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FSCS declares four advice firms in default after Sipp claims

29 July 2014 12:03 pm | By Tessa Norman

Firms declared in default following FSCS investigations into Sipp advice claims. 

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B&CE recruits business development director from Nest

29 July 2014 11:32 am | By Tom Selby

Roy Porter joined B&CE on 28 July.


Iress: Advised annuity sales down 40%

29 July 2014 8:06 am | By Michael Glenister

Average pot size at its highest in two years, according to Iress data.


LV= reports boost in annuity sales despite expected Budget hit

28 July 2014 1:30 pm | By Michael Glenister

LV= chief executive says annuity sales could have been “significantly down” due to Budget.


FOS upholds complaint against Berkeley Burke over Ucis

25 July 2014 9:30 am | By Tessa Norman

FOS ruled Berkeley Burke failed to carry out adequate due diligence on Ucis investment. 

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Now: Pensions reveals default investment shift after Budget bombshell

24 July 2014 12:09 pm | By Michael Glenister

Savers to be moved into cash ten years before retirement date.

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TPR targets consumers with 'hard-hitting' pensions liberation campaign

24 July 2014 8:40 am | By Tom Selby

The regulator says it knows of one individual who took his own life after losing his pension to fraudsters.

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Advisers face writing blank cheque to fund Osborne's guidance guarantee

24 July 2014 8:30 am | By Steve Tolley, Tessa Norman

Cost of delivering Chancellor George Osborne’s guidance guarantee could spiral as savers access the service as many times as they like.

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Fidelity launches UK retirement service and drops Annuity Direct brand

23 July 2014 12:44 pm | By Tom Selby

Fidelity has launched a UK retirement service for advisers and direct customers in the wake of the Budget reforms.


Gallagher parent acquires Baker Tilly Employee Benefits

23 July 2014 11:32 am | By Michael Glenister

The latest deal follows the recent acquisitions of Oval and employee communications firm Shilling.

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Treasury warns providers over 'copycat' guidance schemes

22 July 2014 3:17 pm | By Steve Tolley

Treasury economic secretary Andrea Leadsom says “poor imitations” will not be welcome.

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Govt confirms cut in state pension delay incentive

22 July 2014 12:39 pm | By Steve Tolley

Pensions minister Steve Webb confirms annual payment increase of deferred state pensions cut to 5.8 per cent.

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FOS reports drop in complaints but Sipp cases surge

22 July 2014 9:07 am | By Tom Selby

The Financial Ombudsman Service has reported a 46 per cent drop in year-on-year complaints between April and June.

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Andrew Tyrie

TSC chair Andrew Tyrie raises concerns over MAS guidance role

21 July 2014 3:34 pm | By Steve Tolley

TSC chair Andrew Tyrie has written to the Chancellor over concerns about MAS’s role in guidance guarantee.

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Apfa slams FCA move to make advisers fund Budget guidance

21 July 2014 3:14 pm | By Tessa Norman

It is “inappropriate” for advisers to pay for the Budget guidance service, says Apfa

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FCA: What Budget guidance will look like

21 July 2014 1:55 pm | By Steve Tolley

FCA reveals there will be no limit to how many times savers can use the service in retirement.


Advisers could pay 30% of guidance costs

21 July 2014 1:23 pm | By Tessa Norman

FCA proposes advisers paying largest proportion of guidance levy. 

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Treasury reveals tax change plans following Budget pensions overhaul

21 July 2014 1:21 pm | By Tom Selby

Government sets out proposals to amend tax legislation in bid to encourage a wave of product innovation.


Govt could boost DB flexibility after Budget overhaul

21 July 2014 10:16 am | By Steve Tolley

Government says it will consult on allowing DB scheme members access to funds without need to transfer to DC scheme.


FCA warns on ‘widespread’ failings in third Sipp thematic review

21 July 2014 9:54 am | By Tessa Norman

Regulator urges Sipp operators to take action in ‘Dear CEO’ letter. 

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Govt to mandate advice for DB to DC transfers

21 July 2014 9:32 am | By Steve Tolley

Employers will have to fund advice for transfers within same scheme and ETV exercises.

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FCA review finds poor advice in third of ETV pension transfers

21 July 2014 9:21 am | By Tessa Norman

Advice firms will be told to provide redress after review identified poor practice. 

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Advisers to pay towards Budget guidance costs

21 July 2014 8:56 am | By Steve Tolley

Guidance guarantee will not be delivered by insurers.

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Treasury to unveil details of pensions revolution; moves to close tax relief loophole

21 July 2014 8:42 am | By Natalie Holt

Govt set to address concerns over tax-free cash “recycling”.

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HMRC confirms interim Budget reform rules

18 July 2014 12:07 pm | By Steve Tolley

HMRC guidance gives those taking lump sum before next April extra time to assess options.


HMRC rejects nearly 400 schemes in pensions liberation crackdown

18 July 2014 11:21 am | By Michael Glenister

Government says it aims to “detect, disrupt and deter promoters of pension liberation schemes”.

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Govt under fire for breaking pensions policy consensus

18 July 2014 8:32 am | By Steve Tolley

Work and Pensions select committee chair Anne Begg says pension freedom agenda undermines consensus.

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Pensions Policy Institute: Self-employed at risk under auto-enrolment

17 July 2014 2:16 pm | By Michael Glenister

In 2011 only a third of self-employed workers had a pension.


FCA refers two Sipp firms to enforcement

17 July 2014 1:56 pm | By Tessa Norman

Individuals at Sipp providers in process of being referred to enforcement following thematic review. 


Reliance Mutual to exit annuity market

17 July 2014 1:19 pm | By Michael Glenister

Enhanced annuity provider to exit market from 25 July.

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TPR investigates 785 cases over auto-enrol non-compliance

17 July 2014 11:26 am | By Tom Selby

The Pensions Regulator conducted 785 investigations into auto-enrolment non-compliance between April 2013 and March this year, using its formal powers on 18 occasions.

Comments (1)

Anne Begg

Dame Anne Begg: George Osborne's 'advice' pledge 'irresponsible'

17 July 2014 9:48 am | By Steve Tolley

Work and Pensions select committee chair Dame Anne Begg says politicians must not confuse guidance and advice.

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SNP's Stewart Hosie and Labour's Gregg McClymont go head-to-head over Scottish independence

17 July 2014 8:30 am

SNP finance and treasury spokesman Stewart Hosie and Labour shadow pensions minister Gregg McClymont put forward competing arguments for and against a Yes vote.


SMEs warned over auto-enrolment non-compliance bills

15 July 2014 8:00 am | By Tom Selby

Small firms could be hit with bills totalling tens of thousands of pounds.


Could FCA simplified advice review see the MAS become regulated?

14 July 2014 2:40 pm | By Michael Glenister

Hargreaves Lansdown analysis of non-advised sales review indicates re-definition of advice.

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Royal London commits to pay auto-enrol commission until 2016

14 July 2014 11:43 am | By Michael Glenister

Provider will levy employer fee on some schemes priced above 0.75 per cent charge cap.


Friends Life appoints former Aviva director as UK chief exec

14 July 2014 8:30 am | By Tom Selby

Andy Curran replaces John Van Der Wielen, who is set to become executive chairman of Friends Life International, Money Marketing can reveal.


Pot follows member could trigger spike in pensions liberation

11 July 2014 12:22 pm | By Michael Glenister

DWP says it is conscious of risk posed by opportunistic liberators.

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DWP: Pensions 'pot follows member' to be run by private vendors

11 July 2014 12:03 pm | By Michael Glenister

Government-run database shunned in favour of private-sector IT vendors.

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Nest loses over £1m in fraud incident

10 July 2014 3:06 pm | By Tom Selby

Government-backed pension scheme Nest has recovered just £300,000 of the £1.4m lost in a mandate fraud last year.

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