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Stay of execution: Have providers dodged a bullet on annuity misselling?

19 December 2014 8:30 am | By Sam Brodbeck

Why is the FCA only now addressing a problem which it has been warned about for years?

Comments (9)

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Scottish Widows data protection error could cost customer £50k

18 December 2014 11:00 am | By Tessa Norman

Customer claims the provider has cost him £50,000 after sending details of his pension to his ex-wife. 

Comments (14)

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Steve Webb summons providers over pension charges

18 December 2014 8:52 am | By Sam Brodbeck

Pensions minister says pot-follows-member could be extended to high charging schemes.

Comments (7)

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Pensions guidance qualification launched

18 December 2014 8:20 am | By Sam Brodbeck

PMI and JLT aim certificate at administrators, paraplanners and HR professionals.

Comments (6)

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Govt to freeze auto-enrol earnings trigger at £10k

18 December 2014 8:15 am | By Sam Brodbeck

Abolishing lower limit rejected to spare employers added cost.

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MPs warn FCA of ignoring duties to pension savers

17 December 2014 3:44 pm | By Sam Brodbeck

DWP committee say poor customer outcomes will be “FCA’s fault”.

Comments (7)

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Landmark ruling orders transfer out of liberation scheme

17 December 2014 1:30 pm | By Sam Brodbeck

But Pensions Ombudsman warns member’s entire savings could have already “disappeared”.

Comments (2)

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L&G scraps face-to-face adviser support team

17 December 2014 11:00 am | By Tom Selby, Sam Brodbeck

Insurer responds to “changing adviser behaviour”.

Comments (17)

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Legacy pension audit reveals £26bn exposed to high charges

17 December 2014 9:04 am | By Sam Brodbeck

Nearly £1bn of pension savings are being charged over 3 per cent, according to the Independent Project Board.

Comments (6)

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Clive Adamson: Closed book probe is 'most serious' event in FCA's history

16 December 2014 1:52 pm | By Sam Brodbeck

FCA comms director says she “would have gone anyway” over plans to demote her department

Comments (18)

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Pru launches flexible drawdown offering

16 December 2014 10:54 am | By Tom Selby

Prudential has become the latest major insurer to launch a flexible drawdown proposition ahead of new Budget freedoms coming into force.

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MAS backtracks on adviser directory criteria

15 December 2014 2:14 pm | By Tessa Norman

Firms will not have to specialise in retirement advice to be included in directory.

Comments (2)

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Pensioner bonds to pay up to 4%

12 December 2014 4:38 pm | By Sam Brodbeck

One-year bonds to pay 2.8 per cent while three-year bonds will pay 4 per cent.

Comments (1)

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London & Colonial targets pension freedoms with guaranteed drawdown launch

12 December 2014 4:06 pm | By Sam Brodbeck

Adviser-led product aims to meet post-Budget appetite for flexibility and certainty.

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Govt urged to ban 'rollover' pension sales

12 December 2014 10:19 am | By Sam Brodbeck

Just Retirement says customers should be forced on to the open market at retirement.

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Going in blind: Providers navigate the perils of non-advised drawdown

12 December 2014 8:00 am | By Sam Brodbeck

Providers’ non-advised products could leave savers exposed.

Comments (9)

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Advisers say flexi-access drawdown poses biggest Budget risk

11 December 2014 2:00 pm | By Sam Brodbeck

Research also finds advisers backing IHT reform.

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MetLife UK plans 2015 guaranteed Isa launch

11 December 2014 10:00 am | By Sam Brodbeck

Customers will be able to choose capital or income guarantee.

Comments (1)

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FCA to ditch ABI retirement shopping around code; reviews post-2008 annuity sales

11 December 2014 9:01 am | By Sam Brodbeck

Providers found actively ignoring ‘shopping around’ principles.

Comments (1)

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DWP: Pot follows member to launch in autumn 2016

11 December 2014 8:58 am | By Tessa Norman

Government to consult on draft regulations next year. 

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FCA recommends Dutch-style 'Pensions Dashboard' for UK

11 December 2014 8:34 am | By Tom Selby

Regulator acknowledges cost could be barrier to development but argues digital tool would boost consumer engagement.

Comments (3)

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Industry backs Govt decision on post-75 pensions tax relief

11 December 2014 | By Sam Brodbeck

The Government has dropped plans to extend tax relief to pension contributions made by people over the age of 75.

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OECD issues warning on pension freedoms

11 December 2014 | By Sam Brodbeck

Organisation recommends deferred-life annuities to meet demands for flexibility and guarantees.

Comments (1)

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Nutmeg to launch personal pension

11 December 2014 | By Sam Brodbeck

Pension will be administered by Hornbuckle, with launch early next year.

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Berkeley Burke demands suitability report for client transfers

10 December 2014 3:25 pm | By Sam Brodbeck

Sipp provider changes process after FCA visit.

Comments (2)

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Protection Review expands into retirement income market

10 December 2014 10:35 am | By Devraj Ray

New body will host its inaugural conference in February 2015.

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True Potential enters auto-enrolment market

10 December 2014 8:51 am | By Sam Brodbeck

Employers can choose from a range of LGIM default funds charging up to 0.74 per cent.

Comments (8)

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Landmark Australian report warns on pensions 'bank accounts'

9 December 2014 4:16 pm | By Sam Brodbeck

Wide-ranging inquiry warns bank account-style pensions lead to savers suffering from reduced living standards.

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L&G reveals post-Budget investment strategy

8 December 2014 12:27 pm | By Sam Brodbeck

Mastertrust will offer members three investment options three years before retirement.

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OECD issues warning on pension freedoms

8 December 2014 12:20 pm | By Sam Brodbeck

Organisation recommends deferred-life annuities to meet demands for flexibility and guarantees.

Comments (3)

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Partnership in record enhanced bulk annuity deal

8 December 2014 10:44 am | By Sam Brodbeck

£206m “top-slicing” transaction helps offset post-Budget fall in individual annuity sales.

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Nutmeg to launch personal pension

8 December 2014 8:30 am | By Sam Brodbeck

Pension will be administered by Hornbuckle, with launch early next year.

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Is Nest the last scheme on the shelf for small employers?

5 December 2014 8:30 am | By Sam Brodbeck

Could Nest become the only option for small firms?

Comments (9)

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Trade body drafts radical pensions tax relief reform plans

4 December 2014 2:00 pm | By Tom Selby

An influential actuarial trade body is drafting radical pensions tax relief reform proposals.

Comments (1)

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Nest tenders for single-year gilts to boost default fund

4 December 2014 11:36 am | By Sam Brodbeck

Funds will be used in youngest and oldest savers’ investment strategies.

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Experts query Govt pension recycling tax leak estimate

4 December 2014 10:44 am | By Sam Brodbeck

Confusion reigns over Treasury projections.

Comments (1)

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Govt urged to hand savers new pension fund transparency powers

4 December 2014 9:30 am | By Sam Brodbeck

Pensions Schemes Bill amendment would give savers new powers to question industry.

Comments (4)

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Nudge theory: How behavioural economics is shaping financial services

4 December 2014 8:30 am | By Tessa Norman

Policymakers looking to increase take-up of guidance guarantee and move beyond 8 per cent auto-enrolment contributions. 

Comments (1)

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Chancellor extends death tax reforms to annuities

4 December 2014 | By Sam Brodbeck

Widowers will no longer have to pay income tax on joint-life annuity payments under proposals widely expected to be unveiled by Chancellor George Osborne this week.

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AS 2014: Treasury reveals £730m cost of pensions death tax cut

3 December 2014 3:03 pm | By Sam Brodbeck

But expected growth in public sector transfer set to offset tax loss, Government estimates.

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