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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.

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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)

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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)

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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)

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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)

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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.

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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.

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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.

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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)

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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)

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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. 

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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)

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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.

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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.

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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. 

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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

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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)

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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)

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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.

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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.

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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.

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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)

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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)

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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)

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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.

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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.

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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.

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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)

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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)

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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.”

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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)

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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)

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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)

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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)

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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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