The FCA has published new rules reacting to the first year of the Government’s pension freedom reforms. The changes include a ban on sending product application forms with wake-up packs, extending advice requirements to UFPLS and introducing more flexibility around the so-called second line of defence. However, in a consultation response published today the regulator […]
Wealth manager Towry has seen its profits almost halved in 2015 by costs relating to its acquisition of Ashcourt Rowan, while the deal also boosted assets under management, revenues and Ebitda. The firm, which agreed a £120m deal for Ashcourt Rowan in February 2015, saw operating profits dip from £8.3m to £4.2m, in part due […]
A worrying number of Sipp providers’ business models, including well-known firms, are unsustainable, new analysis has warned. Research consultancy Finalytiq’s first review of the sustainability of the bespoke Sipp market, seen exclusively by Money Marketing, reveals Carey Pensions, @SIPP and London & Colonial are set to struggle. All three Sipp operators were given the lowest […]
National Insurance contributions should be raised to solve the self-employed pensions crisis, says Royal London. In a report published this weekend, the mutual says Class 4 NICs paid by self-employed people should be raised from 9 per cent to 12 per cent. The extra cash raised would be put into a pension or Lifetime Isa […]
One of the areas that will be high on the new minister for pensions’ to-do list will be the forthcoming review of automatic enrolment (AE). The outgoing minister had regularly said that AE contribution levels would need to be revisited early in this parliamentary term, and new research by Jelf Employee Benefits reveals employer support for such proposals.
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