Labour wants to save investors from “rip-off” charges, but experts say charge for drawdown is unworkable.
Provider restructuring pensions and investments business.
Proposals to hand the Scottish Parliament autonomy over setting income tax rates could have significant ramifications for pensions tax relief.
Regulator to investigate non-advised drawdown and reveals ‘output document’ in updated standards for guidance guarantee.
Despite plunging individual annuity sales, insurers have enjoyed rocketing shareholder returns.
Bulk annuity deal is the largest of its type to date.
The Scottish Parliament will be handed complete autonomy over setting income tax north of the border in a deal agreed by the Smith Commission, Sky News reports.
Experts question how two very different firms will integrate after proposed merger.
The ABI says while external annuity sales have fallen as a result of the Budget, internal annuity sales remain at similar levels
Experts say the Government should have produced a similar document prior to the Budget.
Shadow Treasury minister Cathy Jamieson pushes Government to review behaviour from new freedoms.
New flexible drawdown product due to launch.
Annuity sales “well below” 50 per cent of pre-Budget levels.
Insurer reportedly held talks with closed book provider alongside Aviva.
Mel Duffield joined think-tank in September 2013.
Adviser-owned wrap Nucleus has launched it annuity portal to the wider market on its platform following a pilot.
Govt has U-turned on plans to force members to contact all previous schemes when they access Budget pensions flexibilities.
HMRC has confirmed ‘stand-alone’ pension lump sums will not be subject to the restricted money purchase annual allowance rules imposed on savers who access the Budget freedoms.
Triple-lock on state pension “lags behind the facts”.
Treasury U-turns on savers’ reporting requirements after just one month.
New rules could act as disincentive for employers encouraging employees to transfer out of DB.
Pensions experts have branded the idea “virtually impossible” to implement.
Aviva shares fell nearly 5 per cent as markets opened this morning.
Consultation aims to understand retirement income needs and design investment strategies to reflect new flexibilities.
The deal would create the largest insurance and savings business in the UK.
The ABI says while external annuity sales have fallen as a result of the Budget, internal annuity sales remain at similar levels.
Five pension schemes have been stopped receiving transfers after a High Court battle.
National Audit Office says the Treasury and HMRC are not monitoring the effectiveness of tax reliefs.
Aviva’s comments follow FCA evidence to parliament that drawdown pots below £50,000 are likely to be unsuitable.
Key Retirement Solutions was still claiming its broking service is “free” a year after it made changes.
FCA head of investment David Geale says drawdown is “unlikely to be suitable” for pots under £50,000.
ABI lashes out at the “very late” DWP actions on auto-enrolment charges.
Lesley Titcomb was instrumental in driving through the mortgage market review.
The Consumer Panel raised the alarm over non-advised drawdown in parliament last week.
Savers who have already started drawing down an inherited pension will not be able to benefit from Chancellor George Osborne’s ‘death tax’ reforms.
Treasury financial secretary David Gauke says Government will take “further action” if losses mount
Industry unites with employees to demand change in Government consultation.
Treasury hints at rethink over much-maligned Budget reporting system.
James Hay has cut its profit forecast for 2014 as pressure on margins and interest incomes weighs on the Sipp provider.
Conservatives and Lib Dems clash over unwinding existing annuity contracts.