The model for the Financial Services Compensation Scheme levy could be radically redrawn as part of its 2016 funding review, chief executive Mark Neale says. Currently advice firms are charged on a pay-as-you-go basis which fluctuates depending on the level of compensation paid out to consumers. But speaking at the Money Marketing Brave New World […]
The Government is to press ahead with plans to allow pensions to sell-off their annuities and will unveil a consumer protection package next month. The proposals will come as part of a response to a now-closed consultation on the reforms due in December. The Chancellor announced plans to expand the existing pension freedoms to annuitants […]
Labour shadow pensions minister Nick Thomas-Symonds says he has “serious concerns” the Government could be planning to cut upfront tax relief in a “short-term dash for cash”. Speaking to Money Marketing, Thomas-Symonds hit out at one of the proposals set out by the Chancellor. He also criticised pensions minister Ros Altmann’s attack on the industry […]
Last week I looked at the rules for nominating beneficiaries’ flexi-access drawdown benefits under the pension freedoms regime. That nominees’ and successors’ drawdown is possible is good; that the rules are as they are in relation to who can receive these benefits is not so good. The following example will hopefully explain how beneficiaries’ flexi-access drawdown […]
Recent reports highlight that the Work and Pensions Select Committee of MPs are concerned about the potential for scams following the introduction of Pension Freedoms this year. This is a subject that we have already featured several times on the Jelf Blog, and one that we think is really important for employers (and of course […]
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Latest from Money Marketing
Sales skills in themselves are not a bad thing. It comes down to whether they are truly being used for the benefit of the client, not the adviser.
The merged company owns three platforms: Parmenion, Standard Life Wrap and Elevate, but is promising to keep ring-fencing.
A recent court case emphasises the importance of robust terms of business, clearly stating the scope of agreement with a client