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FCA early exit fees cap ‘paves way to price regulation’

Advisers have been warned the FCA’s move to impose a 1 per cent cap on early exit charges for existing personal pensions is “dangerous” and paves the way for the FCA to act as a price regulator. The regulator published a policy statement on Tuesday which sets the cap at 1 per cent of the value of benefits […]

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Govt slashes money purchase annual allowance

Chancellor Philip Hammond has used his Autumn Statement to cut the money purchase annual allowance in more than half. The MPAA – the annual amount individuals can contribute to defined contribution pensions after having previously accessed a pension flexibly – will be slashed from £10,000 to £4,000. The cut will come in to force in April 2017. […]

Godfrey’s The People’s Trust reaches fundraising target

The People’s Trust, the new fund to be launched by former Investment Association chief Daniel Godfrey, has reached its minimum funding target of £100,000 less than a month after it was announced. The fund, which seeks total returns of 7 per cent annually over a seven-year period, will be launched in the first half of next […]

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