Politics

Govt to face questions if cold-call ban not in place by June

The government has given reassurances a ban on cold calling will be in place by June. Yesterday, economic secretary to the treasury John Glen repeated the government’s intention to introduce a cold-call ban as soon as possible. During the third reading of the Financial Guidance and Claims Bill, Glen said Clause 9, introduced by the […]

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Lib Dems call for national campaign to fight ‘shocking’ pension scams

The Government must start a national information campaign to highlight the dangers of pension scammers according to MP Stephen Lloyd. The Liberal Democrat spokesman for works and pensions has issued the call on the back of research from Retirement Advantage which found around one in seven people over the age of 50 with a defined contribution […]

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New British Steel scheme gets green light

The new British Steel pension scheme has met the minimum size and initial funding tests to be created, according to trustee chairman Allan Johnston. Up to 83,000 members will go into the scheme which is part of the restructuring deal struck between the trustees and sponsor Tata Steel UK in August 2017. Assessments undertaken by […]

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UK pension liabilities increase to £7.6trn

The UK’s total pensions liabilities rose by just over £1trn in the five-year period from 2010 to 2015, according to figures published today by the Office for National Statistics. From 2010 to 2015 pension liabilities in nominal terms went from £6.6trn to £7.6trn and this includes state pensions, public sector pensions, company pensions and private […]

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Lib Dems join calls for contingent charging ban on DB transfers

The Liberal Democrats have called for contingent charging on pension transfers to be banned because it is “against the public interest”. Stephen Lloyd, the Liberal Democrat spokesman for work and pensions, argues it is impossible for advisers to give impartial advice when the adviser only gets paid if the consumer chooses to transfer out. This […]

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Pensions minister: New guidance body will not slash staff

Pensions minister Guy Opperman says most of the staff who work for the three separate public guidance bodies as it stands will end up at the single financial guidance body once it is established. In a letter published yesterday, Opperman gives more details about how the single body will be created from merging the Pensions Advisory […]

Mattioli Woods increases revenue by 17%

Mattioli Woods has seen revenue increase 17 per cent or £28.4m as business grew in several areas, according to interim results published today. Results for the six months ended 30 November 2017 show the national IFA and wealth manager expanded its employee benefits and personal wealth divisions alongside its self-invested personal pension and small self-administered scheme […]

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FTSE positive as Clinton tops Trump in debate

Hillary Clinton was the winner of the first presidential debate, according to global markets, with the FTSE regaining some of Monday’s losses in early trading. The FTSE 100 was up 0.5 per cent in early trading reaching 6,849, in contrast to yesterday when it fell 1.3 per cent partly due to market nerves about the first […]

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SNP targets ‘unfair’ pension charges

The Scottish National Party has warned that while it backs pension freedoms, it plans to identify and target “hidden” and “unfair” charges. In its election manifesto, published earlier today, the SNP says it backs the principle of giving pensioners more freedom over how to spend their retirement pot. However, the party warns: “We must ensure adequate […]

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UK economy ‘to grow 2.8% in 2015’

The UK economy will take uncertainty created by the general election “in its stride” and grow 2.8 per cent this year, the EY ITEM Club says. The consultancy’s spring forecast, which uses HM Treasury’s economic modeling, predicts gross domestic product will hit 2.8 per cent this year and 3 per cent in 2016. This is […]

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Tory ‘Right to Buy’ extension slammed by political rivals

Conservative plans to extend the Right to Buy programme to housing association tenants were slammed in last night’s BBC opposition leaders debate.  The Tories announced the plans ahead of their manifesto launch last week, promising that 1.3 million tenants could qualify for discounts of up to 35 per cent in seeking to buy housing association […]