[email protected]

  • About Us
  • Events
  • Industry News
  • Infomix
  • Business Development Updates
  • Newsletter
Adviser Home
  • CPD Centre
  • Development Solutions
    • AXA Investment Managers
    • Tacit Investment Management
    • Aegon Corporate Protection
    • Tax Planning Support
    • Outsourced Investments
    • Orbis Invest Differently
    • Fidelity Adviser Solutions
    • Aegon - Supporting financial advice
    • Tax Planning Investments
  • Resources
    • Marketing
      • The Yardstick Agency - Organising events can generate new business. But is your presentation fit for purpose?
      • The Yardstick Agency - 4 powerful ways to grow your podcast audience
      • The Yardstick Agency - Harness LinkedIn’s power with these 6 practical ideas from our favourite experts.
      • The Yardstick Agency - Are brochures still relevant in 2022?
      • Faith Liversedge: How to convert clients to your ongoing service
      • The Yardstick Agency - 4 things you should never leave off your website’s fees page
      • Money Marketing - Podcast: Do we expect more for less from advisers?
      • AdviceBridge - The figures don’t lie: Why advice firms must provide all three engagement channels (adviser, digital, and hybrid) for all client types
      • Personal Finance Society - What It Means to Tell a Good Story About Your Business
      • The Yardstick Agency - 3 simple changes every adviser and planner can make now to get more referrals
      • The Yardstick Agency - 6 occasions when being too cautious will damage your marketing
      • Creating a successful digital advice model
      • Blogging Checklist
      • Marketing Checklist
      • SEO checklist
      • Website checklist
      • Corporate Design
    • Proposition
      • New Guide to Retirement Income Advice
      • Advisor Perspectives - You Provide More Value than You Realize
      • IFA Magazine - 4 things you’ve forgotten about the value of your advice
      • Royal London - Feeling the benefit of financial advice: How professional support helps to improve emotional wellbeing
      • FTAdviser - Q&A: Advisers are missing a trick with business protection
      • FTAdviser - How to get younger clients on board with financial advice
      • Money Marketing: The future of advice is going to be dynamic
      • Royal London - What stops people from seeking financial advice?
      • FTAdviser - If your business is to thrive, you will have to advise remotely
      • Always Be Content - Dare to Care: How Doing Good Helps Business Do Better
      • Finding your advice style with lifestyle planning
      • Aegon - How your clients can become a financial wellbeing ‘all-rounder’
      • Aviva - Generation rent: the protection they need
      • FTAdviser - How suitable are financial products for young savers?
      • AIG - How to: reinvigorate your critical illness sales process (CPD)
      • Royal London - Does sustainable investing belong in fixed income?
      • Advisor Perspectives - Why Prospects Choose You
      • Advisor Perspectives: 10 Signs You Need to Be a “Hybrid” Advisor
      • This is Money - Mind the money age gap: Research claims over-65s are smarter about pensions and investing due to a lack of financial education for the young
      • The Institute for Fiscal Studies - Understanding the gender pension gap
      • How to introduce clients to protection
      • Handling vulnerable clients who want equity release
      • Shift in retirement journeys set to reshape the market
      • Four in five UK adults say they don’t have a ‘pension will’
      • Combining pensions and property
      • The Value of Advice - an insiders guide
      • Adviser Home Guide to Innovation
      • Designing Your Service Proposition
      • Effective Cash Management
      • Business Protection
      • Rohan Sivajoti: The one page business plan
      • Protection conversations increasingly common for advisers
  • Sustainable Investments
  • About Us
  • Events
  • Industry News
  • Infomix
  • Business Development Updates
  • Newsletter

Weekly Updates

John Lappin

Our Industry Commentator with his top news links each week.

NI to be cut in January but overall tax burden continues to rise

The Chancellor Jeremy Hunt is cutting Class 1 national insurance from 12% to 10% from January as improvements in the public finances have supposedly given the Chancellor some financial headroom for last week's Autumn Statement.

A smaller 1% cut in Class 4 follows in April 2024.

Times’ Money Mentor considers the NI changes here - How will national insurance changes affect me?

But elsewhere coverage suggests that due to bothersome details such as the continued threshold freeze, the tax burden will continue to rise. Such headlines may not please the Government as it seeks an argument to vote Conservative in the forthcoming general election.

The regulatory details that will really interest the adviser sector will surely be more information concerning LTA abolition which came out on the day of the statement. Citywire looks at things in some detail here, though it adds that not all the questions have been cleared up yet.

The FCA has launched a 'pension pot-for-life' consultation which would bring the individual further into pension decisions in a bid, among other things, to resolve the issues of small pots as Corporate Adviser reports.

This is, likely, the most significant initiative of the range of pension reforms ‘launched’ in the summer and now boosted again by the Chancellor as the previously unheralded ‘pensions section’ of the Autumn Statement.

There is a lot of analysis of the initiative from - loosely - three camps – supporters, opponents and in-betweeners.

So here is, for example, Pensions Bee research, which suggests the majority of savers will embrace this new world of the individual in pensions decision making, as reported by Money Marketing.

It quotes PensionBee director of public affairs Becky O’Connor saying: “Our research suggests this could be met with strong support from workers. Careers are becoming more complicated. People can have several jobs throughout their lifetime, or go self-employed for a time and then go back to employment. They might consolidate old pensions, then continue to build new ones through subsequent work and want to have these contributions paid into their personal pension, but may find their employer might not yet allow it. This simple change could give those who want to build their own pension and have the convenience of having an employer pay straight into it the opportunity to do so.”

Contrast this with Royal London’s Jamie Jenkins quoted in Employee Benefits.

“Automatic-enrolment into workplace pensions has been a huge success story and the relationship between employers and their employees is pivotal to this. A pot-for-life model would significantly undermine this dynamic by requiring employers to navigate an increasingly complex array of payments to different providers. If we really want to engage future generations in their retirement savings and address the proliferation of small pension pots, we should focus on a digital solution by delivering a fully functional pensions dashboard.”

We are also beginning to see concerns voiced from what might be called the broader workplace pension sector over potential confusion.

Capital Cranfield professional trustee Andrew Cheseldine said: “Is it for all schemes – what happens if you have people who want relief at source in a net pay scheme, and vice versa? Employers will move from dealing with one provider to up to 12. I think the burden on the regulator would increase ten-fold. How are they going to check contributions are correct on multiple schemes? And what will this approach do to opt-out rates?”

What is missing is much consideration about what it might mean for financial advisers though SJP suggests pot for life may be used more by advised clients as reported in Money Marketing.  

It could bring more adviser influence on some workplace pension decisions but any vehicle receiving contributions will be price capped of course. It will be interesting to see how things play out in reality.

Back

Our Sponsors & Partners

Previous
Next

Contact Us

  • Partners
  • Contact Us
  • Terms & Conditions
  • Data / GDPR
  • Privacy Statement

Social

Follow us to stay up to date with the latest industry news

  • Twitter
  • LinkedIn

Newsletter Sign Up

Fancy getting all the latest news direct to your inbox?

Please do not fill in the above field to help us identify genuine requests.

We exist to help financial advisers run, develop and market their business

Adviser Home

© 2025 Adviser Home

Website by Clear

Back To Top

Sign up to the Adviser Home newsletter

Please leave the above box empty.

Are you an adviser or provider?

Find out more about our weekly bulletins here. You can unsubscribe from our communications at any time.

We’ll only use your data in compliance with GDPR. Our full policy can be found here.