Jenna Towler
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ABI says insurers 'can deliver' Osborne's pension advice promise
The insurance industry is capable of cost effectively delivering the Chancellor's ‘retirement advice for all' pledge, but passing the "impartially test" would be challenging, Otto Thoresen has told MPs.
ONS changes to turn UK into 'nation of savers'
Changes at the Office for National Statistics (ONS) which will count future pension rights as if they were present income will turn the UK into a nation of savers instantly, the Telegraph reports.
ABI says insurers 'can deliver' Osborne's pension advice promise
The insurance industry is capable of cost effectively delivering the Chancellor's ‘retirement advice for all' pledge, but passing the "impartially test" would be challenging, Otto Thoresen has told MPs.
Tax relief cuts on horizon as politicians look to save Treasury millions - think tank
Tax relief is "the lowest hanging fruit in Whitehall" and politicians were prepared to slash current levels to save the Treasury millions of pounds, according to a think tank.
Standard Life may ban workplace pension adviser charging
Standard Life is investigating placing a ban on adviser charging in connection with workplace pensions following discussion with the Financial Conduct Authority (FCA).
Standard Life may ban workplace pension adviser charging
Standard Life is investigating placing a ban on adviser charging in connection with workplace pensions following discussion with the Financial Conduct Authority (FCA).
Standard Life could exit Scotland over independence
Standard Life has put contingency plans in place to relocate its operations should Scotland vote for independence.
Webb wants one-year annuity 'cooling off period'
Retirees could be given the chance to switch annuity providers during a one-year ‘cooling off period' after agreeing a contract, pensions minister Steve Webb says.
Labour vows to cap scheme charges and force annuity broker use
Labour has vowed to push through a pension charge cap and make using an annuity broker mandatory should it win the next general election.
Lighthouse takes on AE market with pension trust 'for Middle Britain'
National IFA Lighthouse Group is set to launch a pension trust set up for multiple employers as it steps into the auto-enrolment market.
Webb: Govt still committed to pension charge cap
Pensions minster Steve Webb has reiterated his commitment to implementing a cap on pension charges, saying "nothing has changed" as a result of responses to the official consultation.
Webb: Pensioners should be able to switch annuities
Pensioners should be able to switch their annuity contract in a similar way to switching mortgages, Steve Webb has said.
FCA bans four over 'disgraceful' occupational pension advice
Four men have been banned from working in financial services over their ‘disgraceful' behaviour in relation to occupational pensions which saw them net £4m in unnecessary commission.
Cut 'expensive and regressive' pension tax relief - think tank
Tax relief on retirement savings should be cut and pensioners should have to pay National Insurance contributions, according to a think tank.
Just Retirement valued at £1.1bn
Shares in Just Retirement have been priced at 225p each ahead of its initial public offering (IPO), based on a market capitalisation of £1.1bn.
Aviva: Govt's 'seismic' commission shift may see 'thousands' of pensions repriced
Pensions minister Steve Webb's move to ban commission and active member discounts (AMDs) is a "seismic" shift for providers and will drive a completely new business model for advisers, Aviva has said.
Govt action on collective DC would boost pots by 30%, report says
Pension savers in defined contribution (DC) schemes could see their pots increase by a third if the government moved to introduce collective DC schemes, according to a report.
Standard Life sales up on AE boost as AUA nears £97bn
Standard Life's sales of long term savings products increased significantly in the first nine months of the year on the back of auto-enrolment.
Labour pushes to make annuity broking legal requirement
The use of an annuity broker at retirement could be written into the latest version of the Pensions Bill after Labour tabled an amendment to the legislation.
Provider warns on HMRC's 'sharpened' SSAS focus
It should be mandatory for small self-administered pension schemes to have a professional trustee to avoid potential devastating tax charges, a provider has said.
FCA: Annuity market self-regulation 'could fail'
The Financial Conduct Authority (FCA) will push ahead with its annuity market probe, and investigate if providers' profit margins are ‘high', despite industry murmurings self-regulation goes far enough.
Govt criticised over ineffective pensions policy
Government policies aimed a reducing the liability of the state for supporting people in retirement could fail due to being managed across different departments, auditors suggest.
LGIM to run NEST real estate investments
The National Employment Savings Trust (NEST) has picked Legal & General Investment Management to run two real estate mandates.
Partnership valued at £1.5bn for IPO
Partnership Assurance Group, the enhanced annuity specialist, has set its offer price at 385p per share meaning its implied market capitalisation for its initial public offering (IPO) is £1.5bn.
Pensions 'perfect storm' hits with saving at all-time low
The number of people saving adequately for retirement has hit an all-time low, while aspirations for pension income have risen, a Scottish Widows report has found.
Barnett Waddingham buys Origen SSAS business
Barnett Waddingham has bought Origen's small self-administered scheme (SSAS) business.
AMPS Conference: Industry 'frustrated' over pension liberation fraud
Police and regulatory action against pension liberation fraud is making progress, although much of the work is still taking place behind the scenes, delegates heard.
Treasury shreds 350,000 Equitable Life victims' details
The Treasury has admitted destroying a disc which contained the details of 350,000 Equitable Life victims' names and addresses.
Lloyds chairman Bischoff to retire
Sir Winfried Bischoff, chairman of Lloyds Banking Group after taking over during the financial crisis, is to retire from the group later this month.
Partnership set for IPO
Partnership Assurance is to float on the London Stock Exchange.
Consultancy charging ban 'less dramatic than it sounds'
The move to ban consultancy charging is "less dramatic than it sounds" as most of the charges that can end up with the employer's adviser remain unaffected, according to a consultant.
Govt bans consultancy charging and proposes fund charge cap on AE schemes
The government has banned consultancy charging in auto-enrolment schemes and will propose a cap on default fund charges in a forthcoming consultation.
Arrests made after police raid pension liberation call centre
A City of London call centre at the heart of a pension liberation operation has been raided by police and several people have been arrested.
Webb's latest policy move branded 'knee-jerk' UKIP reaction
Pension minister Steve Webb's decision to stop foreign spouses claiming UK state pension based on their husband or wife's history of National Insurance contributions is 'cynical' and a knee-jerk reaction to UKIP's election success, deVere Group has said....
Osborne to King: Bank must focus on short-term growth
George Osborne has said the Bank of England's new Financial Policy Committee must provide "consistent messages" so it does not risk jeopardising the economic recovery.
Mistakes and delays hit Equitable Life compensation scheme
Severe delays and errors have hit the payment scheme set up by government to compensate victims of Equitable Life, a report from the National Audit Office (NAO) has found.
Pensioner tax breaks should be reviewed says think tank
Better-off pensioners should pay tax at a similar rate to younger people on comparative incomes, according to the Fabian Society.
Which? calls for ban on consultancy charges
Consumer group Which? has called on the government to ban consultancy charging entirely from auto-enrolment pension schemes to give savers a 'fair deal'.
FSA fines Pru £30m over AIA deal
Prudential has been fined £30m by the City watchdog while its chief executive Tidjane Thiam has been officially censured, following the failed AIA deal in 2010.
L&G sees 2012 sales boost; AUM grows through auto-enrolment
Insurance giant Legal & General has reported increased operating profit of £1,087m following double digit sales growth.
Ex-Scottish Widows director Taylor joins NEST
John Taylor, former intermediaries marketing director at Scottish Widows, joined the National Employment Savings Trust today.
Aviva set to post shock £3bn loss - reports
Insurance giant Aviva is likely to shock the City when it posts a £3bn loss in its full-year results this week, the Sunday Times reports.
Friends Life launches auto-enrolment package
Friends Life has launched its auto-enrolment offering for employers.
Short-termism poisoning pension fund returns, MPs told
Fund managers' and pension funds' dedication to pursuing short-term investment goals is causing severely reduced returns, a panel of MPs heard.
ABI annuity code of conduct 'must go further'
The mandatory code of conduct on retirement choices for all Association of British Insurers (ABI) members, set to be enforced from 1 March, must go further to better help consumers, annuity campaigners have said.
King votes for more QE for first time since July
Bank of England governor Mervyn King voted to increase quantitative easing by a further £25bn at February's Monetary Policy Committee meeting, latest minutes reveal.
Pension reforms mean it will pay to save... eventually
State pension changes will work with automatic enrolment rules to ensure it actually 'pays to save' for retirement, the pensions minister has said.
Altmann steps down from Saga top job
Ros Altmann is to step down from her post as director-general of Saga.