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.
Out of context “If you hear any music, don’t worry, it’s not my iPod.” Pimfa’s Liz Field apologises to MM after train delays force her to dash into a coffee shop for an interview “Paid in wine please.” Yardstick Agency Founder Phil Bray jokes about his payment preference after giving financial planning personality Phil Billingham a […]
Inflation stayed put at 2.4 per cent in June, bucking against an expectation it would rise to 2.6 per cent. Data from the Office for National Statistics released today show inflation will remain at its lowest level for 12 months. Smith & Williamson Global Inflation-Linked Bond Fund manager Thomas Wells says the Bank of England will now […]