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Treasury U-turns over 'unworkable' Budget reporting demands

24 November 2014 6:51 pm | By Samuel Dale

Treasury U-turns on savers’ reporting requirements after just one month.


Employers could be forced to pay for DB transfer advice

24 November 2014 11:23 am | By Samuel Dale

New rules could act as disincentive for employers encouraging employees to transfer out of DB.

Comments (1)


Labour eyes drawdown charge cap

24 November 2014 11:21 am | By Sam Brodbeck

Pensions experts have branded the idea “virtually impossible” to implement.

Comments (2)


Labour wants £1bn FCA forex fines to go to NHS

24 November 2014 10:21 am | By Samuel Dale

Earlier this month the FCA made its largest ever fines totalling £1.1bn for forex manipulation.

Comments (7)


Why have internal annuity sales not fallen since the Budget?

21 November 2014 4:50 pm | By Tom Selby

The ABI says while external annuity sales have fallen as a result of the Budget, internal annuity sales remain at similar levels.

Comments (2)


Spending watchdog hammers Treasury for losing track of tax relief

21 November 2014 2:07 pm | By Samuel Dale

National Audit Office says the Treasury and HMRC are not monitoring the effectiveness of tax reliefs.

Pensions-savings-retirement-piggy bank

Dunstan Thomas to offer new pension withdrawal option from January

21 November 2014 11:27 am | By Tom Selby

Retirement software firm Dunstan Thomas has created a new system that allows pension providers to offer savers uncrystallised funds pension lump sum withdrawals.


Royals hire RBS director as communications chief

21 November 2014 11:09 am | By Samuel Dale

RBS has suffered more than £1bn worth of fines since Jason Knauf joined in April 2010.


Aviva: Drawdown 'unlikely to be appropriate' for pots below £30K

21 November 2014 9:49 am | By Samuel Dale

Aviva’s comments follow FCA evidence to parliament that drawdown pots below £50,000 are likely to be unsuitable.

Comments (6)


Govt waters down HMRC bank account raid powers

21 November 2014 8:43 am | By Sam Macdonald

Chancellor George Osborne has weakened HM Revenue & Customs powers to raid bank accounts for unpaid taxes following an outcry from MPs, banks and charities.

Comments (1)

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Tug of war: FCA clashes with Treasury over sub-£50K drawdown concerns

21 November 2014 8:30 am | By Samuel Dale

FCA head of investment David Geale says drawdown is “unlikely to be suitable” for pots under £50,000.

Comments (24)

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ABI unleashed: Trade body slams lower pensions charge cap as L&G exits

21 November 2014 8:30 am | By Samuel Dale

ABI lashes out at the “very late” DWP actions on auto-enrolment charges.

Comments (2)


UK abandons challenge on EU bonus cap

21 November 2014 8:28 am | By Tessa Norman

Challenge was dealt a major blow yesterday by the European Court of Justice. 


FCA chief operating officer quits to become TPR chief exec

20 November 2014 4:29 pm | By Samuel Dale

Lesley Titcomb was instrumental in driving through the mortgage market review.

Comments (3)


Advisers back Consumer Panel warning over 'nightmare' non-advised drawdown

20 November 2014 1:00 pm | By Samuel Dale

The Consumer Panel raised the alarm over non-advised drawdown in parliament last week.

Comments (6)


Industry blasts 'unfair' pension death tax reforms

20 November 2014 12:00 pm | By Tom Selby

Savers who have already started drawing down an inherited pension will not be able to benefit from Chancellor George Osborne’s ‘death tax’ reforms.


UK suffers blow to challenge on EU bonus cap

20 November 2014 11:20 am | By Tessa Norman

EU Court of Justice advocate general has rejected UK legal challenge. 


Experts: Treasury warning won't deter pensions recycling

20 November 2014 | By Samuel Dale

Treasury financial secretary David Gauke says Government will take “further action” if losses mount


Clamour grows for DWP to lower auto-enrol earnings trigger

19 November 2014 3:49 pm | By Samuel Dale

Industry unites with employees to demand change in Government consultation.

Comments (5)


Treasury responds to concerns over 'harsh' Budget pension fines

19 November 2014 3:41 pm | By Tom Selby

Treasury hints at rethink over much-maligned Budget reporting system.

Comments (1)


MPC holds base rate due to continuing eurozone concerns

19 November 2014 11:56 am | By Sam Macdonald

The minutes show that yet again seven out of nine MPC members voted against raising the base rate.


S&P warns of fresh recession over ECB monetary stimulus

19 November 2014 8:58 am | By Sam Macdonald

S&P warns the ECB buyback scheme cannot generate more than €40bn of net stimulus once old loans are paid back.

David Gauke MP

Treasury dismisses Steve Webb plan to 'unwind' annuities

19 November 2014 8:39 am | By Samuel Dale

Conservatives and Lib Dems clash over unwinding existing annuity contracts.

Comments (16)


Labour moves to tackle self-employed access to mortgages and pensions

19 November 2014 8:37 am | By Samuel Dale

Self-employed people are pulling out of pension saving and struggle to get mortgages.

Comments (5)

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Otto Thoresen quits ABI to become Nest chairman

18 November 2014 10:00 am | By Samuel Dale

ABI deputy director-general Huw Evans will succeed Otto Thoresen at the trade body.

Comments (1)


MPs slam HMRC for ‘slow’ tax avoidance action

18 November 2014 8:34 am | By Tessa Norman

Public Accounts Committee says action against tax avoiders “unacceptable”. 

Comments (3)


Steve Webb set for radio 'soapbox' tour as Govt scrambles to boost Budget awareness

17 November 2014 9:57 am | By Tom Selby

Pensions minister Steve Webb will this week begin a radio “soapbox” tour as the Government attempts to raise awareness of its radical reform programme.

Comments (2)


BoE's Carney eyes new banker pay powers

17 November 2014 8:43 am | By Sam Macdonald

BoE is concerned as following financial sector reforms restricting bonus payments, banks have raised the fixed level of pay given to staff.


Teachers Building Society pulls out of Scotland

14 November 2014 1:38 pm | By Devraj Ray

Mutual says it will continue to process pipeline cases, while existing customers may still apply for a further advance until further notice.


Labour pledges 'tough' penalties for tax avoidance

14 November 2014 8:35 am | By Natalie Holt

Party wants to impose fines of up to 100 per cent of the value of tax avoided.

Comments (3)

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Deal breaker: Pressure builds over pensions tax relief after Budget bombshell

14 November 2014 8:30 am | By Samuel Dale

Pressure for tax relief reform is building as new freedoms spark fresh debate.

Comments (17)

Cathy Jamieson MP

Labour calls for review of pension freedoms next year

13 November 2014 3:16 pm | By Samuel Dale

Labour wants the use of salary sacrifice to avoid tax to be examined.

Comments (15)


FCA: Drawdown 'unlikely to be suitable' for pots under £50K

13 November 2014 8:40 am | By Samuel Dale

FCA head of investment David Geale says he expects the drawdown market to see lower charges.

Comments (23)

Out of context - Horses

Out of context: 'I thought they were talking about horses'

13 November 2014

“I attended a meeting recently where the guidance guarantee was referred to as the ‘GG’. I thought they were talking about horses.”


Revealed: Savers face two week wait to access pension freedoms

12 November 2014 4:36 pm | By Samuel Dale

Providers hit out at suggestion the new freedoms will turn pension funds into bank accounts.

Comments (7)


Has Carney closed the door on early-2015 base rate hike?

12 November 2014 4:07 pm | By Tom Selby

The Bank’s latest inflation report, published this morning, suggests Consumer Prices Index inflation is likely to fall below 1 per cent.

Comments (1)

David Gauke MP

Do Budget reforms leave Govt open to pension misselling claims?

12 November 2014 1:21 pm | By Samuel Dale

Labour MPs raises concerns about taxpayers paying out future compensation.

Comments (3)

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Consumer Panel raises alarm over non-advised drawdown sales

12 November 2014 11:58 am | By Samuel Dale

Consumer Panel turns its focus on to drawdown after hitting out at non-advised annuities.

Comments (14)


Unemployment falls to 6% as wages outstrip inflation

12 November 2014 11:41 am | By Samuel Dale

Wages outstrip inflation with 1.3 per cent growth year-on-year.

Comments (3)


BoE: Inflation to fall below 1%

12 November 2014 11:39 am | By Tom Selby

The Bank of England has warned inflation is likely to dip below 1 per cent in the next six months as UK wage growth remains weak.

Comments (1)

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