Pension
United Kingdom | 19 Mar 15
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.
Retirement | 18 Mar 15
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.
United Kingdom | 16 Mar 15
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.
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.
Retirement | 12 Mar 15
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.