Savers have withdrawn £5.9bn since the pension freedom reforms came into force, according to the Association of British Insurers. The new data, which covers the first nine months of the reforms, reveals £3bn has released through 213,000 lump-sum payments, with an average payment of £14,800. The trade body adds £2.9bn was taken through 835,900 income […]
Whenever I tell people I was born in Rome and lived the first 10 years of my life in Italy there is always someone who professes surprise at the fact I have somehow managed to master the odd word of English, let alone that I make a living writing in the language. Of course, living […]
The Prudential Regulation Authority wants to strengthen buy-to-let underwriting standards by insisting on a minimum level of stress testing to ensure loans remain affordable when rates rise. A consultation paper on the future of buy-to-let underwriting says the market is defined by short-term interest-only mortgages that leave consumers vulnerable to hikes in base rate. The […]
Standard Life is in talks with the Government and the FCA over concerns its old default funds remain targeted at annuity purchase. A report by the provider’s Independent Governance Committee, published today, reveals worries historic default strategies “either do not have a lifestyle design or have a design which remains targeted at annuity purchase despite […]
Do macro headlines create white noise which impacts market prices? Portfolio Manager at Harris Associates, David Herro, discusses how market volatility can create opportunities to buy good business at a discount.
Jeremy Corbyn says a Labour government will keep the triple-lock on the state pension. In his speech today at the Labour party conference in Liverpool, Corbyn committed to ensure the state pension would rise in line with the highest of earnings, inflation or 2.5 per cent. He also says a Labour government would protect the […]
With the infrastructure already available as part of open banking, it will pay to be smart rather than siloed News that the government will “leave it to the industry” to progress the pensions dashboard is generally positive. However, it raises as many questions as it answers, one of the most important being: what is the […]
A firm that approached the Complaints Commissioner over the conduct of the FCA in its pursuit of a late return fee has had its complaint quashed. The complainant contacted the regulator’s revenue team on 30 April expressing disappointment that confidential fee information had been disclosed to a staff member at their firm. The FCA did […]