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OFT targets active member discounts in pensions study

The Office of Fair Trading will call for active member discounts to be banned in a forthcoming report on the defined contribution workplace pensions market, according to The Sunday Times.

In May, the OFT published a market update on its DC pensions study setting out concerns about governance, legacy charges and schemes being used for auto-enrolment which have “built-in” adviser commissions.

The update also pointed to active member discounts, where members who have stopped making contributions to a scheme are charged more than active members, as a potential problem in the market.

The Sunday Times says the OFT will call for AMDs to be banned in its final report, which is due to be published on Friday.



Ian McKenna: Why the Iress/Avelo deal could be good news for advisers

The more I look at the Iress acquisition of Avelo, the more I think this deal makes a lot of sense for all involved. It is easy to think of Avelo as primarily a supplier of software to the investment and protection markets but in reality the business had acquired a number of mortgage software suppliers […]

Cofunds merges retail and institutional fund teams

Cofunds has appointed Graham Venn as head of commercial and Britt Holland-Ellice as head of fund manager relations while merging its retail and institutional fund relations teams. Holland-Ellice replaces former fund group relations head Michelle Woodburn who left the platform in July. Holland-Ellice was formerly in charge of fund relations for the institutional business. Venn replaces […]

Panorama: Informed tax expose or superficial sensationalism?

The use of  ”superficial sensationalism” in the title  does not represent Technical Connection supporting aggressive tax avoidance. It’s just a plea for a little more grown up journalism. Last night’s programme on tax avoidance didn’t really help the debate …. and caused me to miss Corrie! The majority of the programme felt like an advert […]

When will US rates rise?

By Felix Wintle, Investment Director & Head of US Equities The most recent communication from Federal Reserve chair Janet Yellen has put the market’s sights on September as the most likely month for the first rate rise. This is due to the stronger than expected economic data of late, particularly in employment and housing, which […]


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