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Tapered annual allowance tops client concerns list

The tapered annual allowance is one of the top concerns for clients who come to advisers, according to Prudential research. Last week Money Marketing reported the number of people declaring annual allowance breaches more than doubled in the 2016/17 financial year when the tapered annual allowance was introduced. Now a survey of 700 advisers conducted […]

Aegon: FCA should give IFAs rules for CDC transfer advice

The FCA should set out how it expects IFAs to handle transfers in collective defined contribution schemes before they are established, Aegon says. In its response to the government’s consultation on CDCs that ends tomorrow, the provider lays out the potential difficulties these schemes pose for IFAs. CDC pensions – which are not yet available […]

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Nic Cicutti: Banks should scrap free services

Competition on overdraft charges alone will not do the trick. Banks should charge us for each service Has anyone ever queried how much it actually costs to run a bank account? I asked myself that question a few weeks ago, after receiving an annual letter from my bank detailing how much I had paid that […]

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FOS funding must change as PPI claims fall

The way the Financial Ombudsman Service is funded will need to change as its PPI case load diminishes says FCA chairman Charles Randell (pictured). MPs on the Treasury select committee asked senior regulators at the watchdog whether the current funding model of the ombudsman is sustainable. In response to the question Randell said: “FOS has […]

brexit

Investor confidence upswing ahead of Brexit vote

Investor confidence has “swung wildly” in recent months hitting a high today ahead of tonight’s Brexit vote, data from Hargreaves Lansdown shows. The HL Investor Confidence Index has jumped to 67 points for January, up from 52 points in December. The index measures the confidence of retail investors in the UK stock market. MPs will […]

Govt unveils restrictions to pension credit for couples

The Department for Work and Pensions has announced it will limit access to pension credits for couples from May this year. The change was set out in a statement by pensions minister Guy Opperman yesterday. It will restrict pension credits for couples where both are not over state pension age which is currently 65 for […]