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‘Totally unfair’: What pensions industry makes of cut to money purchase annual allowance

Former pensions minister Steve Webb is among the key pensions industry figures to speak out against government plans to cut the money purchase annual allowance on defined contribution schemes. The MPAA – the annual amount individuals can contribute to defined contribution pensions after having previously accessed a pension flexibly – will be slashed from £10,000 to […]

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FCA chief attacks managers keeping £100bn in ‘partially active’ funds

Financial Conduct Authority chief executive Andrew Bailey has hit out at fund managers for keeping more than £100bn in funds that are only “partially active.” The FCA is “not saying passive management is better than active”, Bailey says, but cites “strong and consistent margins” and unwavering charges in active funds compared to falling passive costs […]

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Investors pull £620m from UK equities

Investors continue to shun UK equities with the region seeing outflows of £620m in September, compared to £162m in August, according to the latest figures from the Investment Association. Overall, total net retail fund sales for the month were over 60 per cent down to £664m from £1.7bn in August. The UK All Companies sector […]

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Govt urged to tackle home ownership crisis

A review into declining home ownership has called for an independent housing commission to increase the number of homes being built. The Redfern Review, published today, recommends the commission champion the cause of long-term housing supply and work with the existing national infrastructure commission. The paper says housing supply needs to be boosted and maintained […]

Tax allowances and exemptions

Helen O’Hagan, Technical Manager at Prudential, looks into the planning strategies that can deliver considerable tax savings for your clients. Inheritance tax (IHT) Consider Margaret, featured on our Planning Matters family hub, who is a sprightly eighty year old with four children and several grandchildren. She’s recently been widowed and IHT planning is high on […]

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