The Government Actuary’s Department is to look at projected life expectancy in future years as part of the state pension age review. Pensions minister Richard Harrington has commissioned the work, which will see the actuary department consider two scenarios based on adult life starting at 20. The first scenario is based on people receiving the […]
Economic uncertainty has weighed on platform sales, with gross sales in the third quarter dropping to their lowest level in two years, according to Fundscape. Fundscape’s latest platform report shows in Q3 gross sales fell to £21bn, the lowest level since Q3 2014. Net sales plummeted to £8.6bn, the lowest volume of sales since RDR, […]
Former BHS owner Dominic Chappell has been arrested as part of a tax investigation following the collapse of the department store earlier this year. The Guardian reports Chappell’s personal company, Swiss Rock, owes more than £500,000 in tax, including £365,000 in VAT and £196,306 in corporation tax. Swiss Rock was paid at least £1.6m by […]
By David F Lafferty, CFA, SVP – Chief Market Strategist Thursday’s historic Leave vote in the UK will have both immediate and long-term consequences for the global economy and financial markets. The initial flight-to-quality reaction across asset classes has been exacerbated by the market’s misplaced confidence in a Remain victory leading up to the vote. Stock markets […]
Adviser trade body Pimfa has called on the government to go forward with the pensions dashboard as rumours swirl that ministers are considering abandoning the idea. Pimfa’s call comes after reports claim work and pensions secretary Esther McVey believes that the pensions dashboard would be a distraction to rolling out universal credit and so should […]
The Money Advice Service will soon be superseded by a new public financial guidance body, rolling it into Pension Wise and The Pensions Advisory Service. Money Marketing looks at some of the key stats for the organisation ahead of the transition.
The year so far has been full of manager and senior staff moves. Earlier this month, eight senior staff at Standard Life Aberdeen left to go to Aviva Investors, to join former Standard Life Investments equities head David Cumming. With moves like this in mind, is a management team or sole manager the better choice? […]