Businesses could use a Sipp or Ssas to protect premises
Story by: Dominic Welling, FTAdviser
Businesses suffering from the economic downturn should think about protecting themselves from future financial problems by placing their premises within a self invested personal pension (Sipp) or a small self administered scheme (Ssas).
Norwich Union has announced it is to reduce the single premium and transfer commission available on its Your Pension Select and stakeholder scheme.
The average UK pension fund fell into negative territory last year, achieving an estimated weighted average return of -9.8 per cent for the year ending 31 December 2008.
The Department of Work and Pensions (DWP) has clarified that its policy intention is to ensure that protected rights funds administered within self-invested personal pensions (Sipps) are not eroded disproportionately to the rest of the pension fund.
Industry members have been offered the chance to debate proposals for the future of the pension protection levy during a series of national roadshows to be held by the Pension Protection Fund (PPF).
The best level annuity rate in the UK market fell slightly over the last month for women, the latest annuity rates from Alexander Forbes Annuity Bureau show.
The basic state pension needs to double in order to provide a 'comfortable' retirement, yet the majority of people are still reluctant to top up their retirement savings, research by Friends Provident found.
The Freedom Sipp has closed to new members after the Financial Services Authority (FSA) identified administrative issues during a recent visit.
A fourth of employees (41 per cent) either do not think they are doing enough to provide for their retirement or are planning to rely on the state pension to fund their futures.
Life offices offering third way annuities may run into serious problems meeting guarantees, stunting growth in the flexible market, Royal London has suggested.
The sale of company-owned property to a pension fund could provide much-needed capital at a time when borrowing costs the earth
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