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Scottish Widows appoints new annuities director

23 April 2014 2:31 pm | By Tom Selby

Stuart Paton Evans will be responsible for developing retirement income solutions following radical pension reforms announced last month.

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Just Retirement latest to add one-year fixed term annuity

22 April 2014 2:45 pm | By Michael Glenister

Annuity provider says product designed to allow retirees to remove investment risk until April 2015.

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Royal London adds £318m in with-profits bonuses in 2013

22 April 2014 10:56 am | By Tessa Norman

Life office allocates further £81m through mutual dividend

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Providers scramble as Budget changes blow apart default investment strategies

22 April 2014 8:30 am | By Tom Selby

Changes announced by Chancellor George Osborne last month have blown a hole in providers’ automatic enrolment default investment strategies.

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Insurers refuse to confirm charges stance on AMD ban

17 April 2014 1:00 pm | By Tom Selby

Only Friends Life has confirmed it will reduce all member charges to active rate ahead of active member discount ban.

Comments (1)

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L&G to pilot pensions guidance with LEBC and TPAS

17 April 2014 9:30 am | By Tom Selby

Results of guidance pilot will feed into the FCA’s consultation on retirement guidance.

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Govt pensions guidance to include life expectancy estimates

17 April 2014 8:46 am | By Natalie Holt

Steve Webb says giving people an indication of how long they will live at retirement will help them make better financial decisions.

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F&TRC to launch auto-enrol and protection comparison service

17 April 2014 | By Samuel Dale

The comparison tool will be free to advisers and sold to providers.

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PwC warns of pensions advice 'black hole' in wake of Budget reforms

17 April 2014 | By Michael Glenister

Consultant surveys 1208 consumers with 63 per cent wanting retirement advice

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Standard Life hits small firms with £1,200 fee following charge cap

17 April 2014 | By Tom Selby

Provider will impose a £100 per month “scheme management fee” on small schemes with low average contributions who have already agreed a charge above 0.75 per cent.

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Scottish Widows to implement charge cap early ahead of 'comprehensive' review

16 April 2014 4:39 pm | By Tom Selby

Provider plans to review its existing book of business ahead of April 2015 charge cap deadline.

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Majority of savers want face-to-face pensions guidance

16 April 2014 11:27 am | By Tom Selby

The Government has promised everyone will be offered free, impartial, face-to-face guidance on their retirement options.

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L&G: Pension tax relief is 'designed by the rich, for the rich'

16 April 2014 10:01 am | By Michael Glenister

Legal & General chief executive says the current pensions system which rewards the richest needs to be tackled in next round of pension reforms.

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Standard Life hits small firms with £1,200 fee following charge cap

15 April 2014 11:27 am | By Tom Selby

Provider will impose a £100 per month “scheme management fee” on small schemes with low average contributions who have already agreed a charge above 0.75 per cent.

Comments (5)

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LV= recruits Angie Glover as retirement solutions transformation director

15 April 2014 10:18 am | By Tom Selby

Glover will lead a new development programme focused on ensuring the provider’s product set is meeting customer demands.

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Aviva sells stake in South Korean life insurance firm

14 April 2014 9:39 am | By Tom Selby

Decision is part of a global effort to narrow Aviva’s focus and cut costs by £400m.

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PwC warns of pensions advice 'black hole' in wake of Budget reforms

14 April 2014 9:38 am | By Michael Glenister

Research suggests although many will want advice on accessing their pension, pot sizes will not justify cost of advice.

Comments (2)

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Phoenix wades in on FCA closed book row

14 April 2014 8:38 am | By Natalie Holt

Closed book provider says incident is a “self-inflicted wound” for the regulator.

Comments (3)

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Govt slashes auto-enrolment opt-out estimate to 15%

11 April 2014 2:21 pm | By Tom Selby

Revision follows positive early signs among employees of large companies.

Comments (3)

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Providers slow to sign up to pension transfer standard

10 April 2014 1:00 pm | By Michael Glenister

Tisa pension transfer plans similar to platform asset re-reg guidelines 

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F&TRC to launch auto-enrol and protection comparison service

10 April 2014 11:18 am | By Samuel Dale

The comprison tool will be free to advisers and sold to providers.

Comments (1)

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Friends Life scraps active member discounts

10 April 2014 9:47 am | By Tom Selby

Provider will allow existing clients to shift to a single charge at the current active rate.

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HMRC: Savers will not face tax-free cash penalties following Budget reforms

10 April 2014 8:44 am | By Tom Selby

Insurers had raised concerns that HMRC rules prevent them from putting tax-free lump sums back in savers’ pension pots.

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Govt unveils pricing plan for state pension top-ups

10 April 2014 | By Samuel Dale

Govt says a 65 year old will get £1 extra state pension a week per £890.

Comments (3)

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Aegon and Cofunds cut platform charges following Budget reforms

10 April 2014 | By Michael Glenister

Aegon has become the first advised platform to introduce a cap on charges.

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Wells Street Journal: A sobering time for life office PRs

10 April 2014

These are sobering times for the insurance industry, particularly if you were a life office PR trying to get a drink at last week’s ABI Media Awards.

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Pru halves drawdown minimum investment to £25k

9 April 2014 2:10 pm | By Tom Selby

Reduction follows radical pension reforms announced by Chancellor George Osborne last month.

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Barclays tops FCA complaints data again

9 April 2014 12:06 pm | By Tessa Norman

FCA reveals most complained about firms in second half of 2013

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Just Retirement issues annuity sales warning following Budget pensions bombshell

9 April 2014 9:45 am | By Tom Selby

Just Retirement chief executive Rodney Cook says 7 per cent sales growth prediction is now “inappropriate”.

Comments (4)

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'Free, impartial, face-to-face advice': Can Osborne deliver on his Budget pension promise?

9 April 2014 8:34 am | By Tom Selby, Samuel Dale

Advisers question whether the Government can deliver on George Osborne’s at-retirement guidance pledge.

Comments (13)

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Prudential hits back in pensions guidance war of words

8 April 2014 3:53 pm | By Tom Selby

Pru distribution director Russell Warwick says dismissing role of providers is “short-sighted at best”.

Comments (3)

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ABI: Consumers will pay for 'free' guidance service

8 April 2014 12:58 pm | By Samuel Dale

Chancellor George Osborne said the industry will pay for guidance regime but the ABI says costs need to be passed on.

Comments (5)

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ONS accounting overhaul set to boost UK savings rates

8 April 2014 8:33 am | By Tom Selby

Accounting change will add between 2.5 per cent and 5 per cent to the official measure of GDP.

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Osborne grilled by MPs on impact of Budget pensions revolution

4 April 2014 3:12 pm | By Samuel Dale

Chancellor George Osborne faced questions on how his reforms would impact house prices, social care and annuities.

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Insurers at war over Osborne’s pensions guidance plans

4 April 2014 1:40 pm | By Tom Selby

At least two ABI members raised the possibility of quitting the trade body over the issue.

Comments (3)

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Pensions minister Steve Webb hints at reprieve for private sector DB transfers

3 April 2014 11:29 am | By Tom Selby

Pensions minister Steve Webb says he “instinctively” wants to allow transfers from DB to DC to be allowed.

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Steve Webb: Govt will need to answer ‘8% question’ on auto-enrolment

3 April 2014 11:29 am | By Tom Selby

Pensions minister Steve Webb says 8 per cent minimum auto-enrolment contribution “not enough” for many people.

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Investors consider legal action over FCA legacy review blunder

3 April 2014 8:40 am | By Tom Selby

“Half a dozen” large investors are consulting lawyers over FCA legacy review leak, according to the FT.

Comments (1)

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Is there a place for insurers in Osborne’s brave new pensions world? download

3 April 2014 8:30 am | By Tom Selby

Radical reforms of the pensions market announced in recent weeks are forcing insurers to fundamentally re-evaluate their business models.

Comments (7)

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Pensions minister Steve Webb: 'The risk of people blowing the lot is greatly overstated'

3 April 2014 | By Tom Selby

Steve Webb speaks to Money Marketing about the Government’s radical pensions reform agenda

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