View more on these topics

NU says NAO conclusions are no surprise

Providers say they are not surprised by the outcome of the National Audit Office&#39s review of the Government&#39s £1.4m lifetime contribution limit cap published today.

Norwich Union says it expected the NAO to largely agree with the Revenue&#39s estimates of who would be affected immediately and in the future by the implementation of pensions simplification including the lifetime cap.

NU Life strategic development director Stephen Mann says: “We&#39re not at all surprised that this is the outcome. If Gordon Brown wanted to stake his reputation on something it wouldn&#39t be this.

“The issue of who is going to be affected in the future was always going to be more speculative, all the NAO has said is there isn&#39t enough evidence to prove that the Revenue is wrong.”


Commission culture exacerbated endowment crisis

Labour MP John McFall has blamed the financial services industry&#39s commission culture for exacerbating the endowment crisis and has called for a “more positive engagement” from the industry in tackling the problems created by mortgage endowment shortfalls. The Treasury select committee chairman has made the call following the publication of the committee&#39s report on restoring […]

Pickering calls for a 40% pension and public exit from private plans

The state should pay a basic pension of 40 per cent of average earnings from age 68 but should have no role in the design of private pension products, says the Adam Smith Institute. The right-wing thinktank says a substantial state pension would remove the need for today&#39s heavy and expensive regulation of private pensions, […]

&#39FSA has tightened up&#39

Insurance industry analysts say the FSA has already done much to ensure situations such as the Equitable Life debacle do not happen again such as introducing principles and practices of financial management and probing the appointed actuary role. Independent analyst Ned Cazalet says: “What we did have in the old days was a bunch of […]

Axa Investment Management – Axa Select Active Portfolio

Type: Oeic fund of funds Aim: Growth by investing globally in equities through segregated mandates and collective investment funds Minimum investment: Lump sum £100,000 Investment split: 100% global equities Isa link: Yes Pep transfer: Yes Charges: Initial 5%, annual 1.5% Commission: Subject to negotiation Tel: 020 7003 1234

Phone - thumbnail

Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm