EU referendum: With the referendum on UK membership of the EU set for 23 June 2016, and the potential for a so-called Brexit looms, this is how UK pensions law could be affected March 13, 2016 Crystal-ball gazing regarding a potential Brexit is notoriously tricky business and must be caveated with an appropriately large health warning. How a Brexit might look in reality is currently unclear, as the terms of such a departure are up for negotiation. If the UK opted to remain part of the single market, it is likely [...]
UK financial services risks a mis-buying scandal unless we urgently tackle the advice gap March 11, 2016 It's well known that Britain has a financial advice gap, but until now few ideas have been put forward to tackle it. The government’s Financial Advice Market Review is a golden opportunity to solve this issue and deliver real solutions that help consumers access financial advice when they need it most. The initial recommendations are [...]
Just Retirement and Partnership Assurance £1.6bn merger approved by UK regulators March 10, 2016 Pensions heavyweights Just Retirement and Partnership Assurance have received approval for their £1.6bn merger from financial regulators. Both the Financial Conduct Authority and the Prudential Regulation Authority have given approval to the all-share merger, which was agreed in August last year. Plans to merge the annuities companies came in the wake of pension reforms announced in March 2014, after [...]
FTSE 100 has a muted start as investors await European Central Bank big reveal March 10, 2016 The FTSE 100 made a muted start to trading today, as investors nervously awaited a big reveal from the European Central Bank's Mario Draghi, who is expected to take rates further into negative territory later today. The FTSE 100 edged down 0.1 per cent in early trading, as economists expected Draghi to cut the central bank's deposit rate [...]
Why equity crowdfunding platforms must take due diligence more seriously March 10, 2016 The growth of equity crowdfunding has been spectacular. It has delivered the kind of shot in the arm for the funding of small businesses that policymakers have been seeking for decades. And what is particularly interesting is that crowdfunding has done this without two components that most investors view as vital before they invest: proper [...]
Meh: FTSE 100 edges up as investors await a glitter bomb from Mario Draghi – but Burberry share price leads the fallers March 9, 2016 The FTSE 100 had an uncharacteristically relaxed day of trading today, edging up 0.41 per cent to finish at 6,174.8 points. The lacklustre performance came as investors held their breath in anticipation of a potential bombshell from the European Central Bank (ECB) chief tomorrow: it is hoped Mario Draghi will cut the bank's deposit rate by at [...]
Buy when there’s blood on the floor: The market chaos of January and February has created a buying opportunity March 9, 2016 There was much to concern investors in the first two months of 2016. Chinese growth has slowed further, and the renminbi devaluation has kept investors nervous that there is a more intense currency war ahead. Commodity prices have remained under pressure, with oil prices hitting the lowest levels since 2003. Closer to home, investors have [...]
UK pensions: Public opinion on how pensions should be taxed is divided, but experts agree that better education on the topic could encourage people to save more March 9, 2016 Pension experts were pretty vocal about what possible changes chancellor George Osborne could have made to pensions at next week's Budget, but the public at large is more conflicted in its feelings, research published today has found. According to a study by professional services firm PwC, 42 per cent admit that they have no clue [...]
UK pensions: Six million people have been auto-enrolled into a workplace pension since the rules were introduced in 2012 March 8, 2016 The Pensions Regulator had a reason to celebrate today, as it revealed that the number of people saving into a workplace scheme as a result of auto-enrolment has now passed the six million mark. Since the scheme started being rolled out in 2012, more than 100,000 employers have enrolled staff. "It is brilliant to see [...]
UK pensions: Has chancellor George Osborne missed an opportunity by saying he won’t reform the pensions system at the Budget on 16 March and what might he do instead? March 8, 2016 It is with relief that we welcome the chancellor’s turnaround, in choosing not to radically change the basis of pension taxation in the Budget on 16 March and in particular not to introduce pensions Isas. However, there are other rabbits that he could pull out from his hat. At current levels of auto-enrolment contributions (2 per cent of earnings rising [...]