The FCA has told advisers to make clients aware of their right to refer complaints to the The Pensions Ombudsman, not just the Financial Ombudsman Service. Currently, advisers must notify clients that they can complain to the FOS if they believe they have been miss-sold, but are not required to signpost TPO. While complaints over […]
The Liberal Democrats have called on the Government to provide the public with more information about auto-enrolment in the wake of imminent contribution rate rise. From April this year, employees must contribute a minimum of 3 per cent of their salary, increasing to 5 per cent from next April. While currently only around 10 per […]
Legal & General Home Finance is set to diversify beyond offering lifetime mortgages this year, according to managing director Steve Ellis. The L&G arm has only handled lifetime mortgages since the firm entered the market by buying Newlife Home Finance in 2015. Ellis says: “This year we will be broadening out into products that are […]
St. James’s Place spent nearly £22m continuing to upgrade its platform technology in 2017, annual results released today show. Two-thirds of gross inflows are now being put on the new Bluedoor platform, the firm says, but having transferred over Isa and unit trust business in 2015, a full replatforming will not complete until 2019. By […]
According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20 per cent of total wages, the statutory minimum for a […]
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