News in brief - 22 January 2021

PensionBee has launched a flexible pension product for the self-employed.

The product allows self-employed savers to start a new pension with no minimum contributions. It aims to make pension saving for the self-employed as easy as possible by enabling them to sign up for free, and pay into their pension according to their current income, with no minimum saving amounts. One-off or regular contributions via bank transfer or direct debit can be set up online or via the PensionBee app, and made from personal or business bank accounts, as a sole trader or a limited company respectively.

Hub Pension Consulting has introduced an automated abridged advice service.

The service is for people looking for a defined benefit (DB) pension transfer and follows the completion of Hub’s rebrand after its acquisition by Just Group. The new brand brings the business under the umbrella of Hub Group, whose operating companies deliver advice solutions for corporate clients and pension schemes. The new service aims to help scheme members identify if a DB transfer will not benefit them by combining a digital fact find and triage stage and those members for whom a transfer may be appropriate progress to a personalised advice discussion.

Greencoat Vela has acquired a 24 per cent stake in a portfolio of four offshore wind farms in coastal South Texas.

Greencoat Vela is an investment vehicle established for the sole purpose of investing in the portfolio, funded in partnership with clients of BAE Systems Pension Funds Investment Management and Towers Watson Investment Services. The transaction marks the first investment in the US by funds managed by Greencoat. Greencoat’s ‘secure income’ investment model aims to provide investors with predictable, stable income on a long-term, buy and hold basis.

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