any funding gap.
Last year, the regulator set a new objective allowing for business growth to be taken into account when determining how much cash should be set aside for shortfalls.
On Friday the regulator suggested that schemes with “capacity to take additional risks” could look to “modest extension to their recovery plans, a modest increase in deficit repair contributions and/or changing their assumptions relating to investment returns.” Other schemes with “less capacity to take risk” should seek higher contributions, it added.
The statement came as industry observers noted an increasing trend for employers to push out their recovery plans.
A survey by PwC, the consultancy published in March found more than half of 200 company pension funds had lengthened their recovery plans by three years or more.
“It’s concerning that while the economy is recovering, pensions deficits are still increasing and employer deficit contributions are falling,” said Lincoln Pensions, which advises trustees.
“Our experience is that sponsors regularly cite the regulator’s sustainable growth objective as a reason to propose lower deficit contributions even when deficits increase. In doing so they are increasing risk for both the company and for members.”
The National Association of Pension Funds, which represents workplace pension schemes, welcomed the regulator’s statement saying it reiterated the need for scheme trustees to “manage, rather than eliminate”, risk.
Final Salary Pension? Your retirement income is at risk
Source: The Telegraph February 21, 2015
These ‘gold-plated’ schemes are supposed to be guaranteed – but savers are being misled, a top pension’s official has warned.
Savers in their forties and fifties are being “misled” over the safety of their final salary pensions and could suffer a 10 per cent cut to their retirement incomes, a senior official has warned.
In a stark warning, the head of the government’s pension’s lifeboat said five in six final salary schemes had fallen into the red and faced a struggle to pay savers a full pension.
Alan Rubenstein, chief executive of the Pensions Protection Fund (PPF), said that many of the 11 million people with a supposedly guaranteed, inflation-linked pension were being led to believe their pension was safe, when “for many that isn’t the case”.
Savers who tried to cash in their final salary pots early, by using the new pension freedoms due in April, face losing up to 40 per cent of the value of the pension they’ve built up, he said.
The comments, in an interview with The Telegraph, represented the most overt warning from a government-backed organisation since the crisis in the early 2000s when thousands of workers faced the loss of their pensions as companies collapsed with deficits in their schemes.
Mr Rubenstein, whose organisation was set up in the wake of that scandal to rescue final salary plans when they fail, said: “It is misleading to allow people to expect promised pensions when in fact there is only money enough to pay about 60 per cent of those pensions [should they be cashed in today] and where nothing is being done about the shortfall.”
Final salary pensions are typically worth a maximum two-thirds of a worker’s wages on retirement depending on their years of service, with payouts rising with inflation and half going to a spouse on death.
The pensions are more generous than schemes where the size of the pot is linked to the stock market.
George Osborne’s pension freedoms will arrive as the health of final salary pensions is deteriorating dramatically. Around 5,000 pension schemes face a funding shortfall of at least £300 billion, the largest since 2012, figures show. Low interest rates and the fears over Greece’s exit from the Eurozone have conspired to increase funding costs for firms that offer final salary pensions.
A customer seeking to transfer their entitlements out so they can cash in the pension would typically get just £6 for every £10 in their name, Mr Rubenstein said, because schemes were so far in deficit.
If the company behind the pension was unable to meet its promises, it would have to be taken over by the protection fund. In such cases, most members are given 90 per cent of their predicted retirement payments each year. Wealthier savers stand to lose more as annual payouts are capped at approximately £30,000.
Those already retired will be protected, leaving those in their forties and fifties, who will claim benefits in future years, most at risk.
It is unclear how many schemes would fail, Mr Rubenstein said, because companies were hiding the scale of the problem.
“We should be having this conversation now, rather than leaving people under the impression they will have a pension as promised,” he said.
Mr Rubenstein added that while pension schemes with large holes in their finances were required to have “recovery plans”, some were unlikely to work, having been stretched over a nine-year period on average. Recovery plans are easily derailed if returns fall below expectations. Many companies were “travelling in hope”, he said.
Stephen Soper, chief executive of The Pensions Regulator, which oversees the funds, said:
“We are prepared to work with [struggling schemes] to try to deliver a solution that balances the interests of the members, PPF and employer.”
Many final salary schemes have closed as a result of long-term funding problems, with just 8 per cent open to new members, according to the National Association of Pension Funds.
The gap between the money held in such schemes and the pensions they have pledged to pay is widening dramatically.
While such pensions hold £1,200bn of investments, the most conservative valuation of their pension promises is closer to £1,500bn. This £300bn gulf has grown from almost nothing in just 12 months (see graph, below). The shortfall highlighted in this data, however, is not the real extent of the gap. The £300bn figure is based on the reduced pensions that workers would be paid if their scheme collapsed and had to be taken over by the PPF.
In broad terms, if your scheme fails – in most cases because your current or former employer goes bust – the PPF will step in, paying 90pc of promised pensions up to an annual cap of £30,000. For most workers the cap is high enough to mean they receive 90pc of their promised income. But for higher earners, with big pension entitlements, the cap can inflict a brutal loss of retirement income.
The gap between pension schemes’ investments and the value of actual promises made to pensioners is therefore far higher than the £300bn that would deliver the PPF level of payouts. One independent estimate, by Citigroup, put the real gap at £850bn.
Even figures from the Pensions Regulator, the body charged with monitoring schemes’ solvency; suggest that if schemes had to pay all their pensions as promised today, they would be 45% short.
It is possible that shortfalls could shrink in time if investment returns grew and companies contributed more. Mr Rubenstein said: “You shouldn’t be scared by one month’s numbers. But companies need realistic recovery plans. Many are on life support at the moment, kept alive by cheap loans.”
Actuary Henry Tapper, of consultant First Actuarial, said: “There is no silver bullet. There is no obvious factor that will induce growth. The only guarantee is what the PPF would pay if it had to take over your pension.”
The PPF expects to bail out twice the value of pensions in the coming year as in the previous one. This increase is not due to a rise in insolvencies, but to the growth of the shortfalls in the funds that fail.
Pilot’s pension cut from £47,000 to £26,500
The Pension Protection Fund, the lifeboat scheme for savers in stricken salary-linked pension schemes, is able to guarantee most people 90pc of their promised pension.
But for bigger pensions the scheme has a cap. The most you can receive is £36,000 per year – less if you retire before you are 65.
The pension scheme of Monarch Airlines is currently being taken over by the PPF following a restructuring of the company. There was not enough money in the fund to meet all the pension promises made in earlier years. While most staff’s pension will fall below the cap, meaning they will get 90pc of their entitlements, some high-earning pilots will see drastic cuts.
One Monarch pilot, 51, who did not want to be named, planned to use his generous promised pension of £47,000 per year to help his children and pay off his mortgage. But he and his wife have been forced to rethink their plans because under the PPF they will get a maximum of £26,500. “I’m still in a state of shock,” he said. “It’s like a grieving process. There’s this sense of injustice. My pension is something I’ve paid into over the years and it’s something I was promised. I was paying around £1,000 a month from my salary, excluding the company contribution, and I’ve always regarded my pension as deferred pay. It wouldn’t be so bad if I was in a position to do something about it, but for me the time available is short.”
UK Pension Deficits Double To More Than £100bn
Source: FT.com January 6, 2015
Pension deficits at the UK’s largest companies nearly doubled over the past year to exceed £100bn, as record low interest rates continued to take a toll.
The combined accounting deficits for FTSE 350 companies with final salary pension schemes ballooned from £98bn to £107bn between November and December, compared with £56bn a year ago, a survey published on Tuesday by pension consultants Mercer found.
Consequently, funding levels — or the ability of schemes to make payments as promised to members of final salary plans — reduced from 86 per cent to 85 per cent over the same period.
Mercer said the deterioration was “substantially” driven by a further fall in corporate bond yields, which are used to measure the pension liabilities reported in company accounts.
“The sharp fall in both corporate and government bond yields to historic lows during the second half of the year has resulted in a sharp rise in pension scheme deficits,” said Ali Tayyebi, a senior partner at Mercer.
“The accounting deficit is 90 per cent higher at the end of 2014 compared to the position at the end of 2013.”
According to the Mercer estimates, pension assets held by the top 350 UK companies rose £2bn to reach £608bn between November and December last year. But over the same period liability values rose £11bn to £715bn.
Mercer said a “huge variety” of financial and economic factors worldwide had affected yields in 2014 but it expected continued volatility in 2015.
“Whilst the recent fall in yields may cause many pension schemes to review the hedging of their interest rates, schemes should be open to the opportunities that volatility provides,” added Mr Tayyebi. “Companies and trustees should be prepared.”
With UK pension scheme deficits continuing to soar, some commentators are calling for a review of the Bank of England’s Quantitative Easing policy, or asset purchase programme, which is designed to revive economic growth but depresses bond yields.
Ros Altmann, an independent pension expert and investment adviser, said: “The impact of Quantitative Easing on corporate pensions and annuities has not been properly appreciated and is one of the dangerous unintended consequences of this policy experiment.
“The stronger economy and sharply falling unemployment would normally have heralded rising interest rates and equity prices. Instead, interest rates remained low and gilts became increasingly expensive as long yields fell to record lows towards the end of the year.”
In recent years pension funds have switched away from equity investment towards gilt and bonds, making them much more sensitive to movements in bond yields.
In 2006, more than 60 per cent of pension fund assets were in equities, but this fell to 35 per cent in 2014. In contrast, holdings of gilts and bonds have risen from 28 per cent to 44 per cent over the same period.
Pensions Black Hole Rockets To £250 billion
FINAL salary pension scheme deficits have soared by two-thirds in just 12 months, leaving a £249billion shortfall.
Source: The Express January 3, 2015
The black hole of all UK private sector schemes – where assets are outstripped by liabilities – rose from £150billion at the end of 2013 as a result of plummeting bond yields, new figures revealed yesterday.
The funding level – the proportion of payouts covered by a scheme’s assets – dropped from 88 to 83 per cent.
Charles Cowling, director of pension advisers JLT Employee Benefits, blamed the sharp rise on stalled UK equity markets and continuing low interest rates.
He said that the Bank of England’s suggestion that interest rates could normalise at an eventual 3 per cent ruled out any respite in the short to medium term.
Deficits of firms in the FTSE 350 rose by 59 per cent to £97billion while their funding level fell from 90 to 86 per cent, according to JLT.
FTSE 100 schemes also suffered, with deficits rising to £85billion from £54billion, pushing down their funding level to 87 from 90 per cent.
Last month it emerged Tesco has a £3billion hole in its scheme.
Other companies struggling in 2014 to fill the gap included Royal Bank of Scotland and BT.
Do you have a UK Pension – Then Read This – it could save you £1,000’s
Are you aware of the tremendous financial planning opportunities that are available to you today by transferring your UK Pensions to a Qualifying Recognised Overseas Pension Scheme; a QROPS, or to a Self Invested Personal Pension Plan; a SIPP; no matter where you are in the world?
QROPS and SIPPS are available to wide range of people; in fact almost anybody with a UK pension throughout the world can have a QROPS UK Pension or a SIPPS UK Pension, including UK residents.
So the question is why transfer your UK Pensions to a QROPS UK Pension or a SIPPS UK Pension. This is all about securing and controlling your pension; as discussed many UK pensions schemes are in deficit, meaning that you may not get any pension at all.
And the second question that needs to be answered is the choice between a SIPP UK Pension and a QROPS UK Pensions; What is the right UK pension for you a QROPS UK Pension or a SIPPS UK Pension? This is all about taxation, which pension scheme is right for will depend on were you live and how much access you require in terms of pension income.
Both QROPS UK Pensions and a SIPPS UK Pensions have their advantages and limitations.
Typically, which UK Pension is right for you will depend on where you live (QROPS UK Pensions are very good at reducing personal taxation, putting more pension income in your pocket to spend as you wish), your personal circumstances, and future plans (SIPPS UK Pensions are very good at providing 100% access to your pension money either immediately, or during your lifetime). Importantly, both a QROPS UK Pension and a SIPP UK Pension secure you pension (money) for you.
UK Pension Advice QROPS Vs SIPPS
How many of us make a conscious effort to spend some time and consider our pension arrangements and planning our retirements.
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Download Your SIPP UK Pensions Guide here.
We will never share, sell or pass on your details to anyone else.
We will be pleased to forward to you your SIPP UK Pensions Guide; SIPP information explained, in the meantime please do not hesitate to contact us on +852 5307 3732.
This web page was written in 2015. For the latest information please download the latest FREE Expat British UK Pension Transfers QROPS GUIDE; QROPS information explained.
RETIREMENT SEEMS MANY YEARS AWAY SO WHY SHOULD I ADDRESS MY UK PENSION FUND NOW?
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I AM STILL NOT SURE WHY I SHOULD NOT WAIT?
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