Savers should plump for cash over shares, study says June 15, 2016 Savvy savers should opt for a best buy cash savings account over a FTSE 100 tracker, according to new research which challenges conventional wisdom. The study by financial journalist and BBC Money Box presenter, Paul Lewis, found that this type of savings account beat the tracker in 57 per cent of 192 five-year periods starting each month from 1 January [...]
Former Standard Life director in line for top governance position at Woodford’s fund June 14, 2016 Neil Woodford, the star City investor, is set to name ex-Standard Life director Marcia Campbell as the next chair of its oversight board. Campbell – who held various roles at Standard Life over the course of two decades, including running its operations in the Asia-Pacific region – will replace Mary Reilly, who has beenin the job since the position was created in 2014. [...]
It’s time to bring retirement into the twenty-first century June 14, 2016 Few words can stop a conversation as quickly as “retirement”. Many of us can hardly bear to think about it, never mind talk about it. Others – just under half, according to our latest Investor Pulse survey – do save for old age, but with no confidence we’ll get the income we want at the [...]
Scottish Widows reveals £630m bulk annuity buy-in deal with the ICI Pension Fund June 14, 2016 Scottish Widows announced today that it has secured a £630m buy-in with the ICI Pension Fund. The buy-in, which is essentially an insurance policy deal for pension benefits and will cover over 4,000 of the fund’s pensioner members, is Scottish Widows' largest external bulk annuity transaction to date. "We are delighted to have been chosen by the trustee of the [...]
Total deficit on pension schemes eligible to board the pensions lifeboat grew by more than £20bn in a month June 14, 2016 It could be a tight squeeze to board the pensions lifeboat, as figures released today revealed that the total deficit value of the schemes eligible to join increased by more than £20bn in a month. The latest PPF 7800 Index figures, which keep track of the funding position of the defined benefit (DB) pension schemes eligible for [...]
Before the bell: What you need to know before the US market open June 14, 2016 Brexit fears are dragging down markets and Germany's 10-year bond yield has turned negative. Here's what you need to know before the market open at 14:30 London time. US futures are pointing down again today, suggesting the bad start to the week is going to continue. The S&P is off by 0.22 per cent. The Nasdaq is 0.26 [...]
At the close: FTSE 100 sinks as Brexit fears send sterling to two month lows June 13, 2016 Resource stocks made up the majority of only a handful of risers on the FTSE 100 today as investors fretted over Brexit and sterling took a beating. The FTSE 100 closed at 6,044.97 – down 1.16 per cent on the day – and at its lowest level in three months. In March it was trading as low as 6,036, though had [...]
LV calls on government to make financial guidance at retirement age compulsory June 13, 2016 One financial services company has today called on government to make the provision of guidance to those reaching retirement compulsory. Revealing how it had responded to a Treasury consultation, LV warned that the introduction of the pension freedoms rules had made it increasingly difficult for people to assess how to handle their money during their [...]
This is why the UK is facing a time bomb of retirement woes June 13, 2016 Longer lives have combined with scant savings to put the UK on the road to pensions chaos, one financial advisory firm has today warned. Chase de Vere notes life expectancy has increased substantially in recent years, with Office for National Statistics showing the average life expectancy for a 65-year-old man has increased 29 per cent over the last [...]
Before the bell: What you need to know before the US market open June 13, 2016 China's decelerating economy is causing fresh concern across international markets and the International Monetary Fund isn't helping. Here's what you need to know before the US market opens at 14:30 London time. The US market is pointing heavily south ahead of the open. The S&P 500 is down by 0.31 per cent in the pre-market. The Nasdaq [...]