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Industry warns on ‘guidance’ definition post-Budget

The FCA will need to establish a regulatory definition of guidance services in the wake of the Budget, according to EY. Chancellor George Osborne stunned the pensions industry in the Budget last month when he announced people would be able to take their entire pension pot as cash from age 55 from next April. Alongside […]

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LV profits up 51 per cent as its eyes possible acquisitions

LV= increased pre-tax profits by 51 per cent in 2013, up to £156m from £103m in 2012. The insurer saw overall customer numbers increase from 5.2m in 2012 to 5.5m, driven primarily by a 273,000 increase in general insurance customers. Group operating profits increased 19 per cent from £88m to £105m. Its mutual bonus increased marginally […]

Industry under fire over pension freedoms

By Jamie Clark, Business Development Manager, Royal London Recent articles in the media have raised concerns about the new pension freedoms. One perceived problem is that across the industry, trustees and providers are not necessarily allowing people to take full advantage of the pension freedoms in situ. This is backed up by a recent survey by […]

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