UK government suffers setback in triple lock suspension plan
But is ‘certain to use its comfortable majority in Commons’ to overturn House of Lords amendment
AJ Bell
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HMRC refunds £800m in overpaid pension freedoms tax
Industry hopeful that move to digital portal will reduce overcharging
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UK retirees to get ‘third biggest increase’ in state pension
But 3.1% uplift in the 2022-23 financial year ‘may fall short’ of cost of living rises
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Investors turn back on UK equities for growth and tech funds
Lack of retail interest in asset class ‘is interesting as it goes against’ the institutional market
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Decade of triple lock increased value of state pension by 35%
But next year marks the first time the rise will not be in line with the model
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Cost of pension tax relief hits £41bn
But this is ‘no excuse’ for the chancellor to raid it in the upcoming budget
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UK watchdogs team up to gauge value for money in DC pensions
Proposals will help consumers ‘challenge providers’ and ‘allow better comparisons between products’
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Pound in your pocket just got lighter
After inflation hits record 3.2% in August
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FCA review of DB redress guidance is a ‘sensible measure’
Firms should ‘assess complaints about unsuitable advice fairly, consistently and promptly’
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PEOPLE MOVES: Pictet, Zurich, AJ Bell
Wealth manager hires CEO for UK, while insurer names group chief strategy officer
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Advice firms reveal investment platform ownership aspirations
But it is not for the ‘feint hearted’
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PEOPLE MOVES: IW&I, AJ Bell, Friends Provident International
UK wealth firm names CIO, while investment platform appoints deputy chief executive