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Steve Webb presses FCA on pensions guidance safeguards

21 October 2014 12:06 pm | By Sam Brodbeck

Regulator says it has powers to take early action on “flaky” post-retirement products.

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TPAS estimates 25% take-up of pensions guidance next year

21 October 2014 11:54 am | By Samuel Dale

TPAS set out details of how it will deliver pensions guidance from next April.

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Govt reveals tough new sanctions for pensions guidance fraudsters

21 October 2014 10:38 am | By Tom Selby

Anyone caught impersonating the Government’s “guidance guarantee” risks being hit with a fine or a jail sentence.

Comments (5)

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Data protection may be stumbling block for guidance guarantee

21 October 2014 9:30 am | By Sam Brodbeck

Rules restricting the sharing of personal data may block early intervention plans from guidance providers, experts are warning.

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Equity release lending surges past £1bn in 2014

21 October 2014 8:35 am | By Tom Selby

The total value of equity release lending increased by almost a third year-on-year in the third quarter.

Comments (1)

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Pensions Ombudsman steps down two years early

20 October 2014 3:50 pm

DWP also seeking new deputy Pensions Ombudsman.

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Advisers call for MAS to be scrapped after pensions guidance snub

20 October 2014 11:40 am | By Samuel Dale

The Treasury has axed the Money Advice Service from delivering pensions guidance next year.

Comments (7)

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A third of DB members to exit post-Budget

20 October 2014 11:01 am | By Sam Brodbeck

Actuaries predict one in three members will leave DB schemes in search of new flexibilities.

Comments (1)

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Treasury axes MAS from delivering pensions guidance

18 October 2014 8:00 am | By Samuel Dale

The Pensions Advisory Service and Citizens Advice will deliver the guaranteed guidance sessions.

Comments (21)

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Experts slam 'crazy' Steve Webb plan to unwind annuities

17 October 2014 4:13 pm | By Samuel Dale

Pensions minister Steve Webb wants to unwind annuity deals agreed before the Budget.

Comments (12)

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Experts pour cold water on proposal to scrap NICs

17 October 2014 2:00 pm | By Sam Brodbeck

A think-tank’s proposal to combine National Insurance and income tax is laudable but likely to be thwarted by lack of political will.

Comments (1)

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TUC: Pensions governance committees will be 'toothless'

17 October 2014 2:00 pm | By Sam Brodbeck

Trade union hits out at proposals to boost governance for contract-based pension schemes.

Comments (1)

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Cofunds launches self-direct Sipp product

17 October 2014 12:51 pm | By Sam Macdonald

The platform says the move has been made to offer its self-directed intermediaries a Sipp product.

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Govt excludes 'defined ambition' schemes from 0.75% pensions charge cap

17 October 2014 12:34 pm | By Tom Selby

DWP confirms it plans to press ahead with a 0.75 per cent price ceiling for workplace schemes in April 2015.

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Pensions minister calls for ability to 'unwind' pre-Budget annuities

17 October 2014 9:42 am | By Sam Brodbeck

Steve Webb argues people should be able to turn contracts back into cash.

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Exit blocked? Providers shun 'insistent' DB transfers amid regulatory fears

17 October 2014 8:30 am | By Sam Brodbeck

Some people will find their paths to George Osborne’s pension freedoms blocked by providers unwilling to take on DB transfers.

Comments (2)

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FCA: There will be no 'backstop' to guidance guarantee

16 October 2014 4:19 pm | By Sam Brodbeck

Savers who spurn the offer of free retirement guidance and help from their pension provider will be left to their own devices.

Comments (3)

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Consumer Panel raises concerns over ‘high-risk’ Sipps

16 October 2014 3:00 pm | By Tessa Norman

Panel raises concerns with FCA board over Sipp advice.

Comments (2)

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Regulator prepares for crackdown on 'unacceptable' auto-enrolment non-compliance

16 October 2014 2:13 pm | By Sam Brodbeck

TPR expecting greater numbers of firms failing to meet their auto-enrolment duties.

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Half of retirees have no plan for pension freedoms

16 October 2014 2:09 pm | By Samuel Dale

One-third of those surveyed will use a regulated adviser to access new freedoms.

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FOS ruling on HSBC could open 'can of worms' on trail commission

16 October 2014 1:00 pm | By Samuel Dale

The Financial Ombudsman Service has ordered HSBC to repay trail commission

Comments (9)

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Labour warns over lack of pension drawdown controls

16 October 2014 11:04 am | By Sam Brodbeck

Shadow pensions minister says party will “go with the grain” of the Budget reforms.

Comments (1)

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Does Osborne's 'guidance guarantee' need a mass awareness campaign?

16 October 2014 11:00 am | By Samuel Dale

Labour says the Legal & General guidance pilot should act as a “warning” to the Government.

Comments (3)

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Australian pensions chief warns of Budget 'disaster'

16 October 2014 9:56 am | By Sam Brodbeck

The chief executive of the Association of Superannuation Funds of Australia has warned the Budget reforms could be a “disaster waiting to happen”.

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Partnership sales plummet 70% after Budget bombshell

16 October 2014 9:21 am | By Samuel Dale

Specialist annuity provider Partnership is still coping with the fallout from new rules on pension freedoms.

Comments (3)

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Govt tax cuts create 'severe unintended consequences' for auto-enrolment

16 October 2014 | By Sam Brodbeck

Pensions heavyweights warn of “unintended consequences” of cutting taxes on low earners’ pensions

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Govt urged to rethink 'corrosive' auto-enrol earnings rules

15 October 2014 3:00 pm | By Tom Selby

Policymakers are facing calls to rethink the way automatic enrolment contributions are calculated after experts raised concerns the current method penalises low earners.

Comments (2)

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Govt moves to close flexible annuity recycling loophole

15 October 2014 1:33 pm | By Tom Selby

Flexible annuities will be subject to a lower annual allowance of £10,000.

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Savers given new admin headache when they access pensions

15 October 2014 1:33 pm | By Tom Selby

Experts have branded Government plans to load new administration burdens onto pension savers in the wake of the Budget reforms “unworkable”.

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Govt considers freezing auto-enrol earnings trigger

15 October 2014 11:30 am | By Tom Selby

The Government is considering ditching the link between the automatic enrolment earnings trigger and income tax next year.

Comments (1)

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Govt cuts tax-free cash 'recycling' limit to £7,500

15 October 2014 10:41 am | By Tom Selby

The Government will further cut the amount of pensions tax-free cash that can be “recycled” following the Budget reforms under plans laid before parliament yesterday.

Comments (3)

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ABI: Focus on early cash withdrawals threatens pension reforms

14 October 2014 3:32 pm | By Sam Brodbeck

Guidance guarantee and FCA have ”virtually nil” chance of protecting savers from poor decisions.

Comments (1)

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Aegon warns of 'abuse' risk from new pension withdrawal option

14 October 2014 2:01 pm | By Sam Brodbeck

The new lump sum pension withdrawal option puts savers at risk of “abuse” by unscrupulous organisations, Aegon claims.

Comments (6)

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Just Retirement completes £75m de-risking deal

14 October 2014 9:42 am | By Sam Brodbeck

Buy-in is the insurer’s biggest bulk annuity transaction to date.

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Metlife hires new head of product for UK employee benefits

14 October 2014 9:17 am | By Samuel Dale

Elliott has previously worked for Just Retirement, Towers Watson, Swiss Re and M&G Re.

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Osborne to create new flexible pension withdrawal option

14 October 2014 8:48 am | By Tom Selby

Chancellor George Osborne will today confirm plans to create a new pension withdrawal option that allows savers to use their fund in a similar way to a bank account.

Comments (29)

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Mercer: Budget freedoms could damage UK pensions sustainability

13 October 2014 2:46 pm | By Sam Brodbeck

Auto-enrolment boosts UK’s score in global league table, but reforms likely to bring it down next year.

Comments (4)

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HSBC ordered to repay trail commission for lack of ongoing advice

13 October 2014 10:22 am | By Samuel Dale

Mr J said he was unable to get a review of his pension when he asked despite paying 0.5 per cent trail commission.

Comments (16)

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Labour demands more Treasury details on end of pensions 'death tax'

13 October 2014 10:19 am | By Samuel Dale

Chancellor George Osborne has come under fire for his “shambolic” handling of the abolition of the pensions death tax.

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NAPF and Pensions Management Institute consider merger

10 October 2014 3:13 pm | By Sam Brodbeck

Pension trade bodies plan to join forces to tackle “seismic shifts” in industry.

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