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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.

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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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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.

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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.

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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.

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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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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.

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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.

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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.

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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.

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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.

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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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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.

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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.

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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.

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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.

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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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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.

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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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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.

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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.

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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.

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Consumer panel: Budget guidance could push down MAS marketing spend

4 April 2014 12:00 pm | By Tessa Norman

MAS would not need to spend millions on advertising if it provided guidance service, says Consumer Panel chair. 

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Osborne dismisses concerns over advice/guidance distinction

3 April 2014 12:49 pm | By Samuel Dale

Chancellor George Osborne said there is no problem with branding his at-retirement gudiance service “advice”.

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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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Osborne expects death charge on pension funds to be cut

3 April 2014 10:35 am | By Samuel Dale

Chancellor George Osborne says the 55 per cent rate could be too high for the new pensions regime.

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RBS to close a further 44 branches

3 April 2014 8:44 am | By Paul Thomas

Bank says affected branches had limitd opening hours and classed as “last bank in town”.

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