UK - A trade union has called on the Conservative Party to clarify its policy on retrospective compensation.
The ISTC fears the Tories may be “playing politics with people’s pensions” after they failed to confirm whether they will support an amendment on compensation during the third reading of the Pensions Bill.
The ISTC points out the Tories had supported an amendment tabled by Labour MPs during the Pensions Bill standing committee which proposed using taxpayers’ money to compensate workers.
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MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.