More UK pension trustees to be hit with higher penalties
The Pensions Regulator is stepping up how it uses its enforcement powers, which includes financial penalties, and expanding who it considers to be a professional trustee.
Pension
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Pakistan’s private pension funds assets up 32%
Pakistan’s private pension fund industry grew over 32% in the fiscal year ending in June 2017, with total assets under management rising to PKR25bn (£180.8m, $234.4m, €199.6m), data released by the Securities and Exchange Commission of Pakistan (SECP) shows.
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FCA reveals 8 firms rapped for pension transfers last year
The Financial Conduct Authority has confirmed that it took action to stop eight UK firms, including deVere and Holborn, conducting and/or arranging overseas pension transfers in the last financial year but has declined to name them all.
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Gay man wins for equal pension rights in landmark UK court case
The UK Supreme Court has ruled that same-sex couples have the same rights to pension death benefits as heterosexual couples in a landmark case involving a final salary scheme.
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Five things you need to know about Qnups
For years, qualifying non-UK pension schemes (Qnups) have been seen as a niche product relegated to the realms of ‘aggressive tax planning’, says Martin Hall, director of Isle of Man-based pension provider Optimus. Here he reveals five reasons why it’s time for advisers to re-evaluate their position.
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Woman fined for not helping in £13m pension scam probe
An office manager of a firm currently under investigation by the UK’s Pensions Regulator (TPR) for running a suspected £13m (€14.7m, $16.8m) pension liberation scam has been convicted of withholding information.
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UK the top exporter of insurance and pensions worldwide
Britain is the world’s leading exporter of insurance and pension savings products, selling £13bn (€14.7bn, $16.8bn) to the rest of the world, according to latest figures released by the Association of British Insurers (ABI).
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UK watchdog throws out Qrops case against Hargreaves
The UK’s Financial Ombudsman Service (FOS) has rejected a complaint against Hargreaves Lansdown after a client accused the platform provider of unnecessarily delaying a transfer of his pension into a Qrops.
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UK expats in EU offered pension ‘triple-lock’ and healthcare
The British government has announced it will maintain reciprocal healthcare rights and the ‘triple lock’ on pensions for the 1.2 million UK citizens currently living in the EU.
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Up to £50bn pulled from DB schemes in pension transfers
The amount of money being withdrawn through transfers from defined benefit (DB) pension schemes in the UK has reached a record £50bn since the pension freedoms came into force, according to new figures released by professional service group Mercer.
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UK pension investments jump by over third in Q1
New pension investments in the UK were up by more than a third in the first three months of 2017, according to new figures by Equifax Touchstone.
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Ex-footballer Shearer in court over negligent financial advice
Alan Shearer is taking legal action against his former financial adviser after being given what he claims was negligent financial advice related to pension investments.