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MP George Mudie to quit TSC after 13 years

Labour MP George Mudie is standing down from the Treasury select committee after 13 years.

Mudie, who is standing down as an MP next May after 23 years, has interrogated bankers, politicians and quangos across three parliaments.

Last year he chaired a sub-committee investigation into the Money Advice Service. It published a scathing report into the body which sparked an independent review into the organization commissioned by the Treasury.

The move will spark a vote for Labour replacement among the parliamentary party from candidates who want to join the committee.

Speaking to Money Marketing, Mudie said: “I have decided I’ve had enough and we are looking for a replacement.

“I am leaving parliament at the next election and I thought it would be a good time to leave the committee and let someone else get their feet under the table.”



Pensions minister calls for ability to ‘unwind’ pre-Budget annuities

Pensions minister Steve Webb has argued people who bought annuities before the Budget should have the option of unwinding them. Speaking at the NAPF annual conference in Liverpool yesterday, Steve Webb also said he wants to change the rules around annuities to allow people to turn them back into cash in the future if they […]


BoE launches review into payments system failure

Bank of England governor Mark Carney has launched an independent review into a technical failure that meant no UK borrowers could access a mortgage for extended periods yesterday. A glitch in the real time gross settlement payment system, which allows money to be transferred between banks in real time to fund investment banking and consumer […]


Over half of auto-enrol investigations uncover breaches

The proportion of auto-enrolment non-compliance investigations by The Pensions Regulator that uncover breaches has more than doubled since the start of the year. According to Freedom of Information requests submitted by Creative Auto Enrolment and seen by Money Marketing, between January and August 58 per cent of investigations found potential or actual breaches. Between October […]

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How do advisers sort the good risk-profiling tools from the bad?

Advisers must ask the right questions and understand the limitations of risk-profiling tools to avoid the compliance dangers associated with their use, say experts. Risk-profiling tools have come in for heavy criticism in recent months. Most recently, Morningstar Investment Management co-head of investment consulting and portfolio management Dan Kemp claimed advisers’ use of risk-profiling tools […]

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(Another) downhill stroll — retirement planning

A report published this morning by the CIPD (CIPD Employee Outlook March 2015) provides yet more interesting data to the changing landscape of retirement planning. It should be remembered that we are in a period of genuine flux here given that the default retirement age was scrapped three years ago, and new pension freedoms come online in April. Both of these alterations will have a huge impact on how employees plan for their retirement.


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