House prices continued to flourish in January, increasing by 2.2 per cent compared with 2 per cent in December, according to Halifax's monthly house price index. The average house cost was £145,610 in January compared with £142,408 in Dec-ember while the average price paid by a first-time buyer passed £100,000 for the first time at […]
Pensions minister Andrew Smith has presented the Pensions Bill to the House of Commons. The bill, which aims to strengthen the rights of individuals with benefits in final salary schemes, will be published tomorrow morning. It is also expected to set out the structure of the pension protection fund.
Scottish National Party MP Alex Salmond has challenged the Treasury over its financial reserve requirements for mutual companies. Salmond raised fears over the future of demutualised life companies in a debate at Westminster Hall in London last week. He is concerned that Standard's mutuality review could see the company taken over by a rival, similar […]
Winterthur Life is offering a new tool it says will help IFAs maximise their clients' chances of achieving their financial goals. The portfolio balancer, an online portfolio planning and asset allocation program, includes a simulator which helps advisers work out the statistical probability of achieving their clients' goals through stochastic modelling techniques, target asset allocations […]
As more and more employers reach their auto-enrolment staging date, thousands of HR, pensions and finance professionals have been tasked with navigating the minefield of ongoing scheme governance and auditing with little support.
Some investors holding money with Blackmore Bonds are yet to receive July interest payments, despite the firm’s insistence all funds have been transferred and cleared. One such investor has told Money Marketing they have been “ignored” by Blackmore. Chief executive of the mini-bond provider Patrick McCreesh told Money Marketing this week that some investors holding Isas […]
Rebates have been confirmed as taxable this month, in the long-running clash between Hargreaves Lansdown and HMRC. This effectively confirms “superclean” share classes are the most tax-efficient mechanism for delivering preferential rates on funds, rather than the oxymoronic “clean with rebates”. Asset managers will be very reluctant to implement multiple share classes at varying prices […]
Collapsed Sipp administrator GPC Sipp has nearly £1m in debts owed to creditors according to a statement of affairs document published on Companies House. It shows there is a shortfall of £964,832.00 owed to creditors and most of the Sipp shares are owned by managing director Kathryn Taylor who holds 73 shares. The others are […]