News in brief - 10 March 2023

Fidelity International has partnered with Redington and Quietroom on a project to explore further opportunities for engagement amongst workplace pension members.

The company appointed the two firms to undertake an independent review of member communications sent by Fidelity and four other leading workplace pension providers, with Quietroom then benchmarking the communications against each other. The exercise aims to identify areas of strength and opportunities to drive improved engagement and better outcomes for end-customers, with plans to share examples of best practice amongst the providers and across the industry, as well as areas where improvement is needed. Plans for a second iteration of this project have now begun.

Evelyn Partners has completed the Rowanmoor Personal Pensions Limited (RPPL) sale.

The firm, which was appointed as joint administrator of RPPL on 31 August 2022, confirmed that it has now completed the sale of RPPL’s Self-Invested Personal Pension (SIPP) and Family Pension Trust business to Alltrust Services Limited. The deal completed on 3 March 2023 following exchange of contracts in December 2022. Alltrust is an established provider of trusteeship and administration services for various types of pension scheme including a variety of SIPP structures.

The government has extended the voluntary National Insurance deadline to 31 July 2023.

The extension, which was broadly welcomed by industry organisations, aims to give taxpayers more time to fill gaps in their National Insurance record and help increase the amount they receive in state pension, after members of the public previously raised concerns over the initial deadline of 5 April 2023. Announcing the change, the government suggested that "thousands of taxpayers with incomplete years in their National Insurance record could be financially better off in their retirement if they make voluntary payments to top up any incomplete or missing years".

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