Labour has criticised the Government’s ‘pot follows member’ automatic pension transfer plans and proposed an alternative scheme with a 0.5 per cent charge threshold for participating providers. In April, the Department for Work and Pensions set out proposals to introduce a new auto-transfer system for people with pension pots worth less than £10,000. Policymakers are […]
Now: Pensions trustee chairman Nigel Waterson has criticised the industry for indulging in “false euphoria” over early low automatic enrolment opt-out figures. Analysis by the Department for Work and Pensions suggests opt-out rates have been around 9 per cent on average for the first six months of auto-enrolment, leading some in the industry to brand the […]
The National Association of Pension Funds has reiterated calls to create a single pensions regulator and warned auto-enrolment will make the current regime “increasingly unsustainable”. Pensions regulation is currently split between the FCA, which regulates contract-based schemes, and The Pensions Regulator, which is responsible for regulating all workplace pensions, including trust-based defined contribution schemes. The […]
Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, discusses how the firm takes into account human behaviour when constructing their portfolio, specifically by embedding the idea of volatility targeting in all of their strategies.
The FCA has written to payday lenders and urged them to review their lending activity to see if their creditworthiness assessments are compliant. In a letter addressed to chief executives, it sets out how the watchdog expects payday lenders to handle issues linked to the increase of complaints about unaffordable lending. If deficiencies are found […]
Around 125,000 savers lost out when the annual allowance limit was cut from £50,000 to £40,000 in the 2014/15 tax year, according to government documents. Royal London policy director and former pensions minister Steve Webb pointed to the findings this morning in an archived government note as the firm launched a new policy paper on […]
I wonder how many client conversations come to an impasse when the subject of their existing cover is discussed. All too frequently, we find clients have little knowledge of their employment benefit package. Death in service, critical illness cover and sick pay benefit periods may have been discussed during the recruitment process and will be […]