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Leader: The rise and rise of the Isa

Away from the death of the Money Advice Service, the revelation of the Lifetime Isa was undoubtedly the biggest story to come out of the Budget. From simple beginnings the humble Isa has been put through the Government machine to become all things to all men, deployed for kids’ savings, a house deposit, peer-to-peer lending, […]

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Annuity sales outstrip drawdown for first quarter since freedoms launch

The last three months of 2015 saw providers sell more annuities than drawdown products for the first time since the pension freedoms were launched, according to the Association of British Insurers. ABI director general Huw Evans told Parliament’s Work and Pensions committee Q4 saw members of the trade body sell 21,000 annuities, compared to 19,500 […]

Money Advice Service
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Treasury admits MAS branding ‘misleading’ as service is scrapped

The Government has admitted that the Money Advice Service brand is “misleading” to consumers because it does not offer regulated advice. Under proposals now under consultation, MAS will be closed, with its pension guidance remit going to a new provider, while a second body with a responsibility for money guidance will also be launched. In […]

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Govt-backed charter to link City bonuses to gender diversity

A Government-backed review of gender diversity in financial services has called on firms to link executive bonuses to the appointment of women in senior positions. The charter sets out how to implement the recommendations in a report led by Virgin Money chief executive Jayne-Anne Gadhia. In particular, the report recommends financial services companies “connect parts […]

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