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50,000 life and pensions jobs at risk from Turner Report

Up to 50,000 jobs in the life and pensions sector are at risk from the Turner report’s recommendations says consultancy Deloitte and Touche.

According to its research the life and pensions industry could lose 30 per cent of its revenue as a result of the changes.

Deloitte also says the implementation of the National Pensions Saving Scheme could have a knock-on effect on the industry’s ability to offer other capital intensive savings products such as annuities.

ABI director of life and pensions Chris Kenney says: “These are proposals and no more. We know the government wants sustainable solutions and it seems to us that one aspect of this is a life and pensions industry that offers competitive choice. We are a long way from having people sent P45s in the post.”


Principality sharpens up mortgage range

Principality has relaunched its mortgage range with a two year fixed rate mortgage of 4.49 per cent.The two year fixed rate mortgage at 4.49 per cent, max LTV of 75 per cent, or 4.59 per cent, max LTV 95 per cent, offers free legal fees for remortgages. Alternatively, the fee saver products include a three […]

IFA Union says Lewis is shunning complaints

The IFA Defence Union says Treasury minister Ivan Lewis has ignored their complaints against the FSA despite having challenged the industry to come forward with grievances. In an interview with Money Marketing in September, Treasury Economic Secretary Lewis challenged the industry to come up with tangible grievances against the FSA rather than “general whinges”. IFADU […]


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