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CGU strikes £150m deal with RBS

CGU has struck a £150m deal with the Royal Bank of Scotland giving it a 50 per cent stake in the Edinburgh-based firm&#39s Royal Scottish Assurance life arm.


CGU takes up the joint venture as replacement for Scottish Widows, which is pulling out of the agreement following its takeover by Lloyds TSB.

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Barbara Castle slams meagre state pension

Former Secretary of State Barbara Castle has hit out at the basic state pension for being indexed to prices rather than earnings.The Serps architect calculates in 20 years the basic state pension will be worth only 7 per cent of average national earnings, leaving one in four pensioners dependent on means testing by 2050.

PASS on the move

The Pension Advisers Support System is moving to Sheffield.PASS, formed to offer advisers help on professional indemnity cover and the personal pensions review, can be contacted on 0870-9007277 ore via email helpdesk@pass-review.ltd.uk.

Taxman could flex new muscles

The Inland Revenue is set to get new powers that will force banks, accountants and lawyers to hand over papers in serious fraud cases.The new measures are to be included in next year&#39s finance bill.They are expected to reduce the need to enter and search premises for evidence.

Government may top up pensions for poor

The Government is proposing to subsidise lower earners with top up payments to ensure they remain within their occupational pension schemes.The move is detailed in proposals for the rebate structure under the State Second Pension and follows concern that many of the low paid earning less than £9,500 a year, would be better off opting […]

Brexit Commentary from Natixis Global Asset Management

By David F Lafferty, CFA, SVP – Chief Market Strategist Thursday’s historic Leave vote in the UK will have both immediate and long-term consequences for the global economy and financial markets. The initial flight-to-quality reaction across asset classes has been exacerbated by the market’s misplaced confidence in a Remain victory leading up to the vote. Stock markets […]

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