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Closed-book giant Phoenix: ‘No evidence’ exit fees blocking pension freedoms

Closed-book provider Phoenix Life says it does not consider exit charges a problem and finds “no evidence” penalties are stopping customers using the pension freedoms. The stance comes a day after Scottish Widows announced plans to scrap all exit fees on workplace pensions and Money Marketing revealed Standard Life and Prudential have capped penalties. Phoenix […]

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Regulators rubber-stamp Just Retirement/Partnership merger

The merger of annuity providers Just Retirement and Partnership has been approved by the FCA and the PRA. The two firms, which were both hammered by Chancellor George Osborne’s pension freedoms reforms, announced plans to merge in August last year, with the Competition and Markets Authority backing the deal in October. And in a stock […]

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Fundsmith’s Terry Smith sues Barclays for £220k

Terry Smith is suing Barclays for £220,000 for failing to transfer money, claiming he lost out on investment returns in his Fundsmith Equity fund. Smith, who was formerly the boss of Tullett Prebon, says it took Barclays almost three years to transfer money from a company owned by him, reports The Times. Smith says he […]

Tony Wickenden: Lifetime Isa offers glimpse into pension tax future

Following the trend of those over the past few years, the Budget had plenty for financial planners to get stuck into. The “bigger picture” saw some interesting tax reductions and incentives being substantially funded by the continued war on aggressive tax avoidance. Multi-national companies and their tax shenanigans have been in the news since Starbucks […]

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