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Ukip rejects Farage’s resignation

Nigel Farage will remain the leader of Ukip after the party rejected his resignation. Farage announced he would step down on Friday after failing to win the seat of South Thanet, as he had promised in the run up to the general election. But Ukip’s national executive committee has “unanimously” rejected his resignation, saying the […]

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Pension savers stung by year one fees

People saving into personal pensions are being hit by charges of over 2 per cent in their first year of investing, research reveals. Analysis conducted by ComPeer and commissioned by Nutmeg shows schemes run by wealth managers can charge up to £2,220 on a £100,000 pot over the first year of investing. Investec Weath & […]

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FCA fines Merrill Lynch International £13m over transaction reporting

The FCA has fined Merrill Lynch International £13.3m for transaction reporting failures. The regulator says MLI incorrectly reported over 35 million transactions, and failed to report a further 121,387 transactions between November 2007 and November 2014. The fine is the highest ever imposed by the regulator for transaction reporting failures. The FCA says the size […]

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Think-tank: UK market still well suited to annuities despite pension freedoms

Despite the pension reforms the UK market remains well suited to annuitisation, influential think-tank the Pensions Policy Institute says. In a report, sponsored by the Investment Association and The People’s Pension, the PPI compares the UK system with Australia, Ireland, New Zealand and the US. It says that despite the new freedoms – which allow […]

Lifetime ISAs – International Evidence

By Fiona Tait, Pensions Specialist Since the announcement in March, the Lifetime ISA (LISA) has attracted controversy. Heralded as a saviour for the self-employed and the young wanting to get on the housing ladder, the new LISA risks adding confusion for savers trying to fully understand the benefits of new workplace pension savings through auto-enrolment. To […]

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