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Ombudsman backs L&G and Scottish Widows in pension scam complaint

The Pensions Ombudsman has thrown out two complaints made against providers who allowed a member to transfer to a suspected liberation scheme. Joseph Winning filed complaints against Legal & General and Scottish Widows after the firms completed his request to transfer around £50,000 to the Capita Oak Pension Scheme. Winning says the providers failed to […]

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Altmann turned down pensions minister job

Ros Altmann was offered the role of pensions minister by the Conservatives but turned it down, Money Marketing can reveal. Instead, Altmann will be made a peer and appointed minister responsible for financial consumer protection and education. Former pensions minister and LibDem Steve Webb lost his seat in today’s general election, leaving the Conservatives without […]

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Barclays sets aside extra £800m over forex probes

Barclays has set aside a further £800m to cover the cost of investigations into foreign exchange manipulation, taking its total forex provision to almost £2.1bn. In its interim results, published today, Barclays made a statutory pre-tax profit of £1.34bn for the first three months of the year, a fall of 26 per cent from £1.8bn […]

What exactly is product innovation?

By Fiona Tait, Pensions Specialist Ros Altmann reportedly hoped for more product innovation following pension freedom¹ and, according to one poll, 66 per cent of advisers also believe that providers should be doing more². This article considers whether there is a real client need for new products, or whether we should be focusing our attention on efficient delivery […]

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