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Pension cold-calling ban to start by June

A ban on pensions cold-calling will be put in place by June, following the tabling of new amendments to the Financial Guidance and Claims Bill. Ahead of the Commons report stage of the Bill on 12 March a “new clause 3” allows for the ban to start by the middle of the year. The Government […]

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FSCS: Advisers should tell clients about compensation scheme

Nearly two-thirds of clients had to proactively prompt their adviser for information about the Financial Services Compensation Scheme, a mystery shopping exercise has revealed. In a series of studies commissioned by the lifeboat fund, it has found that awareness of the FSCS is likely to lead to less risky product choices and greater sales of […]

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Govt to set out new law against bosses who risk employees’ pensions

The Government is set to announce a new criminal offence of neglecting pension responsibilities this week, in the wake of the BHS and Carillion collapses. The Observer reports that ministers are set to confirm they will target employers under the new rules, which will protect pension pots when companies go under. Under the new measures […]

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UK pension liabilities increase to £7.6trn

The UK’s total pensions liabilities rose by just over £1trn in the five-year period from 2010 to 2015, according to figures published today by the Office for National Statistics. From 2010 to 2015 pension liabilities in nominal terms went from £6.6trn to £7.6trn and this includes state pensions, public sector pensions, company pensions and private […]

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