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Advisers slam Now: Pensions over £500 employer exit fee

Automatic enrolment provider Now: Pensions has come under fire for hitting employers with an exit fee if they choose to switch to a different scheme within two years. Under scheme rules in place since it launched in 2012, employers who decide to switch provider within the first 24 months have to pay a fine depending […]

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Labour targets £7.5bn tax evasion clampdown

Labour has claimed it will reduce tax avoidance and evasion by £7.5bn a year by the middle of the next parliament.  The party has also pledged to reduce pensions tax relief for higher earners, alongside similar plans by the Conservatives. Shadow Chancellor Ed Balls laid out the target this weekend as part of a ten-point […]

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UK economy ‘to grow 2.8% in 2015’

The UK economy will take uncertainty created by the general election “in its stride” and grow 2.8 per cent this year, the EY ITEM Club says. The consultancy’s spring forecast, which uses HM Treasury’s economic modeling, predicts gross domestic product will hit 2.8 per cent this year and 3 per cent in 2016. This is […]

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PRA confirms 100% annuity compensation

People in receipt of annuities will receive 100 per cent compensation if their provider goes bust, the Prudential Regulation Authority has confirmed. Following a consultation the PRA says it plans to increase the long-term insurance – including annuities, pensions and life assurance – FSCS compensation limits to 100 per cent, up from 90 per cent. […]

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