The Skandia platform and all UK operations have rebranded to Old Mutual Wealth with effect from today Skandia, which launched in the UK in 1979, was acquired by Old Mutual in 2006. Old Mutual Wealth includes the 3000-strong adviser network Intrinsic, which was acquired in February, the platform business, and its asset management arm Old […]
Bank has set aside £856m for litigation and conduct issues.
Lloyds Banking Group has reported an 11 per cent fall in pre-tax profit for the first quarter of the year, after making a £660m loss on the sale of TSB. The bank’s Q1 results, published today, show it made a £1.2bn profit in the first three months of the year, down from £1.4bn in the […]
Pensioners who want to swap their annuities for cash or drawdown under the Coalition’s plan could find a Labour government blocking their plans, Money Marketing understands. Chancellor George Osborne launched a consultation on creating a secondary annuity market as part of his March Budget, and claimed the reform would allow around five million people to […]
Jacqueline Clezy Technical Specialist Pensions at Prudential The Government announced their intention for the Money Purchase Annual Allowance (MPAA) to reduce to £4,000 from 6 April 2017, in their final spring Budget on 8 March 2017. Finance (No.2) Bill 2017 included this clause but it was dropped prior to the general election, then reintroduced in […]
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