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Govt crackdown to protect pensions when firms go bust

The government is pressing ahead with plans to safeguard pensions when a company goes bust with directors potentially facing being banned or fined. Directors who dissolve their companies to avoid paying pensions could be subject to the penalties. Under the new powers the Insolvency Service will be able to fine directors or have them disqualified. […]

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Equity release advice unnecessary, most over-55s say

81 per cent of over-55s would feel confident in taking out an equity release plan without seeking advice, research from Moneyfacts suggests. 44 per cent thought they have no need for advice, 29 per cent would not trust an adviser, and 8 per cent of respondents believe financial advice to be too expensive. In late […]

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FCA to bill claims managers for cost of regulation

The FCA has confirmed that the cost of regulating claims management companies will fall on the firms themselves as it sets out its plans to recover fees from the sector. The watchdog has been given responsibility for regulating CMCs as of April next year, superseding the Claims Management Regulator. In a consultation paper this morning, […]

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Gregg McClymont: What Australia’s pension scandals can teach us

Australia’s defined contribution pension arrangement (known to Aussies as “super”) is the largest in the world, with assets of A$2.6trn – 144 per cent of GDP. Not bad for a system built from scratch in the early 1990s via mandatory employer contributions. Those involved in delivering auto-enrolment here in the UK always saw super as […]

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