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.
Jane Smith Financial Planning director on managing her goals and developing a guidance service for clients Financial planners help clients achieve what they want from life and adapt the course of that journey when necessary. But how often do they follow their own advice when it comes to their business and personal objectives? Jane Smith […]
Openwork has announced it has developed its own lifetime mortgage product, and that it is now available through a pilot scheme. The financial advice network details that its monthly income drawdown offering is available through an exclusive partnership with Canada Life, which bought Retirement Advantage in January last year. It says the product has been designed […]
Zurich has added a junior Isa and pension to its platform as part of a wider ‘cradle to grave’ intergenerational planning solution. The Isa can be opened on behalf of a child while a junior retirement account option allows guardians and parents to contribute up to the £2,880 annual limit yearly. Charges for the products […]