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Former L&G annuities boss Tim Gosden returns to MGM

2 March 2015 1:51 pm | By Mark Sands

L&G’s former head of strategy for individual annuities has returned to MGM Advantage after a decade away.


Research: One-in-ten savers plan to buy an annuity post-April

2 March 2015 10:57 am | By Mark Sands

Just over one-in-ten people with a defined contribution private or company pension are planning to buy an annuity, according to figures from Yougov.

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FCA and DWP publish call for evidence on pension charges

2 March 2015 8:44 am | By Tessa Norman

Regulator asking for views on how transaction costs should be reported. 

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Labour under fire over pensions tax raid plans

27 February 2015 4:43 pm | By Mark Sands

Labour’s plans to cut lifetime and annual allowances for tax-free pension savings have been slammed by the industry.

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L&G pensions director Adrian Boulding exits

27 February 2015 2:53 pm | By Sam Brodbeck

Legal & General pensions strategy director Adrian Boulding is to leave the insurer in August as the exodus of senior pensions staff continues.


Old Mutual Wealth posts £227m profit as sales rise 11%

27 February 2015 1:43 pm | By Tom Selby

Old Mutual Wealth has posted a 5 per cent increase in adjusted operating profits, from £217m to £227m, as sales surged to £16bn.


Labour plans annual and lifetime pension allowance cuts

27 February 2015 1:12 pm | By Mark Sands

Labour leader Ed Miliband has laid out plans to cut pensions tax reliefs in order to fund a £3,000 reduction in university tuition fees.

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FCA reveals pension freedoms 'second line of defence' rules

27 February 2015 11:58 am | By Sam Brodbeck

Providers must provide customers with personalised risk warnings under rules published by the regulator today.

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ScotWids plans £10k minimum for non-advised drawdown

27 February 2015 10:12 am | By Sam Brodbeck

Savers with more than £10,000 in their pension pots will be able to enter into a Scottish Widows drawdown contract without an adviser.

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Experts warn over 'misleading' Rightmove Sipp promotion

27 February 2015 9:30 am | By Tessa Norman

Promotional Sipp email branded ‘misleading’ by experts. 

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Is the 'pensioner bribe' behind £1.3bn fall in fund flows?

26 February 2015 4:00 pm | By Michael Berry

Are pensioner bonds behind the £1.3bn fall in January retail fund flows?

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Drawdown continues to eat into annuity sales

26 February 2015 1:56 pm | By Sam Brodbeck

Drawdown sales have more than doubled year-on-year, while new annuity business has crashed 64 per cent, latest ABI stats show.


Advisers criticise FSCS over 'unfair' Sipp stance

26 February 2015 1:00 pm | By Tessa Norman

FSCS will levy advisers for investment failures as part of claims about Sipp advice. 

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Zurich launches target-date funds to meet post-freedoms demand

26 February 2015 11:37 am | By Sam Brodbeck

Zurich is offering pension customers 12 new target date funds to meet changing appetites ahead of the new freedoms coming into force.


L&G plans fixed-term annuity launch

26 February 2015 11:00 am | By Sam Brodbeck

Legal & General is to launch a new fixed-term annuity to help savers limit the income tax they pay when accessing their pensions after April.

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Govt refuses to disclose pension guidance take-up estimate

26 February 2015 9:30 am | By Sam Brodbeck

Reforms risk “descending into chaos” unless Government publishes estimate.

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Rising from the ashes: Will annuities recover from Osborne's Budget bombshell?

26 February 2015 8:30 am | By Sam Brodbeck

Provider predicts annuities will hit pre-Budget levels in just two years’ time.

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Just Retirement targets pension freedoms with simplified platform launch

26 February 2015 | By Sam Brodbeck

Savers will be able to buy an annuity and keep a “rainy day” fund through the platform.


Webb turns screw on providers over legacy charges

25 February 2015 4:29 pm | By Sam Brodbeck

Pensions minister Steve Webb has once again threatened to “name and shame” providers who refuse to tackle legacy issues.

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Alliance Trust Savings scraps drawdown set-up fees

25 February 2015 2:37 pm | By Tessa Norman

Platform is introducing a flat fee for drawdown from 2016. 

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ABI chairman: Legacy of commission is 'open sore' that undermines consumer trust

25 February 2015 1:41 pm | By Sam Brodbeck

Commission paid to advisers is an “open sore” that continues to undermine confidence in the insurance industry, ABI chair and AXA UK group chief executive Paul Evans says.

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Xafinity launches low-cost Sipp with two investment accounts

25 February 2015 1:34 pm | By Tessa Norman

Accounts will allow clients to drawdown funds as well as pursuing high returns, says Xafinity. 

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Just Retirement targets pension freedoms with simplified platform launch

25 February 2015 8:59 am | By Sam Brodbeck

Savers will be able to buy an annuity and keep a “rainy day” fund through the platform.


ABI warns Govt 'not ready' for pension freedoms

25 February 2015 8:57 am | By Sam Brodbeck

The pensions industry is being hampered in its efforts to be ready for the pension reforms because crucial details remain unanswered by the Government, the ABI says.


Phoenix boosts with-profits annual bonus payouts

24 February 2015 12:34 pm | By Sam Brodbeck

More than 77 per cent of policies receive annual bonus.


Labour 'could slash lifetime allowance to fund tuition fee cuts'

23 February 2015 12:24 pm | By Mark Sands

Opposition is said to be eyeing a reduction in the annual or lifetime allowance to reduce tuition fees from £9,000 to £6,000.

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Nutmeg sets personal pension charges starting at 0.3%

23 February 2015 10:25 am | By Sam Brodbeck

Discretionary manager launches personal pension with £5,000 minimum investment.

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ABI sets out 'nudge' tactics for pensions guidance

23 February 2015 8:37 am | By Sam Brodbeck

Report recommends “cooling off” periods if savers take too much of their pension pot at once.

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Govt confirms extension of annuity death benefit changes

20 February 2015 2:51 pm | By Sam Brodbeck

Nominees and successors will be able to use untouched pension savings to buy an annuity.

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CII overhauls qualifications in line with pension freedoms

20 February 2015 11:00 am | By Mark Sands

The CII is to offer a new unit to train advisers on pension freedoms as soon as rules are finalised.

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Steve Bee unveils new auto-enrol compliance offering

20 February 2015 9:30 am | By Tom Selby, Sam Brodbeck

Steve Bee has launched a new administration system designed to enable accountants to help small businesses comply with their auto-enrolment duties.


Govt urged to default savers into deferred annuities

20 February 2015 9:05 am | By Sam Brodbeck

Centre for Policy Studies calls for ‘auto-protection’ to protect people at risk from running out of cash.

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Standard Life pays out £17m refund to with-profits fund

20 February 2015 8:53 am | By Natalie Holt

Provider is also expecting to annuity profits this year to fall by up to £15m.

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Is regulation killing the Sipp market?

20 February 2015 8:30 am | By Sam Brodbeck

FCA needs to give greater clarity over commercial property status, say providers

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Aegon earnings up 37% but life business slumps by a quarter

19 February 2015 10:38 am | By Sam Brodbeck

Aegon UK’s pre-tax earnings grew 37 per cent year-on-year despite the firm’s life business being hit by the costs of complying with Solvency II regulations.

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FCA under pressure to water down 'second line of defence' rules

19 February 2015 9:30 am | By Sam Brodbeck

Exclude small pots and Pension Wise users from additional protection requirement, says The People’s Pension.


L&G adds £387m in with-profits bonuses as investment returns hit 9.6%

19 February 2015 8:34 am | By Tom Selby

Legal & General added £387m in bonuses to 445,000 with-profits policies during 2014 as the provider delivered pre-tax investment returns of 9.6 per cent.


Govt urged to mandate advice before savers cash in pension guarantees

18 February 2015 3:36 pm | By Sam Brodbeck

Members need to be protected from giving up valuable benefits.

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Advice firm LEBC posts £1.1m profit

18 February 2015 2:21 pm | By Sam Brodbeck

Company warns opportunities created by pension freedoms could be stunted by lack of “high calibre” advisers.

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MetLife cuts rates on guaranteed drawdown products

18 February 2015 12:22 pm | By Sam Brodbeck

Insurer blames decline in long-term interest rates and stunted global growth.

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