DeVere set for aggressive UK expansion
International advice firm deVere has announced plans to “aggressively develop” in the UK and capitalise on the area’s improving economy and pension changes.
Pension
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FCA issues warning over surge in scams
The UK’s financial watchdog has warned consumers to look out for a surge in pension scams as next month sees the introduction of full flexibility on retirement pots.
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UK govt kicks off annuity sale market
The UK governments last budget before the election revealed plans to extend its pension reforms to allow existing annuity holders to sell their contracts from 2006, offered a range of new incentives to save and tightened rules on tax avoidance.
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Ringing in the pension changes FPI
The UK Taxation of Pensions Act 2014 paves the way for the implementation of radical changes to the UK pensions tax regime. Technical services manager at Friends Provident International, Brendan Harper, asks are you ready?
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Phoenix prevents 8m theft pension liberation
Jersey-headquartered life insurer, Phoenix Group, said potential fraudsters attempted to steal £8m of clients’ pension savings last year.
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FSCS lays down £20m levy
A surge in complaints about bad SIPP advice has led the Financial Services Compensation Scheme to lay down a £20m interim levy on life and pensions intermediaries.
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Tax free lifetime allowance cut to £1m
The UK government is planning to cut the lifetime limit for tax-free pension saving to £1m from £1.25m, along with a series of measures designed to trigger a savings revolution.
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Life companies welcome UK annuity resale plans
UK life companies have cautiously welcomed an announcement by UK chancellor George Osborne to give up to five million current pensioners the right to swap their annuities for cash in this week’s budget due on Wednesday.
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Industry giants rally combat savings crisis
A group of 150 financial companies are pushing for a “savings minister”, an overhaul of pension tax relief, and the development of a digital passport to tackle an emerging savings crisis.
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Annuity resale plans reportedly in discussion
Millions of UK pensioners may be granted the ability to sell their existing annuities for cash as ministers serious consider introducing the flexibility in next weeks Budget, the Financial Times reports.
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Pension industry jointly responsibile for clients
There is a new and clear division of responsibility in the UK between consumers, the pensions industry and government policy makers coming into effect after 6 April that is a long way from the current system, the Financial Conduct Authority said.
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STM pensions arm soars
Multi-jurisdictional financial services provider STM Group saw its pensions division grow by 36% last year which it claims to be driven by 150% growth in its Gibraltar QROPS revenue.