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Gregg McClymont

Experts rubbish drawdown charge cap proposal

27 November 2014 3:18 pm | By Sam Brodbeck

Labour wants to save investors from “rip-off” charges, but experts say charge for drawdown is unworkable.

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Taylor-Ronnie-Standard Life-2013

Scottish Widows cuts 130 roles in restructure

27 November 2014 3:17 pm | By Tessa Norman

Provider restructuring pensions and investments business. 


What will Scottish devolution mean for pensions tax relief?

27 November 2014 3:12 pm | By Tom Selby

Proposals to hand the Scottish Parliament autonomy over setting income tax rates could have significant ramifications for pensions tax relief.


FCA to scrutinise non-advised drawdown

27 November 2014 1:18 pm | By Sam Brodbeck

Regulator to investigate non-advised drawdown and reveals ‘output document’ in updated standards for guidance guarantee.

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Insurer share prices rocket despite year of pensions turmoil

27 November 2014 10:00 am | By Samuel Dale

Despite plunging individual annuity sales, insurers have enjoyed rocketing shareholder returns.


L&G secures record-breaking £2.5bn pension buyout

27 November 2014 8:37 am | By Sam Brodbeck

Bulk annuity deal is the largest of its type to date.


Scotland to be handed income tax autonomy in post-referendum deal

27 November 2014 8:35 am | By Tom Selby

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.

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Mega Merger: What does the £5.6bn Aviva/Friends Life deal mean for advisers?

27 November 2014 8:30 am | By Samuel Dale

Experts question how two very different firms will integrate after proposed merger.

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ABI stats reveal Budget impact on annuities market

27 November 2014 | By Tom Selby

The ABI says while external annuity sales have fallen as a result of the Budget, internal annuity sales remain at similar levels


Experts welcome Nest post-Budget review

27 November 2014 | By Sam Brodbeck

Experts say the Government should have produced a similar document prior to the Budget.

David Gauke MP

Treasury refuses to review £2bn pension freedoms tax loophole

26 November 2014 2:06 pm | By Samuel Dale

Shadow Treasury minister Cathy Jamieson pushes Government to review behaviour from new freedoms.

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Axa Wealth scraps pension platform charges

26 November 2014 11:37 am | By Sam Brodbeck

New flexible drawdown product due to launch.

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Partnership banks on US launch and DB deals to counter Budget blow

26 November 2014 10:09 am | By Sam Brodbeck

Annuity sales “well below” 50 per cent of pre-Budget levels.


Friends Life mulled deal with Phoenix

26 November 2014 8:56 am | By Natalie Holt

Insurer reportedly held talks with closed book provider alongside Aviva.


Pensions Policy Institute deputy director to join USS

25 November 2014 4:28 pm | By Sam Brodbeck

Mel Duffield joined think-tank in September 2013.


Nucleus rolls out annuity portal after pilot

25 November 2014 2:46 pm | By Sam Macdonald

Adviser-owned wrap Nucleus has launched it annuity portal to the wider market on its platform following a pilot.


Govt faces calls to scrap Budget reporting demands

25 November 2014 2:32 pm

Govt has U-turned on plans to force members to contact all previous schemes when they access Budget pensions flexibilities.

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HMRC moves to close pension lump sum recycling loophole

25 November 2014 2:32 pm | By Sam Brodbeck

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.

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IFS: Pensioner benefits to rise £12bn in a decade

25 November 2014 10:01 am | By Sam Brodbeck

Triple-lock on state pension “lags behind the facts”.

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Treasury U-turns over 'unworkable' Budget reporting demands

24 November 2014 6:51 pm | By Samuel Dale

Treasury U-turns on savers’ reporting requirements after just one month.

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Employers could be forced to pay for DB transfer advice

24 November 2014 11:23 am | By Samuel Dale

New rules could act as disincentive for employers encouraging employees to transfer out of DB.

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Labour eyes drawdown charge cap

24 November 2014 11:21 am | By Sam Brodbeck

Pensions experts have branded the idea “virtually impossible” to implement.

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Friends Life shares rocket 6% on possible Aviva deal

24 November 2014 10:22 am | By Samuel Dale

Aviva shares fell nearly 5 per cent as markets opened this morning.


'We don't have all the answers': Nest seeks views on post-Budget investment strategies

24 November 2014 9:03 am | By Sam Brodbeck

Consultation aims to understand retirement income needs and design investment strategies to reflect new flexibilities.

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Aviva in talks to buy £5bn Friends Life

21 November 2014 5:24 pm | By Samuel Dale

The deal would create the largest insurance and savings business in the UK.

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Why have internal annuity sales not fallen since the Budget?

21 November 2014 4:50 pm | By Tom Selby

The ABI says while external annuity sales have fallen as a result of the Budget, internal annuity sales remain at similar levels.

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Pensions regulator shuts down £134m liberation schemes

21 November 2014 2:29 pm | By Samuel Dale

Five pension schemes have been stopped receiving transfers after a High Court battle.


Spending watchdog hammers Treasury for losing track of tax relief

21 November 2014 2:07 pm | By Samuel Dale

National Audit Office says the Treasury and HMRC are not monitoring the effectiveness of tax reliefs.


Aviva: Drawdown 'unlikely to be appropriate' for pots below £30K

21 November 2014 9:49 am | By Samuel Dale

Aviva’s comments follow FCA evidence to parliament that drawdown pots below £50,000 are likely to be unsuitable.

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Advisers hit out at KRS 'free' non-advised annuity service claim

21 November 2014 9:30 am | By Samuel Dale

Key Retirement Solutions was still claiming its broking service is “free” a year after it made changes.

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Tug of war: FCA clashes with Treasury over sub-£50K drawdown concerns

21 November 2014 8:30 am | By Samuel Dale

FCA head of investment David Geale says drawdown is “unlikely to be suitable” for pots under £50,000.

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ABI unleashed: Trade body slams lower pensions charge cap as L&G exits

21 November 2014 8:30 am | By Samuel Dale

ABI lashes out at the “very late” DWP actions on auto-enrolment charges.

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FCA chief operating officer quits to become TPR chief exec

20 November 2014 4:29 pm | By Samuel Dale

Lesley Titcomb was instrumental in driving through the mortgage market review.

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Advisers back Consumer Panel warning over 'nightmare' non-advised drawdown

20 November 2014 1:00 pm | By Samuel Dale

The Consumer Panel raised the alarm over non-advised drawdown in parliament last week.

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Industry blasts 'unfair' pension death tax reforms

20 November 2014 12:00 pm | By Tom Selby

Savers who have already started drawing down an inherited pension will not be able to benefit from Chancellor George Osborne’s ‘death tax’ reforms.


Experts: Treasury warning won't deter pensions recycling

20 November 2014 | By Samuel Dale

Treasury financial secretary David Gauke says Government will take “further action” if losses mount


Clamour grows for DWP to lower auto-enrol earnings trigger

19 November 2014 3:49 pm | By Samuel Dale

Industry unites with employees to demand change in Government consultation.

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Treasury responds to concerns over 'harsh' Budget pension fines

19 November 2014 3:41 pm | By Tom Selby

Treasury hints at rethink over much-maligned Budget reporting system.

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James Hay profits hit as interest income plummets £1m

19 November 2014 10:09 am | By Tom Selby

James Hay has cut its profit forecast for 2014 as pressure on margins and interest incomes weighs on the Sipp provider.

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David Gauke MP

Treasury dismisses Steve Webb plan to 'unwind' annuities

19 November 2014 8:39 am | By Samuel Dale

Conservatives and Lib Dems clash over unwinding existing annuity contracts.

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