The Department for Work and Pensions has been criticised for failing to make adequate information available to pensioners and disabled people.The National Audit Office and work and pensions select committee say they found the DWP’s pension information leaflets for these two groups very difficult to obtain. Their findings cast doubts over the Government’s ability to provide consumer information on pensions. This comes as the Government insists it would rely on leaflets to communicate the details and benefits of its proposed pension personal accounts and the need to save for retirement. The NAO says the need to convey often complex information in accessible formats to the public is a constant challenge for the DWP. A DWP spokeswoman says: “All our leaflets have the plain English crystal mark accreditation and we have invested a lot of time and research into our pension guides.” Syndaxi managing director Robert Reid says: “I do not think anyone knows where or how to access information on pensions.”
Advantage has joined the Governments Open Market Homebuy scheme as its fourth lender.The Morgan Stanley-owned firm has added its name to that of HBOS, Nationwide and Yorkshire Building Society as a partner in the initiative. The Government scheme has come under fire over recent months for failing to attract enough lenders, while those on board […]
The Equity Release Advisory Service has set up a centre of excellence for advisers, called Equity Advice to help train advisers.
Coventry Building Society says it expects other lenders to follow its example of axing early repayment charges from its sub-prime range. It has set up a suite of near-prime, light-adverse and extra-light adverse deals without an ERC, claiming to be the only top 20 lender to make the move. Head of intermediary sales Julie Jones […]
Scottish Life head of pensions strategy Steve Bee says the life and pension industry faces its biggest shake-up in recent times and is heading towards “a perfect storm”. He says the A-Day changes will pale in comparison with the upheaval yet to be felt by the industry, with age discrimination rules and the Government White […]
The companies held in the Artemis European Opportunities Fund are resilient and still growing. Mark Page finds little to worry stockpickers who focus on the fundamentals.
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Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]
Building on auto-enrolment’s success and fine tuning the pensions dashboard are high on the list As I write my first Money Marketing column of the year, it has given me an opportunity to look back on what the Government has done to transform pensions and savings for people since 2010. Five years on from the […]