View more on these topics

ABI talks with Government over DB ban

The Association of British Insurers says it is in talks with the Government to clarify why it is proposing a ban on the majority of transfers from defined-benefit to defined-contribution pension schemes from April 2012.

Earlier this month, Money Marketing revealed that the Government is to stop the bulk of people from transferring out of final-salary pensions.

The plans are outlined in a consultation detailing the draft legislation for the abolition of contracting out. Some pre-1997 benefits, called excess benefits, will be exempt from the change as well as non-contracted-out defined-benefit schemes.

The Department for Work and Pensions proposal came under fire from both advisers and providers.

An ABI spokeswoman says: “We want to ascertain if this is an unintended consequence of the abolition of contracting out. The DWP’s consultation on contracting out is in its early weeks and we will respond in time for the October 19 deadline.”


Savills reports improved first half profits

Savills has reported a £14.4m pre-tax profit for the first six months of 2010, up from the £0.1m pre-tax profit registered for the first half of last year. Group revenue increased 23 per cent to £304.4m in the first six months of the year from £247.6m in 2009. Underlying group profit before tax grew to £17.2m […]

Cazenove predicts inflation to moderate next year

Inflation could moderate further than expected next year, allowing the Monetary Policy Committee to remain in accommodative mode for the forseeable future, according to Cazenove. Richard Jeffrey, the head of strategy and economics at Cazenove Capital Management, says several pressure points have caused inflation to be higher than the MPC expected.

 Transport costs have risen […]


FSA fines SocGen £1.57m

The FSA has fined the London branch of Société Générale £1.57m for failing to provide it with accurate transaction reports. The regulator says the fine reflects the seriousness of SocGen’s failure to submit accurate reports for approximately 80 per cent of its reportable transactions, across all of its asset classes, for a period of over […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm