Consumer price index inflation fell to its lowest level in five years in September. CPI annual inflation was 1.1 per cent last month, down from 1.6 per cent in August, according to the Office for National Statistics.
Friends Provident head of protection Mark Jones has resigned to join LV=. MoneyMarketing.co.uk revealed that Jones resigned from Friends last week and is to take up the role of head of protection at LV= although the provider could not confirm a start date. A spokeswoman says: “Mark is on gardening leave with immediate effect. We […]
The plight of many older advisers worried about taking the mandatory examinations required by the retail distribution review is being conven-iently ignored by the FSA. This week, Money Marketing hears from three advisers with 90 years of combined experience who want to remain in the industry and continue to serve their long-standing clients post-2012. Many […]
The FSA has banned East London mortgage broker Ayodele Olubunmi Thomas for knowingly submitting false and misleading information about his income to obtain mortgages and loan advances.
Advisers need to take a range of measures to ensure investments continue to be suitable for their clients
Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.
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Scotland has introduced a new set of income tax bands, but pensions experts warn that the changes could cause issues with pension tax relief calculations. In the Scottish Budget today, the Government announced a new starter rate of 19p and then a 21p rate for those earning over £24,000. The higher rate of tax is […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
The FCA working group tasked with setting a template for fund charge disclosure is considering whether one or multiple templates would be more suitable. The institutional disclosure working group, chaired by transparency champion Chris Sier, has been tasked with creating a new template for fund costs and charges following the package of remedies outlined in […]