UK insurer Prudential has moved closer to securing a tax refund worth more than £100m ($143.4m, €126.5m) from HM Revenue and Customs (HMRC) in a long-running dispute over claims the tax office broke EU rules.
More than two-in-five (41%) pensioners regret some of the decisions they made before and after their retirement, which have left them struggling financially, according to Prudential.
Changes to UK pension rules, implemented a year ago, have boosted the retirement confidence of over a third (34%) of those retiring in 2016. As a result, nearly a third (31%) are more likely to seek financial advice, indicating a future win for retirement planners.
Financial services firms in the UK received 2.11 million new complaints between July and December 2015, a decrease of 1.4% compared with the previous six months, according to the Financial Conduct Authority.
Nearly two thirds of UK seniors planning to retire this year are doing so earlier than their state pension age or before their company pension retirement date, according to new research published by Prudential.
Prudential’s Asian investment management arm, Eastspring Investments, has opened up a Luxembourg Ucits Sicav for distribution in France.
Despite a challenging economic environment, Prudential ended 2015 with new business sales up 17%, helped by a 26% growth in its Asian operations.
The UK’s Financial Conduct Authority has raised concerns over the transparency of exit and penalty charges found in the closed-book life insurance policies of six insurance firms, including Old Mutual and Prudential.
As part of its 2016 bonus declaration, Prudential has announced that the sterling tranche of its International Prudence Bond (IPB), an offshore bond sold to UK expats, has grown 6.7% in year-on-year terms since it was launched 14 years ago.
We’re now in the second month of the year and corporate musical chairs doesn’t appear to be slowing. In fact, opening International Adviser’s mailbox each morning to a slew of appointments, promotions, and departures is beginning to feel a bit like Groundhog Day.
Some of the biggest firms in the finance industry announced significant people moves this week; with Prudential naming a chief executive, HSBC GAM making two chief executive appointments in Asia, and JP Morgan promoting a new head of retail in China.
Those in the UK planning to retire in the next 12 months expect to receive an annual income that is 4% higher than their peers who planned to retire in 2015, according to Prudential.
