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Richard Harrington replaces Altmann as pensions minister

Watford MP Richard Harrington has been appointed as a replacement for pensions minister Ros Altmann. His official title is parliamentary under secretary of state at the Department for Work and Pensions. However, a DWP spokesman confirms he will be known as the pensions minister. It is not yet clear whether his brief will differ from […]

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SJP hikes dividend by 15% despite £17m FSCS hit

St James’s Place has decided to increase its interim dividend payout by 15 per cent despite a Financial Services Compensation Scheme levy of £17m. The interim dividend for 2016 will be 12.33p, paid on 30 September. SJP says its FSCS levy has hit “all profit measures”, but expects the levy to “return to a more […]

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Nest chair responds to concerns over expansion plans

Nest chair Otto Thoresen responds to concerns over the Government’s proposals for expanding Nest. Other providers are saying this is an example of mission creep, is this fair? No. Nest was set up in a world where most of our members were compelled to annuitize and we had a retirement journey in place which reflected […]

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