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Trade bodies in six-way merger pick name for new organisation

The new financial trade association representing a merger of six bodies in the finance industry has been named as ‘UK Finance – Representing UK Finance and Banking’.

The name for the new body comes after it was announced last year that the Asset Based Finance Association, British Bankers’ Association, Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK and the UK Cards Association would all be merged under one body.

The name was was decided on unanimously by the interim board set up by the groups.

Last month Bob Wigley was announced as the Chair of UK Finance, commencing his role on the 1 March.

Bob will oversee the appointment of the chief executive of the new body and the integration of the existing trade associations. UK Finance is set to launch in the summer of 2017.


Delays hit trade body mega-merger as bosses eye deal in mid-2017

A financial trade body mega-merger is set for mid-2017 after delays caused by trying to find a chairman, Money Marketing sister title Mortgage Strategy understands. The British Bankers Association, the Asset Based Finance Association, Payments UK, Financial Fraud Action UK, the Council of Mortgage Lenders, and the UK Cards Association were expected to announce who would chair their new […]


Ian McKenna: Advisers can cash in on new robo-advice options

Last month saw the launch of Dynamic Planner’s Access Advice; another significant option for advisers who wish to offer their clients automated advice. Distribution Technology has approximately 7,500 users of its Dynamic Planner system. Add to this the 14,500 users of Intelliflo’s Intelligent Office (which provides the Automated Advice function) and, while there will be […]


Ex-Bank boss calls on Govt to put pensions before Brexit

Former Bank of England governor Lord Mervyn King says politicians are obsessed with Brexit to the detriment of more fundamental issues such as pension saving and long-term care. Speaking on BBC’s Newsnight programme last night, Lord King said there was a risk “big questions” will not be addressed if the sole focus is the UK’s […]

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Survey looks at the challenges facing businesses post auto-enrolment

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.

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England vs Australia: pensions

Well, the cricket season is here, and England and Australia are stepping up to the wicket. Although we compete with each other in the sporting world, when it comes to pensions, Australia’s pension programme is held up as a model for our auto-enrolment initiative. Auto-enrolment was introduced because people weren’t saving enough into their pensions, and it is still early days but signs are positive. However, in Australia, saving into a pension is compulsory, and in fact employers are the ones who have to pay in. Employees in Australia can make additional contributions into their pensions, but they don’t have to. Should the onus be on the employer or employee to save? Well in the UK we think it’s both, but to get ‘adequate’ savings for retirement it’s the employee who has to pay more in.


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There is one comment at the moment, we would love to hear your opinion too.

  1. That seems eminently sensible. It takes me back to the time I was on the AIFA board. We had serious financial problems. It would have made sense to at least investigate a merger. When I suggested it you would have thought I had asked to open a brothel.

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