Greater demand for drawdown has helped compensate for significant losses in annuity broking business at Hargreaves Lansdown.
Annuity income dropped from £7.7m to £4.7m for the year to 30 June, compared to a 35% surge in new assets into drawdown. The firm attributed this trend to the Budget reforms. Chief executive Ian Gorham...
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.