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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.

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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.

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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.

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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.

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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.

Comments (2)

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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.

Comments (7)

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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.

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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. 

Comments (26)

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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.

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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.

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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. 

Comments (1)

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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.

Comments (3)

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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. 

Comments (1)

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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.

Comments (24)

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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”.

Comments (2)

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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.

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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.

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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. 

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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)

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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.

Comments (1)

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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.

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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.

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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.

Comments (2)

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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.

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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.

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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.

Comments (1)

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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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