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Royal London swoops for Axa UK protection arm

Royal London is finalising a bid for Axa Wealth’s protection business, Money Marketing understands. The mutual is believed to be in second round talks with the insurer, along with several other potential buyers, in a deal insiders estimate at £40m. In August 2015 Money Marketing revealed the French-owned wealth manager was up for sale. Royal […]

Angela Rayner
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How Labour plans to wage the pensions policy battle

Labour’s fourth shadow pensions minister in under a year says she will introduce a “campaigning element” to the role, holding the Government to account over the retirement freedoms, automatic enrolment and the new state pension. The party has been criticised for stepping back from key financial services debates, including the Financial Advice Market Review and the pension […]

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Scottish Widows to scrap all workplace pension exit fees

Scottish Widows is removing exit fees across all of its workplace pensions ahead of Government moves to cap penalties when customers leave policies early. In January George Osborne handed the FCA a duty to cap “excessive” exit fees. The level of the cap has not yet been set but Scottish Widows says it will scrap […]

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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 […]

Investment Clock Economic Update

In his latest Investment Clock economic report Ian Kernohan, Senior Economist at Royal London Asset Management, argues that ‘Lower for longer lives on’. Read the report here: The value of investments and the income from them is not guaranteed and may go down as well as up and investors may not get back the amount […]

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