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PFS launches consumer education website

The Personal Finance Society has launched a consumer education website as part a drive to improve its public profile. Yourmoney provides guidance and tools on issues such as planning for retirement, managing debt and saving and investing. It gives tips on how to avoid investment scams, explains the benefits and costs of regulated advice, and […]

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D2C platforms attacked over exit fees

Three leading direct-to-consumer platforms that charge exit fees have been accused of making customers pay for their own failure to bring down the costs of transferring assets. Last week, Axa announced customers on its Self Investor platform would be given up to £750 towards the cost of paying exit fees levied by ceding providers. Axa […]

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Partnership eyes platform tie-up as annuity slump continues

Partnership is working on plans to tie up with a platform in the second half of the year as the specialist provider looks to counter a 73 per cent fall in individual annuities. In its results for the three months to the 31 March, published today, Partnership says it is working with a third party […]

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Zurich transfers annuity book to Rothesay Life

Zurich UK Life is to transfer its legacy portfolio of £1.2bn of annuities to specialist insurer Rothesay Life for an undisclosed fee. Under part seven transfer rules the transfer, of around 28,000 policies, is subject to a review process by regulators and courts before it can complete. Zurich has not actively promoted annuity sales since […]

When and how chargeable gains are taxed

You may have clients holding UK and international bonds, both of which are subject to income tax under the chargeable events regime. With an international bond, investors benefit from growth that is largely free of tax as no UK tax is imposed on the income and gains in the underlying funds. However, under a UK […]

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