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 […]
Impartial, independent professional advice is not cheap and one of the often-discussed contributory factors in this cost is that of regulation. The Financial Services Compensation Scheme interim levy bills are a good example of regulatory costs pressures. Adviser firms have little choice but to find a, hopefully, palatable way to pass this on to the […]
Advisers fear the first four escalating fines issued to employers by The Pensions Regulator are the tip of the iceberg as more than a million of the UK’s smallest firms prepare to auto-enrol staff for the first time. The regulator’s latest quarterly compliance bulletin shows it sent £400 fixed penalty notices to 198 employers in […]
Fixed penalty notices also increase in Q1.
Steve Webb’s latest policy paper British savers risk being left in the ‘slow lane’ unless the UK Government takes a more active role in ensuring the successful delivery of a Pensions Dashboard. The report, ‘Pensions Dashboards around the World’, coincided with a major conference that was held on Monday 16 May and brought together experts […]
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