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Govt urged to clarify how charge cap applies to complex legacy schemes

24 April 2014 3:00 pm | By Tom Selby

Experts say it is unclear how 0.75 per cent auto-enrolment fee cap will apply to complex charging structures.


Labour looks to cut ties with Co-op Bank

24 April 2014 8:37 am | By Tessa Norman

Labour Party seeking to move banking facilities elsewhere.


‘Full advice or nothing’: Lighthouse boss hits out at Budget guidance

24 April 2014 8:16 am | By Michael Glenister

Lighthouse chief executive Malcolm Streatfield has criticised Government plans to provide free at-retirement guidance for all.

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Webb calls for flat 30% pensions tax relief

24 April 2014 | By Natalie Holt

Pensions minister says pension tax relief should be spread ”much more evenly”.


MPC voted unanimously to maintain base rate

23 April 2014 11:53 am | By Devraj Ray

Minutes from the committee’s April meeting show all members voted to maintain base rate and quantitative easing.


Vince Cable warns FTSE firms over 'ridiculous' pay awards

23 April 2014 8:40 am | By Gary Jackson

Business secretary Vince Cable has written to the chairmen of FTSE 100 companies’ remuneration committees to issue a warning that the Government will intervene unless they do more to curb executives’ soaring pay increases.

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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.

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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.


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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Co-op Bank posts £1.3bn loss and reveals widespread mortgage failings

17 April 2014 | By Natalie Holt, Samuel Dale

Bank has to raise £400m after it found a number of redress and misselling issues following a past business review.


Osborne tax crackdown set to face MP scrutiny

17 April 2014 | By Michael Glenister

Treasury select committee to collect evidence on whether plans to clamp down on tax avoidance affect civil liberties.


Ex-Co-op Bank chair Paul Flowers charged with drug offences

16 April 2014 12:18 pm | By Samuel Dale

Reverend Paul Flowers left the Co-op Bank in June.


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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Earnings outpace inflation as unemployment falls below 7%

16 April 2014 10:49 am | By Gary Jackson

The UK’s unemployment rate dropped below the 7 per cent mark in the three months to the end of February, while average earnings started to rise faster than the pace of inflation.


Barclays replaces remuneration chief after bonus pool fallout

15 April 2014 9:01 am | By Devraj Ray

Sir John Sunderland is to be replaced by Crawford Gillies.


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.

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Osborne tax avoidance crackdown set to face MP scrutiny

14 April 2014 9:01 am | By Michael Glenister

Treasury select committee to collect evidence on whether plans to clamp down on tax avoidance affect civil liberties.

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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.

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Co-op Bank posts £1.3bn loss; reveals £411m redress driven by mortgage failings

11 April 2014 8:56 am | By Natalie Holt

Bank has to raise £400m after it found a number of redress and misselling issues following a past business review.


RBS agrees Govt deal to resume dividends

10 April 2014 11:07 am | By Tessa Norman

Bank has also secured an extension until 2016 to launch the Williams & Glyn’s business formed from the sale of 316 branches.


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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Co-op woes continue as Lord Myners quits

10 April 2014 8:55 am | By Devraj Ray

Former Labour financial services secretary was asked in December to conduct a review of the group.

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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.


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.

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Otto Thoreson

ABI denies 'agenda' as FCA sets out scope of closed book inquiry

10 April 2014 | By Samuel Dale, Tessa Norman

Otto Thoresen says lessons need to be learned from the way the regulator announced its closed book review.

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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.


Sajid Javid promoted to Culture Secretary in Treasury shake-up

9 April 2014 11:09 am | By Samuel Dale

Sajid Javid joins the Cabinet as Culture Secretary after Maria Miller’s resignation.


Independent Scotland faces immediate £23bn debt to UK

9 April 2014 10:03 am | By Devraj Ray

Think tank calculations show an independent Scotland would be required to pay back £23bn to the UK Treasury in the first year.

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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”.

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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.

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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”.

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Otto Thoreson

ABI says there's 'no agenda' to weaken FCA over closed book blunder

8 April 2014 1:19 pm | By Samuel Dale

ABI director-general Otto Thoreson denies insurers are seeking to put pressure of the FCA over closed book blunder.

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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.

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Barclays avoids court with settlement over swaps misselling

8 April 2014 8:41 am | By Devraj Ray

Bank has agreed to restructure £70m owed by Graiseley Properties over a mis-sold interest rate swap.


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.


UK recovery too reliant on consumer spending, BCC warns

8 April 2014 8:33 am | By Gary Jackson

The UK economy is continuing to grow at a decent pace, according to British Chambers of Commerce forecasts, but the recovery needs to become more balanced if it is to be sustainable.


Co-op Bank yet to claw back bosses' bonuses

7 April 2014 8:49 am | By Devraj Ray

Bank is expected to announce a £1.3bn loss in its annual report this week.

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FCA ignored Bank warnings on closed book probe

7 April 2014 8:42 am | By Natalie Holt

PRA chief executive Andrew Bailey is said to have called Martin Wheatley repeatedly on the day the regulator’s closed book review was reported.

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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.


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.

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