A debate has been conducted over the past few months in the protection industry. It was brought to a head at the recent Signposts For Income Protection meeting when Nick Kirwan and Alan Tyler of the Income Protection Task Force presented the work they had done on trying to ascertain who could safely buy income protection […]
Scottish Widows has increased its cooling off period for annuity purchases to 60 days following the Budget pensions shake-up. The changes revealed by Osborne on Wednesday will allow people to take their entire pension pot as cash from age 55 from April next year. Any Scottish Widows annuity quotations issued since 18 February will now be valid […]
The Institute of Fiscal Studies says annuities will become even more expensive with more poor choices after the Government announced reforms to retirement income. In the Budget yesterday the Chancellor said all over-55s can take their pension pot in cash from next April and do not need to buy an annuity. Insurers’ share prices dropped […]
With three jokes, brightly coloured ties, help for scouts, girl guides and Bingo and one of the biggest pension changes in recent years, this was one of my favourite Budgets. From April 2015, pensions income can be taken from defined contribution pension schemes as the policy holder wishes after the age of 55. Annuity purchase […]
A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits. By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.
Invesco has sealed a deal to acquire OppenheimerFunds as the firrm looks to break into the top 10 global investment managers. The deal will see OppenheimerFunds parent Massachusetts Mutual Life Insurance Company sell the asset manager to Invesco, with MassMutual taking a 15.5 per cent stake in Invesco in return. Invesco will manage $1.2trn (£920bn) […]
Advice firm consolidator Newell Palmer has acquired midlands IFA Sense Wealth Management in a deal adding another £35m to its funds under management. The purchase is the 51st acquisition made by Newell Palmer since it began trading in 1993. The £35m is split between around 100 active clients from Sense, who will all transfer over […]
Three directors have been named to the board of the newly-launched Single Financial Guidance Body. The Department for Work and Pensions has appointed former National Employment Savings Trust chief executive Tim Jones and Royal Bank of Scotland director for products Moray McDonald as non-executive directors. University of Bristol emeritus professor Elaine Kempson will also join the board. […]