Industry News

Special Report: End of Tax Year Planning

Tuesday 6th March 2012

Money Marketing and Technical Connection sets out a game plan for tax-saving opportunities as the end of the tax year looms.

FSA provides situational guidance on commission rules

Wednesday, November 16 2011 - 12:31pm

The Financial Services Authority (FSA) has published a consultation paper: Distribution of retail investments: RDR Adviser Charging - treatment of legacy assets, that provides guidance on which situations will be affected by the post-RDR ban on legacy commission. 

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Pensions Bill receives Royal Assent

Friday, November 4 2011 - 11:30am

The Pensions Bill 2010/11 has become the Pensions Act 2011 after receiving royal assent.

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Investors back green investment policy

Tuesday, October 18 2011 - 5:15pm

Three investor groups - The Investor Network on Climate Risk (INCR), the European Institutional Investors Group on Climate Change (IIGCC), and the Investors Group on Climate Change (IGCC) are leading an initiative urging global policy makers to encourage green investment.

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More women saving adequately for retirement

Tuesday, November 1 2011 - 5:08pm

The proportion of women saving enough for retirement has increased to 50% according to the Scottish Widows Women in Pensions Report. This is a rise from the 2010 figure of 43%.

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NAPF says 1/3 will opt out of auto-enrolment

Thursday, October 20 2011 - 11:03am

The National Association of Pension Funds (NAPF) has polled 500 people to find that one in three are unlikely to remain in a workplace pension when they are auto-enrolled.

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Pensions Bill passes third reading

Thursday, October 20 2011 - 10:25am

The Pensions Bill which covers introducing auto-enrolment from 2012 and raising the state pension age to 66 by 2020 for both men and women has passed its third reading in the House of Commons. The Bill received 287 votes to 242.

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Investors back green investment policy

Tuesday, October 18 2011 - 5:15pm

Three investor groups - The Investor Network on Climate Risk (INCR), the European Institutional Investors Group on Climate Change (IIGCC), and the Investors Group on Climate Change (IGCC) are leading an initiative urging global policy makers to encourage green investment.

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SPA increase delayed by 6 months

Monday, October 17 2011 - 10:44am

The government has announced that the planned State Pension Age increase in 2020 will be delayed by six months.

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Government considers auto-enrolment extension

Wednesday, October 5 2011 - 17:09pm

Policymakers have expressed concern that auto-enrolment may stifle the growth prospects of small firms and are considering taking action to limit the impact.

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IFP hands out accredited financial planning status

Tuesday, October 4 2011 - 11:09am

The Institute of Financial Planning (IFP) has begun to recognise firms that have met notably high standards in financial planning with the title 'accredited financial planning firm'. IFP will announce the first 25 firms to achieve the status later this week.

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Recession affects women's contributions

Tuesday, September 27 2011 - 2:57pm

Findings from the Friends Life Workplace Savings Index show that women's contributions to occupational schemes reduced by 5% in real terms over the last 12 months, reflecting the impact of the recession on saving habits.

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Webb puts pension consolidation in the spotlight

Tuesday, September 20 2011 - 3:43pm

Speaking at the Liberal Democrat Conference today, pensions minister Steve Webb announced that proposals will be put together to reform the rules surrounding small pension pots.

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Platforms stress need for adviser due diligence

Thursday, August 25 2011 - 5:23pm

FundsNetwork, Novia and Transact have stressed the importance of advisers undertaking due diligence on funds held on platforms.

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Fee-based advisers hard to find online

Tuesday, August 23 2011 - 5:14pm

Only 2.3% of IFAs advertise themselves as 'fee-based' or 'fee-only' on their own websites, according to research by VouchedFor.co.uk.

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DWP clarifies maternity pension rules

Tuesday, August 23 2011 - 4:51pm

In response to confusion over whether employers are required to pay pension contributions for workers on maternity leave, the DWP has clarified the guidelines.

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Industry e-petitions gain increasing support

Friday, August 19 2011 - 5:29pm

This week has seen rapidly rising support for two recently launched e-petitions. One has been set up to call for pension indexation to be returned to the Retail Prices Index (RPI), while another urges the Government to make financial education compulsory in schools.

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Pensions see record share dealing

Friday, August 19 2011 - 4:51pm

Record volumes of share dealing have been reported in August by pension providers as investors take advantage of falling markets.

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1 in 3 company pensions risks last-minute drop

Wednesday, August 17 2011 - 10:21am

Press reports in The Daily Mail and ifaonline.co.uk have suggested that up to a third of company pensions put savers at the mercy of the stock market just before retirement.

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Pension income takes double hit from September

Tuesday, August 16 2011 - 4:07pm

Pensioners in drawdown who are facing their five-year review in September could be in for a shock. A combination of falling markets, falling gilt yields and Government reforms could see the income they have been drawing for the past five years halved.

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More than 18,000 could lose enhanced protection

Thursday, August 11 2011- 12:54pm

AJ Bell has obtained figures from a freedom of information request which suggest that over 18,000 pension savers could stand to lose enhanced protection on their pension benefits come auto-enrolment.

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Fixed protection window now open

Wednesday, August 10 2011- 4:48pm

HMRC have now published the application form for fixed protection which relates to the new Lifetime Allowance for pension contributions. Applications close on 5 April 2012, leaving a short window to apply.

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Market highlights importance of portfolio diversity

Tuesday, August 9 2011 - 4:24pm

The effect of the recent market downturn on pension savings has highlighted the importance of a diverse portfolio.

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TPAS reports fall in pension complaints

Monday, August 8 2011 - 12:53pm

The Pensions Advisory Service (TPAS) has reported that complaints to TPAS have fallen by 22%. Meanwhile, queries from employees and employers about auto-enrolment are rising and now make up 3% of monthly calls.

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DWP unlikely to cap pension scheme charges

Friday, August 5 2011 - 11:56am

The Department of Work and Pensions (DWP) seems unlikely to heed Lord John McFall's recommendation to cap pension charges for auto-enrolment.

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Providers push simplification of in specie transfers

Wednesday, August 3 2011 - 4:48pm

A number of providers have stressed the need to simplify in specie transfers between different savings vehicles in a letter to the Treasury after it promised to support simpler, more flexible workplace savings.

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IFP hopes to grow influence after AIFA's expansion

Tuesday, August 2 2011 - 4:40pm

The Institute of Financial Planning (IFP) plans to grow its influence on the FSA and focus on representing financial planners following the announcement that AIFA is to accept restricted advisers as members.

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Capital adequacy rules delayed until 2015

Monday, August 1 2011 - 5:04pm

In order to give firms more time to prepare for RDR, the FSA has delayed its introduction of capital adequacy rules for financial advisers by two years.

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FSA committed to cash rebate plan

Monday, August 1 2011 - 4:12pm

The FSA has delayed a final decision on cash rebates pending more research, but remains committed ultimately to a ban.

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Tax could be paid direct from pension pots

Friday, July 29 2011 - 10:17am

HM Revenue & Customs (HMRC) is considering proposals to allow tax to be deducted directly from the personal pension pots of high earners who have exceeded the pension contribution limit.

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Treasury makes U-turn on RPI-linked annuities

Thursday, 29 July 2011 - 2:22pm

The treasury has reversed plans to prevent savers using RPI-linked annuities without a floor to meet the minimum requirements for flexible drawdown.

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Auto-enrolment tools for small businesses

Thursday, 28 July 2011 - 1:42pm

Interactive online tools have been released by The Pensions Regulator to help small businesses prepare for auto-enrolment.

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Pensions industry backs flat rate state pension

Wednesday, 27 July 2011 - 2:05pm

More than three-quarters of respondents to a government consultation on reforms to the state pension have backed the proposal to introduce a £140-a-week flat rate state pension from 2015. Respondents included businesses, defined benefit schemes, pensions administrators and trustees, the voluntary sector and the public.

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AIFA opens membership to restricted advisers

Wednesday, 27 July 2011 - 12:21pm

AIFA has today confirmed plans to allow restricted advisers to join the trade body. The controversial decision follows a strategic review that began in December and will involve a rebrand of the association.

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