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Apfa: The dangers of a radical pension tax relief overhaul

Summer saw a flurry of FCA papers on everything from capital adequacy requirements to smarter consumer communications and, of course, the announcement of a Financial Advice Market Review. There is plenty going on in terms of regulatory developments. However, it would be a mistake for advisers to take their eye off the pension reform ball […]

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BoE’s Carney warns of climate change financial stability risks

Bank of England governor Mark Carney has warned investors they could face “huge” financial losses due to climate change. Speaking at a gathering of insurers at Lloyd’s of London last night, Carney said the challenges posed by the weather-related catastrophes “pale in significance compared with what might come”, the BBC reports. He said insurers are the most exposed […]

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TPR clashes with FCA over retirement risk warnings limit

The Pensions Regulator has set itself on a collision course with the FCA after chief executive Lesley Titcomb suggested setting a £10,000 minimum for retirement risk warnings would be “problematic”. Earlier this month, the FCA announced a relaxation of the new ‘second line of defence’ rules. As a result, contract-based pension providers will only need […]

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M&G Optimal Income fund sheds £5.5bn

M&G’s Optimal Income fund has shed £5.5bn so far this year, dropping from its peak of £25bn in assets. The fund has seen consistent net outflows this year from a high of £24.6bn in assets at the end of January to £19.1bn at the end of August. June and July marked the worst months of […]

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.

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