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.
Almost two-thirds of asset managers are preparing for a hard Brexit, the Financial Times reports. Looking at fund houses that collectively manage $14tn (£12.2tn) of assets a survey found that 83 per cent have response plans for Brexit while 49 per cent have already put their plans into action. The survey, which comes from UK […]
The government is considering bringing in a “Care Isa” that would be exempt from inheritance tax as a way to combat the UK’s social care crisis. According to The Telegraph, the Treasury is considering proposals to include a new Care Isa in the social care green paper, which is expected to be published later this […]
Invesco Perpetual leads the latest edition of the infamous Spot the Dog report, which identifies underperforming equity funds, as the number of dogs hits a record high. In its bi-annual Spot the Dog report, Bestinvest names and shames funds that have underperformed their benchmarks for three consecutive years and by more than five per cent over […]