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Government to blame for A-Day problems says Defaqto

The Government is responsible for advisers and providers not being ready for A-Day according to 500 IFAs surveyed by Defaqto.

Research undertaken as part of The Pensions Report due to be published in October found that the majority of IFAs surveyed said that both advisers and providers were unable to adequately prepare for A-Day because the Government were still changing the rules in the weeks leading up to A-Day.

Defaqto says although advisers gave both positive and negative feedback on provider preparedness and support, the overwhelming feeling was that the Government was responsible for the confusion surrounding A-Day.

Head of pensions Matt Ward says: “The Government left both advisers and providers with no choice but to struggle through A-Day changes together as best they could. This was far from ideal, given that the industry is trying to build bridges with consumers. This episode will do little to enhance consumer trust in the financial services sector.”


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Leeds continues its rugby sponsorship

Leeds Building Society is continuing with its sponsorship of Leeds Tykes rugby club.The Guinness Premiership side says that now, in its sixth year with Leeds sponsorship it receives a commission for every supporter that opens an account with the society. It has been investing this money into youth development which it says is now starting […]

Camerons right-to-buy doomed says

Tory leader David Camerons proposal for a return of right-to-buy is doomed to failure, according to of mortgages Louise Cuming says some local authority properties are already very difficult to borrow against and the policy could create a glut of tenant-owners left with properties that are difficult to sell on.She says many local authority […]

Simple truth is that client is worse off

I am involved in dealing with a client who has two individual pension arrangements, one with Legal & General and one with Friends Provident, in respect of the same employment. One fund value is about 240,000 and the other is 150,000. The bigger fund value has the benefit of very attractive guaranteed annuity rates. If […]


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