Politics

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Govt: Millions will benefit from greater transparency on fees

The Government has published guidance compelling occupational defined contribution pension schemes to publish information about the fees they charge more than 10 million savers across Britain. The document for trustees and managers relates to the Occupational Pension Schemes (Administration and Disclosure) (Amendment) Regulations 2018. The DWP says the plans, initially announced in the autumn last year, […]

Govt paves way for Lloyds share sale as it banks £130m dividend

The Government has announced shares in Lloyds Banking Group could be made available to the public by next March. Chancellor George Osborne announced in January  the proposed discount share sale of Lloyds would be delayed amid market turbulence. But in a statement released yesterday, Treasury economic secretary Harriett Baldwin says the Government is still committed to […]

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EU calls emergency summit as Greek debt deadline looms

Eurozone leaders are to hold an emergency summit on Monday after the latest meeting failed to reach a deal to solve Greek debt crisis. The BBC reports that head of the Eurogroup, Jeroen Dijsselbloem, said “too little” progress had been made for the Greek debt negotiations and that “no agreement as yet is in sight”. He […]

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Juncker accuses Greece of ‘misleading’ voters over bailout talks

European Commission president Jean-Claude Juncker has accused the Greek government of misleading its voters over bailout proposals as Greek prime minister Alexis Tsipras claimed creditors were trying to humiliate Greece. The BBC reports Juncker said the situation would be made easier if Greece’s government was to accurately represent the terms of proposals as this could undermine negotiations over new […]

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Greek PM set for talks over latest EU bailout deal

Greek Prime Minister Alexis Tsipras is heading to Brussels to discuss new proposals for a deal with creditors as Athens attempts to unlock the much-needed remaining €7.5bn (£5.4bn) expected EU bailout, according to reports. Tsipras has said he has new reform proposals for the troubled country that would involve “painful concessions”. After meeting in Berlin on Tuesday with […]

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Election 2015: What are the key manifesto pledges affecting advisers?

With the general election now only weeks away, Money Marketing assesses the manifesto pledges affecting advisers and their clients. Tax While cracking down on tax evasion and aggressive avoidance has proved popular territory for all the major parties, several are also seeking to ameliorate the tax loads of voters. The Conservatives have promised to raise […]

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Advisers back Tories as election looms

A poll of more than 1,200 Money Marketing readers has found overwhelming support for the Conservaties, with distant rivals being Ukip. Some 52 per cent of those polled said they would vote Conservative, while 15.5 per cent pledged their backing to Nigel Farage’s party. The figures represent a marked contrast to national polls where the Conservatives […]

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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 […]

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Should savers be given free advice ‘voucher’ at retirement?

Ukip has been accused of “mollycoddling” retirees after proposing to offer a guarantee of free financial advice to protect savers following the introduction of pension freedoms. Nigel Farage’s party unveiled the plans last week as part of their manifesto launch. One idea being considered would see retirees given a “voucher” to spend on advice. The […]

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Major parties accused of using ‘made up’ tax avoidance figures

Labour, Conservative and Liberal Democrat politicians are using “made up assumptions” of increased revenue generated by targeting tax evasion and avoidance, according to the Institute for Fiscal Studies. Tackling tax evasion and avoidance has proved a huge part of this year’s election campaign since HSBC was found to be aiding clients of its Swiss private […]

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Labour election win could block cash for annuity plan

Pensioners who want to swap their annuities for cash or drawdown under the Coalition’s plan could find a Labour government blocking their plans, Money Marketing understands. Chancellor George Osborne launched a consultation on creating a secondary annuity market as part of his March Budget, and claimed the reform would allow around five million people to […]