News

The BBC has seen its scheme shortfall rise by more than a billion pounds after a 10% increase in liabilities cancelled out £170m in deficit recovery contributions.

Fidelity Worldwide Investment has launched a shopping around tool with Annuity Direct to help people use the open market option.

Royal Bank of Scotland chief executive Stephen Hester has emerged as the frontrunner to fill the vacant chief executive position at Barclays.

Prudential has seen a significant decrease in corporate pensions sales but said this is countered by a sales boost in individual annuities and with-profits.

Barclays has confirmed Sir David Walker will succeed Marcus Agius as chairman of the bank on 1 November.

The Financial Services Authority will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual trades, it has been reported.

HM Revenue and Customs has told providers to use men's drawdown rates for all drawdown users from 21 December 2012.

Technology provider GBST has been selected by Fidelity to provide its administration and registry software.

The Financial Services Authority has issued a public censure of City Gate Money Managers and banned its director and compliance officer Stewart Wallace Domke over pension transfer business.

Insurer Aviva recorded a loss after tax of more than £680m in the first half of the year, after writing down some £870m of goodwill at its US business.