PFS calls for crackdown on ‘worrying’ unregulated activity
The Personal Finance Society has demanded stricter controls on non-regulated savings and investments to prevent “scammers” from taking advantage of UK consumers.
The Personal Finance Society has demanded stricter controls on non-regulated savings and investments to prevent “scammers” from taking advantage of UK consumers.
DeVere’s chief executive has continued the sale of his shares in QROPS provider STM, reducing his stake to just 6.7% from the 24% he purchased in 2012.
Of those people in the UK who are planning to retire this year, 15% have no pension savings, research from Prudential has revealed.
The UK pension reforms have caused the demand for financial advice to rise significantly, according to Old Mutual Wealth.
Old Mutual International, which rebranded from Skandia International last December, has reported a strong pick up in business for the first quarter of 2015.
Experts across the Qualifying Recognised Overseas Pensions Scheme industry have welcomed the appointment of Ros Altmann as the United Kingdom’s new pensions minister, with many hoping she will introduce a sea change to the way expats are advised.
The rapid introduction of more affordable financial advice should top the agenda of the new Britain’s new pensions minister Ros Altmann, according Phil Loney, group chief executive the UK’s largest mutual life and pensions company Royal London.
The surprise majority victory by the Conservative Party in the UK general election could mean changes to inheritance tax rules and tax relief on pensions are more likely, though initially for most financial advisers the outcome simply means business as usual.
Axa Wealth International has seen funds under management grow by nearly £0.5bn throughout the first quarter of 2015, as the wider Axa Wealth group records across-the-board growth.
Overseas pensions in Australia and New Zealand could lose QROPS status after a letter sent by HM Revenue & Customs forced all schemes to ensure that policyholders can only access benefits before the age of 55 in the same circumstances as a UK pension.
Global consultancy firm, Mercer, has seen a 60% increase in the number of people wanting to know the value of their defined benefits (DB) pension scheme, driven by the introduction of the UK pension reforms on 6 April.
UK-based life and pensions advisers are going to be hit with an annual levy that will almost double what was forecast in the Financial Services Compensation Scheme’s plan and budget.