A group of City heavyweights with a track record in pensions and institutional investment has launched a new financial advisory firm called City Noble, which aims to deliver impartial advice to trustees and institutional investors.
Standard annuity rates have fallen to an all-time low, just three weeks after the new UK pensions regime came into force.
Independent financial services group London & Colonial has launched a new flexible SIPP which gives savers greater choice of investments and more drawdown options.
The Association of International Life Offices (AILO) has launched a free guide on investing in cross border life assurance policers to help individuals approaching retirement age make decisions about how to use their pension pots.
Canada Life said about 75% of the customer calls it has received since the UK pension reforms came into effect on 6 April have been from individuals who want to cash in their pension pots.
The Financial Ombudsman Service (FOS) has upheld complaints from four individuals who claimed they had been given “unsuitable advice” to transfer their pension savings into troubled overseas investment scheme, Harlequin.
The Chartered Insurance Institute (CII), a leading professional organisation for the insurance and financial services sector, has launched a new programme to help financial planners get up to date with the latest UK pension reforms.
Major UK pension providers have reported a surge in customer inquiries following the new rules governing access to their savings with most seeking to drawdown some of their cash.
A code of good practice for combating pension scams has been released by a UK industry group, with additional consultation coming from the QROPS sector.
Fears that unregulated financial advisers will step up the marketing of unsuitable products following the introduction of UK pension freedoms next week are growing.
Canada Life will launch three retirement income products to allow individuals to take advantage of the pension freedoms available from 6 April.
Suitability standards in the asset management industry are set to come under Financial Conduct Authority scrutiny in 2015/16, the regulator said in its business plan for the period.
