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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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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