The Labour Party is asking its workers to accept a 25 per cent cut in pension payouts and work until 65 instead of 60. Unions representing 200 Labour staff have reacted angrily to the cuts, which the party hopes will help to reduce its 27m debt.
IFAs with expatriate clients could get caught out if they rely on HM Revenue & Customs’ list of qualifying overseas schemes to decide where to transfer pension funds.HMRC publishes a monthly list of “qualifying recognised overseas pension schemes” that have consented to having their details published for UK scheme administrators wanting to move clients’ pension […]
HBOS’s retention policy has been hit by a double-barrelled assault after the FSA confirmed it will probe the payment of proc fees while Nationwide slammed the scheme.The FSA will investigate whether brokers are correctly conducting the fact-find when they are paid a proc fee on retention business. It will form part of the retail distribution […]
Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.
The Pensions Administration Standards Association has elected its director of eight years Kim Gubler as chair. Gubler currently holds the position of deputy chair with the standards body, and will replace Margaret Snowdon from 1 January. Gubler has held a variety of executive positions across the industry, including chair of the joint Standards and Accreditation […]
The state pension is set to increase by 2.6 per cent from April next year after inflation fell more than expected in September. Office for National Statistics data published today shows the Consumer Prices Index inflation stood at 2.4 per cent in September. The index is used for the state pension triple-lock uprating that guarantees […]
As discussed last week, the regulator, being the regulator, will regulate. That is what it does. It is its job. Ensuring we are compliant is expensive and exhausting but it is not the same as ensuring we have a robust strategy. There is overlap, for sure, but it is not a substitute. While it may […]