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Govt extends secondary annuity market to final salary schemes

The Government has widened the scope of its plans to let pensioners cash in their annuities to some members of defined benefit schemes. An HMRC consultation published today reveals final salary schemes that have purchased annuities as an asset will be able to assign them to individual members who in turn can sell them on. […]

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FCA chair’s record annual expenses bill hits over £40k

FCA chairman John Griffith-Jones has surpassed the regulator’s executive expenses bill racking up more than £41,000 over 12 months. The regulator revealed Griffith-Jones filed expenses of £41,132.75 in the 12 months ending in March through updated figures for allowances and expenses claimed by its chairman and executive board members. Griffith-Jones racked up expenses of £7,260.91 in […]

Mark Devlin: Getting ready for the residence nil rate band

Fred and Daphne, aged 70, are comfortably retired and have £20,000 of excess pension income building up in their bank account. They also own a house worth £850,000 and have £75,000 in their bank accounts. As they have been building up excess income, last year they jointly placed £300,000 of their accumulated wealth into a […]

How QE is distorting the gilt market

By Mike Riddell The moves in gilts in August were truly exceptional. Volatility in the gilt market (based off 10-year gilt futures) has soared to close to the highest levels seen this millennium, on a par with the eurozone debt crisis of 2011/12 and behind only the global financial crisis of 2008/09. The first distortion […]

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