Webb denies new state pension was mis-sold

By |2016-10-12T21:01:45+01:00November 25th, 2015|News|

The new state pension was not “mis-sold”, according to the former pensions minister Steve Webb. Giving evidence to the Work and Pensions Committee this morning he said that communications around the new flat rate had been deliberately simplified because providing technical detail on things like contracting out would have stopped the overarching message of the [...]

Altmann pushes for Care funding Isa

By |2016-10-12T21:01:45+01:00November 24th, 2015|News|

Much more work is needed to move the long-term care agenda forward, according to the pensions minister, who backed the possibility of innovation around saving plans or care Isas. Speaking at today’s Marketforce Retirement Solutions Forum, Ros Altmann stated that while there has been billions of pounds set aside for pensions provision, barely any is [...]

Is the chancellor coming to TEE?

By |2016-10-12T21:01:46+01:00November 24th, 2015|News|

Debating the merits of changing the system of pension tax relief. The chancellor George Osborne has now decided that any major changes to the current system of tax relief on pension contributions will be made in the 2016 Budget, rather than in this year’s Autumn Statement, as originally planned. Is more radical change indicated by [...]

Why restricted advisers are far from being the best

By |2016-10-12T21:01:46+01:00November 18th, 2015|News|

Post-Retail Distribution Review regulatory changes and a new marketplace have led many large adviser firms down the restricted route. Many advisers have gone restricted in the belief that this can offer reduced costs and allow them to retain more of the overall client fee in house. While this could be considered good news from a [...]

FCA chair says volume of EU rules is painful

By |2016-10-12T21:01:46+01:00November 12th, 2015|News|

The “sheer volume” of new rules coming from the EU over the next 12 months will create issues for compliance, systems and management functions, admitted the Financial Conduct Authority’s chairman John Griffith-Jones. Speaking this morning at the Wealth Management Association’s annual summit, he said that this creates a “painful timeline” and “cannot be a sustainable [...]

Personal Pensions Inquiry

By |2016-10-12T21:01:46+01:00November 4th, 2015|News|

The Work and Pensions Committee has launched an inquiry into the new State Pension - set to be introduced next April - after concerns were raised that many of those who will be affected do not know enough about the changes or exactly what they will mean for their pensions. A statement warned that people [...]