Advisers have backed Government proposals to abolish rules that prevent people aged 75 and over from claiming tax relief on pension contributions. Chancellor George Osborne announced plans to fundamentally redesign the UK private pensions system in his Budget speech earlier today. Under the proposals, anyone aged 55 or over will be able to take their […]
The FCA has warned the industry to move away from the “tick box” compliance culture created by its predecessor. Speaking at the FCA’s Canary Wharf offices last night, FCA director of supervision Clive Adamson said a significant challenge facing the industry is compliance is still focused on adherence to a strict set of rules, while […]
Many years from now, long after Iain Duncan Smith is departed from his ministerial labours, what will the world say about him? Will he be lauded as the person who – virtually single-handedly – managed to reform the UK’s welfare system and make working for a living worthwhile again for hundreds of thousands of people previously […]
The Government is extending the Freedom of Information rules to more private companies that carry out public functions. Speaking in the House of Commons today, justice minister Simon Hughes set out a radical extension of the transparency laws which could be rolled out as quickly as this year. The Freedom of Information Act forces some […]
According to the Pensions Regulator’s annual commentary and analysis report released this month, 785 potential non-compliance cases were referred for investigation, with 23 auto-enrolment compliance notices issued. And they predict that the use of their statutory powers is only going to increase.
In a world of pension freedoms, longevity risk falls on the individual. Clients must realise they will likely live longer than they think Mortality is not the nicest topic of conversation, but there is plenty of evidence that if clients do not have a realistic picture of how long they are likely to live, they […]
A judicial review about changes to the state pension age for millions of women born in the 1950s will take place from 5 to 6 June. The Department for Work and Pensions has confirmed that last November’s decision by the High Court to grant permission for a judicial review will go ahead in the summer. […]
The Pensions Regulator has called on financial advisers to stand behind the cold-calling ban by doing more to report potential scammers. In a blog post this morning, TPR frontline regulation director Nicola Parish calls on IFAs to show clients the FCA’s Scam Smart website to alert them to the warning signs of fraud, particularly when […]