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MPs call for secondary annuities market rethink

A group of MPs is calling on the government to bring in legislation that would allow five million pensioners to partially sell annuities purchased before pension freedoms were introduced. The “Your Pension, Your Choice” campaign has been launched to urge the government to allow all retirees to have the same pension freedoms. Since the introduction […]

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HBOS fraud victims set to accept redress from Lloyds

The influential Treasury committee is expected to release figures imminently relating to redress claims made to Lloyds Banking Group for fraud at the HBOS Reading branch, as it is reported more than 50 of the 70 victims have accepted compensation offers. In February last year a group of financiers, including two former HBOS employees, were […]

Calls for better links between platforms and back-office tools grow

A lack of integration between back-office systems, platforms and digital tools is preventing advisers from making full use of technology, research from Platforum and Origo finds. The white paper shows 17 per cent of advisers think “integration between systems” is the most significant challenge they face. This was ranked above other challenges, including provider processes […]

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Lib Dems back cooling off period for pension withdrawals

The Liberal Democrats are calling for the government to introduce a cooling off period for people who take more than the minimum lump sum from their pension pot without taking financial advice. Currently, withdrawals over the 25 per cent minimum are taxed at an  emergency tax rate, which can lead to pensioners paying too much […]

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