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Almost two thirds of pension schemes think the Government’s guidance guarantee will not provide savers with enough support, according to a survey by Mercer. In March’s Budget, Chancellor George Osborne announced that savers would be able to take their entire pension pot as cash once they reach 55. Alongside this he pledged that everyone would […]
Royal London has scrapped its single-tie annuity referral deal with the Prudential and introduced an open-architecture web portal allowing retirees to shop around with ten different providers. Money Marketing revealed last week that Royal London was reviewing its commercial tie-up with the Pru in the wake of this year’s Budget. Royal London has not removed commission, however, […]
Johnson Fleming has launched its new managed auto-enrolment service, designed to support SME businesses of up to 250 employees. The managed auto-enrolment service is not just about providing businesses with a software system for them to manage themselves, but more about outsourcing the administration of the project and scheme to Johnson Fleming’s auto-enrolment staff.
For the past few weeks I have been considering how the proposed new rules for applying inheritance tax to relevant property trusts (broadly discretionary and flexible trusts) would apply, first to trusts created on or after 7 June, and then before that date. I am going to continue with the consideration of the latter category. I […]
This week’s Budget looked as if it would be a difficult one for the Chancellor, with disappointing economic numbers and the need to avoid ruffling feathers ahead of June’s in/out referendum. Nevertheless, Mr Osborne did spring a few surprises, including some tax reductions. So how does this budget affect you? If you are – or […]
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Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]
Building on auto-enrolment’s success and fine tuning the pensions dashboard are high on the list As I write my first Money Marketing column of the year, it has given me an opportunity to look back on what the Government has done to transform pensions and savings for people since 2010. Five years on from the […]