Watch out for Brexit scammers, says UK financial regulator November 8, 2018 Scammers might seek to take advantage of uncertainty around Brexit to trick unsuspecting Brits, the Financial Conduct Authority (FCA) warned today. The regulatory said consumers should beware of unexpected calls, emails and text messages, and told consumers never to hand over their debit card pins. The warning came as part of a notice advising consumers [...]
The government is finally turning its attention to the housing crisis, but what’s missing? November 8, 2018 There's no question that the housing market is in need of drastic reform. So it was welcome news last week when the chancellor announced that the government was turning its attention to reforming the supply side of the market through a £500m Housing Infrastructure Fund and British Business Bank guarantees for SME house builders. In broader terms, there seems to [...]
Returns from peer-to-peer lending look attractive, but is it a sensible sector to invest for retirement? November 1, 2018 Peer-to-peer lending (P2P) has long been deemed by many professionals in the conventional investment industry as too risky for retail investors. And yet, this technology driven form of lending has surged in popularity over the past decade, which is largely a result of the sector offering a decent return where other asset classes have struggled. [...]
Lloyds Banking Group could face £150m pensions hit after court ruling October 26, 2018 Lloyds Banking Group could have to pay out up to £150m after the High Court ruled today that it should equalise payments for male and female members of its pension scheme. Three female members of the pension scheme had complained they were being discriminated against as their pensions increased at a lower rate than that [...]
Seven top tips if you want to retire early October 24, 2018 Picture this: a life of lie-ins and long holidays – all when you’re still spritely enough to enjoy the free time. For many of us, the prospect of retiring early will seem like a pipe dream. It’s true that there is no magic formula – whether you can afford early retirement is usually a question [...]
Moneysupermarket boosts revenue despite falling insurance premiums October 12, 2018 Price comparison website Moneysupermarket has reported an increase in revenue in its latest trading update, despite falling insurance premiums. Insurance revenues grew by two per cent to 48.7m, while revenues in its money division jumped seven per cent to 21.8 per cent in the three months to the end of September. Read more: Insurance giant makes a [...]
BT pension scheme appoints Now Pensions founder Morten Nilsson as chief exec October 9, 2018 The BT Pension Scheme today appointed the founder of Now Pensions Morten Nilsson as its new chief executive. BT Pension Scheme Management (BTPS) said Nilsson will take up the role immediately and report to the firm's chairman of the board of trustees, Paul Spencer. The telecoms giant's pension is one of the largest defined benefit [...]
Legal & General completes £2.4bn buy-out of folded telco’s pension scheme October 8, 2018 Insurer Legal & General has today finalised a £2.4bn buyout of the Nortel Networks UK Pension Plan, nearly a decade after its telecommunications sponsor collapsed, forcing it into the lifeboat. The deal will see the benefits of 15,500 pensioner members and 7,200 deferred members protected. It is the UK's joint second largest ever pensions buyout, matched [...]
Frank Field slams financial regulator over delay to pension advice fee decision October 4, 2018 Influential MP Frank Field has slammed the financial regulator for delaying a decision on whether to ban a model of charging for pensions advice which is believed to have driven mis-selling to thousands of retirees. The Financial Conduct Authority (FCA) said it sought views on whether to ban contingent charging – where a pension adviser [...]
New rules to improve standards of master trust pensions forces 30 schemes out of market October 1, 2018 New rules which have come into force today aimed at improving standards with master trust pensions have led to 30 schemes leaving the market. From today, master trusts, schemes which bring pensions held by multiple employers under the same board of trustees, will need authorisation from The Pensions Regulator (TPR) to ensure they meet new standards [...]