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Labour U-turns on budget surplus plans

Labour is set to perform a dramatic economic policy U-turn by voting against Chancellor George Osborne’s plans to force future governments to operate a budget surplus, according to reports. According to the BBC, shadow chancellor John McDonnell has told MPs the party will oppose the measure in a vote in the House of Commons on […]

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HMRC: More than £2.7bn withdrawn from pensions since April

More than £2.7bn has been withdrawn from pensions through flexible payments since the retirement freedoms were launched, according to figures from the HMRC. The tax office says a total of 146,000 people accessed the freedoms through 251,000 payments between April and September. While the total number of payments and individuals remained broadly flat in Q2 and […]

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Advisers dismiss Royal London profit share scheme ‘gimmick’

Advisers have branded the extension of Royal London’s ProfitShare scheme a “gimmick” that will make it more complicated to compare pension providers. The mutual is to introduce profit sharing for hundreds of thousands of new and existing pension customers from 2017. It has offered its ProfitShare scheme to with-profits policyholders since 2007 and has now […]

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