Legal & General is writing more equity release business than individual annuities after lifetime mortgage sales reached over £200m in the first half of the year. In an update published this morning, the insurer says new business sales in its retirement division covering lifetime mortgages, individual annuities and bulk annuities hit £4bn in total between […]
Old Mutual Wealth has moved to cap pension exit penalties ahead of the FCA’s March 2017 deadline. In May the regulator announced providers would have to cap exit penalties on pension policies at 1 per cent for customers attempting to use the pension freedoms. As recently as March the provider said it would apply a […]
Quoting the famous adage, prevention is better than cure; there are many proactive benefits that can improve wellness in the workplace, decrease stress, increase staff morale and reduce absenteeism, as well as attracting and retaining employees of a higher standard. With a recent study showing that employees in Britain are working below peak productivity, preventative benefits can ensure you address potential health issues or causes of stress at their source and ensure productivity in the workplace remains at an optimum level. With this in mind, how are you using preventative benefits to help keep your workforce happy and healthy?
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An undercover investigation has revealed some advisers from St James’s Place are not disclosing their charges clearly or stating they are restricted. In an investigation by consumer champion Which?, undercover researchers saw 12 SJP advisers over a two-week period in May. The researchers were seeking independent advice on investing £100,000 and all were offered free […]
Former work and pensions secretary Iain Duncan Smith has called on the Government to stop “punishing” landlords and rethink its stamp duty and mortgage interest relief reforms. Since April, landlords have not been able to claim tax relief on mortgage interest payments, and by 2020 they will only be able to claim tax credit at […]
Providers will have to submit data on pension transfers, the rate of withdrawal from drawdown, number of annuities sold and use of advice and Pension Wise