Royal London policyholders will be receiving offers for their guaranteed annual return pension schemes after the UK High Court, in principle, signed off on the provider’s plan to cash out savers.
The UK’s Personal Finance Society has formed a taskforce to help provide strategic leadership and a voluntary code of professional standards for pension advice.
As the desperate search for yield pushes investors unnecessarily up the risk spectrum, investors should put their money in accumulation share classes for retirement income , according to Royal London Asset Management (RLAM).
Royal London is worried pension holders are “throwing away” their guaranteed annuity rate (GAR) under the new pension freedoms and it wants to offer them cash for the promised return.
HM Revenue & Customs knew its pension tax calculator was giving incorrect data to users, but only pulled it once Royal London’s director of policy publicly slammed the tool.
Pension experts have welcomed the clarity the Financial Conduct Authority (FCA) has established for defined benefit (DB) pension transfers through its updated rules. But they warn further, lengthy, consultation may not be the best way to address issues of poor practice that have come to prominence in recent months.
HM Revenue & Customs has responded to a claim it is “out of control” by over-taxing people and then expecting them to claim it back.
HM Revenue & Customs has handed back just under half a billion pounds to individual taxpayers since April 2015, which Royal London says shows the organisation is “out of control” when it comes to over-taxing people and then expecting them to claim it back.
A UK budget measure aimed at corporates will eat into people’s savings, a government letter has revealed.
Jersey finance promotes internally to fill Corrigan’s departure, T. Rowe Prices adds to its multi-asset team, State Street expands equity index group in Asia, and former French prime minister François Fillon goes into investment management.
Those who received financial advice in the 2001-2007 period had accumulated significantly more liquid financial assets and pension wealth than their unadvised equivalent peers by 2012-14, a report by the UK think tank International Longevity Centre supported by Royal London has found.
Despite a murkier outlook for global inflation, there could be “positive surprises” ahead which make inflation-linked bonds an attractive diversifier, Fidelity International says.
