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The government borrowed the smallest amount of money from markets in May since 2005, falling by £2bn, compared with last year when borrowing reached £5bn in May, according to the latest figures from the Office for National Statistics
22/06/2018
The latest figures from UK Finance revealed that almost £25m worth of fraud has been prevented, while 197 arrests have been made, thanks to the introduction of the Banking Protocol, a scheme aimed at identifying and protecting potential fraud victims when they visit a bank or building society branch
22/06/2018
The banking sector has emerged with the best defined benefit pension deficit in the FTSE 100, research from Barnett Waddingham has found
21/06/2018
Later life advisers have the opportunity to broaden their range of services to clients reaching, or in, retirement from a “silo approach” to “an ensemble” proposition in order to cover a much wider range of needs, according to PFS business development director Tony Miles
21/06/2018
Despite 61% of UK adults having saved over £1,000, almost one in four are reluctant to invest their personal savings, according to new research from Oaksmore ISA, with savers opting to leave their funds in bank accounts which attract little or no interest
21/06/2018
The Financial Reporting Council (FRC) has excluded Russell McBurnie, the former Finance Director of RSM Tenon Group (RSM Tenon), from the accountancy profession for a recommended period of five years
21/06/2018
The vast majority of these are likely to be people quitting guaranteed defined benefit schemes in favour of more flexible defined contribution plans
21/06/2018
The average death in service benefit would leave Brits an average £67,678 shortfall on their mortgage
21/06/2018
AJ Bell is urging the government to exempt pensions and ISAs from inheritance tax (IHT) as part of a drive to simplify the UK savings landscape
21/06/2018
A trustee of the Optimum Retirement Benefits Plan has been suspended by The Pensions Regulator after police launched an investigation into pension fraud
20/06/2018
Almost half, 48 per cent, of final salary pension holders have voiced their interest in releasing equity in their home to boost their retirement savings, while 27 per cent of personal pension savers would do the same, Hoxton Capital Management has found
20/06/2018
UK taxpayers who fail to disclose offshore income or gains, either by failing to notify HMRC of their chargeability to UK tax, failing to deliver a tax return or by submission of an incorrect tax return will face imprisonment and swinging penalties, Blick Rothenberg has said
20/06/2018
Two million defined contribution savers that received and read their annual statement said they did not understand it, according to the Financial Conduct Authority, with many savers displaying a vulnerability to financial harm
20/06/2018
Nearly six in ten UK adults have no cash savings or savings of less than £5,000, according to the FCA’s recent Financial Lives Survey
20/06/2018
Lloyds Banking Group and consultancy firm KPMG came under renewed pressure yesterday following the publication of a report into an historic fraud case at HBos’s Reading branch.

The internal report came from an ex-employee from within Lloyds Bank, and detailed allegations of criminal misconduct by senior bank employees and auditors surrounding the handling of the incident. According to the report, top executives at HBos understated the extent of liabilities left by the fraud to regulators and to shareholders ahead of the takeover of the bank by Lloyds in 2009, while also alleging serious misconduct by auditors KPMG
20/06/2018
Just a few days remain to enter the MoneyAge Awards 2018
20/06/2018
Just 11% of investors would use robo-advisers in the future, new research from IW Capital has revealed, with 11.9 million investors nationwide saying they do not/would not trust an online wealth manager to manage a proportion or all of their investable assets
19/06/2018
The owner of Clydesdale Bank and Yorkshire Bank, CYBG, has agreed to buy Virgin Money for £1.7bn
19/06/2018
Nine out of ten workers are ‘financially sleepwalking’ into retirement, new research has revealed
19/06/2018
The government is facing questions over how it will find the extra £20bn a year Prime Minister Theresa May has promised for the National Health Service.

The money is expected to come from a combination of increased government borrowing, freezing existing tax thresholds and higher taxes (assuming economic growth doesn’t vastly outstrip current expectations)
18/06/2018
Fintech is going to play a “hugely positive role” when it comes to increasing people’s engagement with their retirement savings, the Pensions and Lifetime Savings Association policy lead: engagement, EU and regulation James Walsh has said
18/06/2018
A total 13.2 billion card payments were made at the end of 2017, compared to 13.1 billion cash payments, therefore overtaking the latter for the first time, according to the latest UK Payments Market report
18/06/2018
Equitable Life is to shut down in 2019, with the closure of its With Profits Fund, which will
create an average windfall of £6,900 for policyholders
15/06/2018
Kent Reliance launches income backed BTL for limited companies and individual lending
15/06/2018
West One Secure Loans is now able to offer residential second charge mortgage products to borrowers whose main residence is located in mainland Scotland, the lender has announced
15/06/2018
Knowledge Bank has announced the launch of its new monthly criteria activity tracker to keep brokers and lenders up to date with criteria movements in the mortgage and loan sectors
15/06/2018
There was strong growth in remortgaging in April 2018, with new homeowner mortgages up 36% and buy-to-let remortgages up 32.4% compared to the same month a year earlier according to UK Finance’s latest Mortgage Trends Update
14/06/2018
Foundation Home Loans has increased its borrowing limits and reduced rates across its buy-to-let range, including products for limited companies and individuals with prior landlord experience financing a HMO
14/06/2018
The inheritance tax gap has grown to £600m in 2016/17, rising 50% from £400m five years ago in 2012/13, according to new statistics published by HMRC
14/06/2018
Almost one fifth of pension savers would opt for a “green pension”, with those under 30 twice as likely to choose the eco-friendly option than those over 50, PensionBee research has found
14/06/2018
Just one in five of people who are approaching retirement age are saving enough to maintain their lifestyle, according to research by Aegon
14/06/2018
Pensions Minister Guy Opperman has confirmed that the terminally ill are not permitted to access their state pension earlier than the set age
14/06/2018
Men are over twice as likely to have their pensions reviewed by a financial advice firm, according to research by Selectapension
13/06/2018
The Financial Reporting Council (FRC) has sanctioned PwC, along with one of its former audit partners, following an investigation into BHS’ 2014 audits
13/06/2018
Average house prices in the UK have increased by 3.9% in the year to April 2018, a decrease on the 4.2% figure released in March 2018, according to the latest UK House Price Index published by HM Land Registry and Office for National Statistics
13/06/2018
The UK mortgage market “boasted” substantial growth between April and May, with first-time buyers among the main beneficiaries, according to the latest Mortgage Monitor from e.surv
13/06/2018
Defined benefit (DB) transfer values as measured by the Xafinity Punter Southall (XPS) Pensions Group Transfer Value Index fluctuated during May 2018, with an overall rise throughout the month
12/06/2018
A recent Scottish Widows Retirement Report has suggested that those with multiple jobs are missing out on £90m of employer pension contributions because they do not meet the minimum wage threshold
12/06/2018
One in five UK landlords entered the world of buy-to-let unintentionally, finding themselves with a property “accidentally” or acquiring it through inheritance, according to the latest sentiment research from Foundation Home Loans
12/06/2018
HMRC has appointed director for customs and indirect tax Ruth Stanier as its new director general of customer strategy and tax design
12/06/2018
AJ Bell has recently launched a stocks and shares Lifetime ISA (LISA) for clients of financial advisers via the AJ Bell Investcentre platform, becoming the second adviser platform to offer a LISA
12/06/2018
NS&I has cut the savings limit on its one and three-year Guaranteed Growth Bonds and Guaranteed Income Bonds from £1m to £10,000, reported Hargreaves Lansdown
11/06/2018
Association of Account Technicians (AAT) has recently responded to the Office for Tax Simplifications (OTS) inheritance tax (IHT) review, stating that the tax is “widely misunderstood, unnecessarily complicated and that several exemptions should be scrapped”
11/06/2018
The UK’s largest public businesses may soon have to publish the gap between the pay of their chief executive and an average worker, with business secretary Greg Clark stating that all companies with over 250 employees will be required to disclose and explain this difference, known as the “pay ratio”
11/06/2018
Vida Homeloans has announced the expansion of its sales team, with three new key account managers who will report into Vida’s south sales manager Stewart Green
11/06/2018
Over the past couple of years, consumers have started relying more on technology to carry out their everyday banking activities, and to provide them with alerts and updates relating to their bank account, with UK Finance revealing that banks send over 16 text alerts every second
08/06/2018
A total of 77 per cent of advisers have said that they are spending more time and resources on the provision of retirement advice since the launch of the pension freedoms
08/06/2018
Royal Bank of Scotland (RBS) chief executive Ross McEwan yesterday hinted that bank will be able to resume paying dividends within just a few months
08/06/2018
Just 31 % of over 50s plan to consult a professional financial adviser for information on their retirement options, a significant fall from the 42% figure recorded last year, according to new research from Retirement Advantage
08/06/2018
ING announced that it is expanding its money management platform Yolt to France and Italy, allowing its French and Italian customers to manage their personal finances with a “one-stop” overview of their accounts with most UK banks and other features; and more
08/06/2018
Credit Suisse will pay $47m (£35m) to the US Department of Justice (DoJ) over hiring practices in Asia, the bank yesterday confirmed.
07/06/2018
The majority of the pensions industry (71 per cent) are in favour of multiple pension dashboards, rather than a single dashboard, according to research by the Tax Incentivised Savings Association (TISA)
07/06/2018
London house prices are expected to fall this year as Brexit hampers demand, according to a Reuters poll of housing market specialists
07/06/2018
Rental growth in England, not including London, dropped to 1.18% in the year to May 2018, representing the smallest annual increase in five years, according the latest figures from the Landbay Rental Index
07/06/2018
The Bank of England (BoE) will force banks to publish plans illustrating how they would wind up operations if they were to go bust, announced BoE deputy governor Sir Jon Cunliffe, in the next step in regulators’ efforts to clamp down on “too big to fail” lenders
06/06/2018
The Financial Conduct Authority (FCA) has fined Canara Bank £896,100 and has imposed a restriction, preventing it from accepting deposits from new customers for 147 days
06/06/2018
Royal Bank of Scotland (RBS) CEO Ross McEwan yesterday said that now is “the right time to re-start the share sale process” following the governments’ decision to sell 7.7 per cent of its stake in the company for £2.5bn
06/06/2018
UK house prices are currently 106 times higher than they were when England won the World Cup in 1966, growing three times faster than wages, according to research from mortgage broker, Trussle
06/06/2018
Just two UK investment vehicles have crept into the top ten active funds most recommended by advisers in May, research by AJ Bell has shown
06/06/2018
The number of under 30s saving enough for retirement has risen sharply by 9%, according to the 14th annual Scottish Widows Retirement Report, despite more than one in five young people still saving nothing for later life
06/06/2018
Just Group has developed a unique lifetime mortgage product enabling Saga customers to receive a monthly payment
06/06/2018
A former police officer, financial adviser and a City trader have been jailed for a total of eight years for a £2.4m tax scam after an investigation by HM Revenue and Customs (HMRC)
05/06/2018
Equity release lender more 2 life has recently revealed that despite almost 80% of advisors having at least one social media account, only 38% of them use these channels to promote their advisory services, while just 32% use it to share equity release news and developments
05/06/2018
The total amount saved in workplace pensions has increased £4.3bn to £90.3bn in 2017, new government data has revealed
05/06/2018
US Bank Goldman Sachs has entered the competition to manage a £109bn investment contract put out to tender by Lloyds Banking Group (LBG)
05/06/2018
The government yesterday kicked off the sale of its remaining stake in Royal Bank of Scotland (RBS), announcing that it would begin the process of offloading 7.7 per cent of the bailed-out bank overnight
05/06/2018
Employee benefits firm Mattioli Woods has suspended its pension transfer advice service amid a Financial Conduct Authority (FCA) review of its work in the area
04/06/2018
In its response to the latest FCA consultation paper CP18/17 on DB transfers, Aegon has warned the FCA that its draft guidance on triage places ‘considerable limitations’ on its likely effectiveness, and is also calling for a more “creative approach” to focus on what can, rather than what cannot be done within guidance
04/06/2018
The Treasury is set to net £185bn from income tax receipts in 2018/19, compared to £178bn in 2015/16, according the latest HMRC data
04/06/2018
The owner of Clydesdale and Yorkshire Banks CYBG has made a revised offer to merge with Virgin Money and form a challenger worth £4bn
04/06/2018
The trustee of the Littlewoods Pensions Scheme has completed a £880m buy-in with Scottish Widows, it has been announced
01/06/2018
FTSE 100 defined benefit pension schemes are “close to showing an aggregate surplus” for the first time a decade, while all DB schemes’ funding continues to improve, JLT Employee Benefits has noted
01/06/2018
Barclays is tightening its lending criteria to a UK economy that is lagging behind the rest of the world, with Barclays chief executive Jes Staley sating that “Brexit uncertainty was helping to stunt economic growth”, which the bank “could not ignore”
01/06/2018
The government has announced that Bradley Fried has been appointed Chair of the Court of the Bank of England, with effect from 1 July 2018
01/06/2018
The FCA has announced new proposals that are designed to protect millions of consumers who use overdrafts and high-cost credit, giving them greater control over their finances and reduce their costs
31/05/2018
Net lending for consumer credit was £1.8bn in April, a tremendous increase compared to the £0.4bn reported in March, according to the Bank of England’s (BoE) Money and Credit: April 2018 report
31/05/2018
UK annual house price growth slowed “modestly” in May to 2.4%, from 2.6% in April, according to the Nationwide House Price Index
31/05/2018
Anthony Philip James & Co (APJ) has issued over 30 lawsuits against self-invested personal pension provider, Liberty Sipp, in what is believed to be the largest number of claims against the pension firm
30/05/2018
The number of landlords remortgaging is running close to record levels, according to Paragon’s latest Financial Adviser Confidence Tracking (FACT) Index
30/05/2018
British expats acquiring buy-to-let (B2L) property in the UK are typically squandering £40,000 on unnecessary transaction costs, exchange and loan rates in the first five years, according to research from Thistle Finance and Mercury FX
30/05/2018
Over the past 15 years, the average annuity purchase value has grown by 167%, while annuity rates fell by 26%, according to the results published by the Hargreaves Lansdown annuity index
29/05/2018
Aegon has recently found that 64% of people have more than one pension pot and, of that 64%, 22% have lost track of one or all of their pensions
29/05/2018
London homebuyers receive more help from their parents to buy a home than in any other region, with residents of the capital also having the highest parental contributions – almost £31,000 per transaction on average
29/05/2018
An advisory body to the Treasury has called for a review of the rules under which thousands of saves are taxed at emergency rates when drawing down their pensions early
25/05/2018
Over the past year, high street savings have grown just 1.4%, the lowest rate seen in over ten years, according to the latest figures from UK Finance
25/05/2018
Traditionally, it has been viewed that criminals target the vulnerable and elderly. However, Royal London personal finance specialist Helen Morrissey notes that this view is “evolving quickly”, with recent scams proving that no one is safe
25/05/2018
PRIMIS Mortgage Network has revealed a new partnership with SmartSearch, enabling its brokers to conduct “the most comprehensive” anti-money laundering (AML) checks possible; and more
25/05/2018
A new report has found that those who privately rent before and during retirement will need to accrue a pension pot of around £450,000 to live comfortably, whereas mortgage-free homeowners are estimated to need £250,000
24/05/2018
Just Group is planning to “disrupt” the defined benefit transfer market with launch of its new business, Hub Pension Solutions
24/05/2018
City analysts yesterday dubbed the suggested merger between Barclays and Asian-focused bank Standard Charter “far-fetched”, stating that shareholders would be “horrified”
24/05/2018
Data and technology can help detect and disrupt criminal activity, FCA executive director of supervision Megan Butler has said in a speech at the anti-money laundering (AML) TechSprint conference
23/05/2018
The average house price in England in the year to March 2018 grew by 4%, up from 3.9% in the year to February 2018, according to the latest UK House Price Index published by HM Land Registry
23/05/2018
Four in five retirees using the new pension freedoms to manage their retirement savings face a potential ‘later-life financial crisis’ as they have not set up a Lasting Power of Attorney (LPA), warned a report recently published by Zurich
23/05/2018
TSB handed out around 1,500 free android smartphone devices to business banking customers, which were effectively rendered useless in the midst of the lenders platform migration meltdown
23/05/2018
Banks now send more than 16 text alerts every second, with approximately 512 million being sent to bank customers last year, revealed UK Finance
23/05/2018
FTSE 100 pension schemes recorded their first year-end accounting surplus since the financial crash in 2007/08, however funding dangers still loom, LCP has reported
23/05/2018
The FCA has published a decision notice, confirming that it has decided to ban Darren Lee Newton from working in any regulated activity in the financial services sector
23/05/2018
The fall from 2.5% in March was partly blamed on the timing of Easter, which resulted in a seasonal air fares not being included in April this year
23/05/2018
The estimated, seasonally adjusted number of residential property transactions increased by 3.5% between March 2018 and April 2018, but this figure is 2.7% lower than that reported during the same period in 2017, revealed HMRC’s UK Property Transactions Count – April 2018
22/05/2018
“Worryingly” low levels of savers are seeking financial advice when planning for retirement and making other financial decisions
22/05/2018
Those over the age of 65 are expected to owe around £86bn by the end of 2018, according to figures from the Centre for Economics and Business Research (Cebr) and More 2 Life
22/05/2018
Barclays celebrated a significant victory over the Serious Fraud Office (SFO) yesterday, as the Crown Court dismissed charges surrounding the bank’s huge capital raising during the financial crisis in 2008
22/05/2018
Although London has experienced a recent slowdown in the rise of its property prices, the average amount a first-time buyer in the capital will have to pay has now increased to over £400,000, double that paid by first-time buyers across the rest of the UK, according to research from Lloyds Bank
21/05/2018
The property market could be flooded by homes for first-time buyers as 380,000 buy-to-let (B2L) investors seek to offload their property in the next year, landlords have claimed in a survey conducted by the National Landlords Association (NLA)
21/05/2018
House prices in London and the South East have continued to slump, despite hitting a record high across the UK as a whole, data published by Rightmove has revealed
21/05/2018
A total of 90 per cent of pension schemes have recorded a rise in transfer value requests from members over the last 18 months, Aon has found
18/05/2018
Lloyds Bank has made a deal to sell its £4bn Irish property book to rival lender, Barclays, a move that compensates for £110m loss reported by the lender
18/05/2018
Landbay has announced its new partnership with Legal and General Mortgage Club to provide mortgage brokers and their clients with access to its products; and more
18/05/2018
Pensions provider Just Group has seen new business sales jump by 41 per cent to £617m over Q1 2018, boosting its share price by 12 per cent on the London Stock Exchange today, 17 May 2018
17/05/2018
As a result of a Saudi Arabian bank deal announced yesterday, Royal Bank of Scotland (RBS) could potentially be a step closer to returning to private ownership, as it would be able to relinquish $5bn in the Saudi bank
17/05/2018
Trade minister Liam Fox has announced that he will invite overseas investors to submit bids for financing £30bn worth of projects to help the UK’s economy cope with the effects of leaving the EU
17/05/2018
AJ Bell has announced that its customer number have increased by 12% to 183,483 from 164,557 at 30 September 2017, while the firms profit before tax also rose by 24% to £13.9m compared to the first half of 2017 with £11.2m
17/05/2018
On average, 64 per cent of advisers are unable to understand the rules around expression of wish forms and beneficiaries’ drawdown options, Curtis Bank has found
16/05/2018
The average person will have to save £260,000 over their lifetime to enjoy a basic income during retirement, whereas those not on the property ladder will need £445,000, according to former pensions minister Steve Webb
16/05/2018
UK Finance’s Mortgage Trends Update for March 2018 revealed a slight increase in the lending to first-time buyers compared to a year earlier, while the remortgaging market slowed down
16/05/2018
After the first tier tax tribunal in favour of Hargreaves Lansdown, HMRC has taken the decision to appeal the ‘discount tax’ ruling
16/05/2018
The workplace pension provider Now Pensions has committed to topping up the pensions of non-taxpaying members for the 2017/18 and 2018/19 tax years
15/05/2018
Wages rose at an annual rate of 2.9% in the three months to March, faster than in inflation for the first time in over a year, official figures revealed
15/05/2018
One in five financial institutions is considering trading cryptocurrencies within the next 12 months, according to a survey recently published by Thomson Reuters
15/05/2018
Over half (51%) of the British population under the age of 45 would be interested in banking products or services from technology giants such as Apple, Google or Amazon, revealed research from Equifax
15/05/2018
Although property prices in London are falling, a lack of housing is driving rental prices up by 5% a year, according to data from Haart
15/05/2018
The FCA and the PRA have together fined Barclays Group chief executive James Stayley, a total of £642,430. Staley failed to act with due skill, care and diligence in the way he acted in response to an anonymous letter received by Barclays in June 2016.
14/05/2018
The FCA has secured confiscation orders totalling £1.69m against convicted insider dealers
14/05/2018
ESG investing is becoming a key part of clients’ investment decisions, according to findings from Royal London Asset Management’s annual investment conference
14/05/2018
The majority of comparison websites that compare best the best savings rates in the UK do not rank Shariah-compliant banks alongside mainstream products, according to research conducted by Gatehouse Bank
14/05/2018
Vida Homeloans has widened its B2L expat criteria and now lends to existing UK property owners working in FATF member countries around the world, including Australia, America and Canada, the lender has announced
14/05/2018
Vida Homeloans is to roll out distribution of its second charge mortgage range, offering a range of Residential and Buy to Let (BTL) second charge mortgages through master brokers; Loans Warehouse, CSC Loans, Positive Lending, Brightstar, Specialist Finance, Complete FS, Loan.co.uk and Promise Solutions
11/05/2018
The owner of property website Zoopla and comparison site Uswitch has agreed to be bought by a US private equity firm
11/05/2018
Long-term property investment is set to deliver significant returns for landlords, despite recent regulatory and taxation changes, according to detailed analysis by Kent Reliance
11/05/2018
More than four-fifths (81%) of UK homeowners who bought a property in the last 12 months would use a mortgage broker if they were securing their mortgage again, according to the latest figures from Legal & General’s Mortgage Myths campaign.
11/05/2018
Pension transfer values fell slightly over April 2018, from £235,000 to £232,000, according to the Xafinity Transfer Value Index
11/05/2018
The winners of the inaugural Mortgage Awards 2018 were announced last night at a glittering gala ceremony in London attended by over 200 people
11/05/2018
Recently it looked almost certain that the Bank of England (BoE) was going to increase interest rates by 0.25%
10/05/2018
There were 78,800 homeowner mortgages in arrears of 2.5% or more of the outstanding balance in the first quarter of 2018, representing an 8% drop compared to the same period in 2017 and the lowest level since records began in 1994, according to UK Finance’s latest Mortgage Arrears and Possessions Update
10/05/2018
London’s housing market has experienced its worst month in nearly a decade, with surveyors expecting prices to drop even further over the next year
10/05/2018
Shares in Virgin Money rose by 9.89% yesterday to reach 343.3p, as investors welcomed the news of the latest consolidation in the British challenger bank sector, while shares in CYBG also rose by 1.3%
09/05/2018
A well-known FTSE chairman has received criticism from investors after three companies that he currently chairs have fallen into trouble
09/05/2018
Trussle has secured £13.6m in financing from a group of leading international investors led by Goldman Sachs Principal Strategic Investments and Propel Venture Partners in its Series B funding round
09/05/2018
House prices in the last three months to April were 2.2% higher than in the same three months in 2017, according to the Halifax House Price index, a decline from the 2.7% annual growth recorded in March
08/05/2018
The owner of Clydesdale and Yorkshire Bank CYBG has approached Virgin Money with a proposed full-share takeover, valuing the firm at £1.6bn
08/05/2018
A £10,000 payment should be given to all young adults when they reach the age of 25, while pensioners should be taxed more, a new report into intergenerational fairness in the UK has suggested
08/05/2018
The government must reform the “absurd” tax over-pay and reclaim system for pensions, as new HMRC figures show over £280m has been repaid since pension freedoms was introduced, Royal London director of policy Steve Webb has said
04/05/2018
Lloyd’s Banking Group’s ‘mule-hunting team’ has already stopped more than £1m from being transferred to fraudster’s accounts since its launch at the beginning of 2018, the bank has announced
04/05/2018
The FCA has found that competition in the mortgage market is working well for many people, but has also identified “a number” of ways in which the market could work even better for some people
04/05/2018
Landbay has recently reported its strongest quarter to date and has revealed plans to increase its headcount by 70% by summer 2018; and more
04/05/2018
The Bank of England (BoE) has appointed former Morgan Stanley and Schroders analyst Huw van Steenis as an adviser to governor Mark Carney
03/05/2018
In March, ISA sales turned positive for the first time in seven months at £363m, with an additional £256m in the first 5 days of April as investors sought to use their 2017/18 ISA allowance, according to the Investment Association’s March investment review
03/05/2018
The average rental costs for a property in England has risen in the year to April by 0.64%, bringing the monthly average price to £1,232 per month, despite rental costs in London falling by 0.27%, according to the latest Landbay Rental Index
03/05/2018
A decline in the number of active and open defined benefit contribution pension schemes has continued, with 53% of final salary schemes closed to new members and 43% closed to future accrual, leaving just 4% open to new members, according to a survey conducted by Barnett Waddingham
02/05/2018
A freedom of information request submitted by Retirement Advantage revealed the “full impact” of the lifetime allowance since it was introduced in the 2006/07 tax year, representing a 1000% increase in the total value of annual tax collected as a result of an individual’s pension exceeding the limit
02/05/2018
A third of people using drawdown to fund their retirement have no investment experience, though two in five of those have not received financial advice or guidance, revealed new research from Zurich UK
02/05/2018
Sainsbury’s defined benefit pension deficit has reduced by £589m to £261m on an IAS 19 accounting basis, ahead of its merger with Asda, it has announced
01/05/2018
Aviva has announced that it will commence a share buy-back of its ordinary shares for up to a maximum aggregate consideration of £600m
01/05/2018
Providers will have to contribute 25% of advisers’ Financial Services Compensation Scheme bills, the FCA has ruled.

Despite opposition from some providers, and some advisers arguing that providers should have to pay up to 75% in response to the FCA’s consultation, the regulator has decided to proceed with proposals for providers to cover a quarter of advisers’ funding requirement
01/05/2018
The Department for Work and Pensions has published new guidance that is intended to assist trustees in complying with the new regulations involving bulk transfers
30/04/2018
Last time buyers now own £938bn of UK housing stock and will reach the £1trn mark before the end of this year, according to new research published by Legal & General
30/04/2018
Banks may be forced to pay a further £18bn to consumers in payment protection insurance (PPI) claims ahead of the August 2019 deadline, following miscalculations by the Financial Conduct Authority
30/04/2018
Belmont Green Finance has announced that it has completed a £308m UK mortgage-backed securitisation led by NatWest markets and Macquarie Bank and co-managed by Barclays
30/04/2018
City investment banks, lawyers and other professional services firms could share more than £120m in fees from the merger of Sainsbury’s and Asda, with the two supermarket chains set to face over 12 months of complex negotiations to finalise their deal
30/04/2018
Sainsbury’s has confirmed its plan to merge with Asda in a deal that will see Asda’s current owner, Walmart, taking a stake of 42% in the group
30/04/2018
The Financial Guidance and Claims Bill is expected to pass through the House of Lords next week, Minister for Pensions and Financial Inclusion Guy Opperman has confirmed
27/04/2018
Pensions Minister Guy Opperman has called for the support of the pensions industry to implement quicker defined contribution transfer periods
27/04/2018
The Personal Finance Society (PFS) has launched a new good practice guide to explain how financial advisers might assimilate value-based investing into their client recommendations where appropriate
27/04/2018
Following on from the published ISA statistics from HMRC, Fidelity International investment director Maike Currie has said that “returns on cash remain at paltry lows”
27/04/2018
Post Office Money has recently launched a product for first-time buyers which does not require them to have a deposit to buy a property
27/04/2018
The bridging loan product has continued to grow in popularity since 2011, when the market was valued at £750m in the UK. Today, however, it is roughly estimated to be at £5bn, according to the Association of Short Term Lenders, representing a huge increase in the demand for short-term lending as many homeowners, first-time buyers and buy-to-let landlords take advantage of low interest rates
27/04/2018
We could be years off of “nudging” pension savers towards making more informed financial decisions at retirement, according to Just Group director Stephen Lowe, as government has failed to legislate for default pension guidance
26/04/2018
Approximately 85% of advisers feel that the number of SIPP operators in the market will “continue” to contract, according to a survey conducted by Dentons Pension Management
26/04/2018
Gross mortgage lending in March is estimated to have been £20.5bn, 2.3% lower than the figure reported in March 2017, according to UK Finance’s update on lending for March 2018
26/04/2018
A TSB customer, Matthew Neal, was given access to someone else’s £35,000 savings account, £11,000 ISA and a business account when he logged into his online banking
25/04/2018
StepChange Debt Charity has identified that there is an urgent need to support the 300,000 households highlighted by the government as in debt to illegal money lenders, commonly known as ‘loan sharks’
25/04/2018
More than 80,000 people have had their mortgage help stopped according to the first official figures released since changes were made to the Support for Mortgage Interest (SMI) scheme
25/04/2018
After more than 15 years of borrowing to meet the costs of day-to-day services, such as health and pensions, the government has balanced the books
25/04/2018
A total of 67 per cent, two thirds of pension professionals, have stated that the Department for Work and Pensions’ defined benefit white paper will leave members of DB pension schemes better protected in the future
25/04/2018
The £500 tax-free employer-arranged pensions advice amount should be doubled to £1000, Aegon has argued
25/04/2018
Banks have been accused of giving savers a “raw deal” after analysis found that nine out of ten did not pass on last year’s interest rate rise in full
25/04/2018
The FCA is urging the public to be aware of the growing threat of loan fee scams targeting borrowers, as last year over £3.5m was lost to loan fee fraud while reports to the FCA consumer helpline increased by 44%
24/04/2018
Following Vida’s successful entry into the first charge mortgage market, with 8,000 intermediaries now registered to do business and over £400m in mortgage completions in its first year of trading, the lender has moved its HQ to larger premises in Staines-upon-Thames
24/04/2018
The UK’s top share index rose yesterday as a rise in bond yields lifted financials and an appetite for risk returned
24/04/2018
Two men have been jailed for their involvement in an “elaborate pensions scam” stealing almost £1m from their victims
23/04/2018
A growing number of young people are being lured in illegal works as “money mules”, as Cifas revealed that there was a 27% increase in the number of 14-24 year olds being used during 2017
23/04/2018
Men in the UK are currently receiving £29,000 more than women, over the course of a 20-year retirement, Which? has highlighted
23/04/2018
The government has “no plans” to review its decision regarding the secondary annuity market, HM Treasury economic secretary John Glen has said
23/04/2018
Capita’s profit was eradicated by £850.7m worth of one-off costs, primarily from writing down the value of acquisitions made under its previous management
23/04/2018
Choice in the credit card market is being squeezed as providers take a more cautious attitude to lending, following warnings over excessive consumer spending.
23/04/2018
MoneySavingExpert founder Martin Lewis has said that at least 50 fake ads bearing his name have appeared on the social media platform, causing him reputational damage
23/04/2018
An interest rate rise is “likely’ to occur this year, according to BoE governor Mark Carney, but any increases will be gradual
23/04/2018
Scottish Widows has launched ‘drip-feed drawdown’, a phased retirement income capability, which is available through its retirement account
20/04/2018
Collective defined contribution (CDC) pension schemes are either 10 years too early or 10 years too late, Aon Hewitt senior partner Kevin Wesbroom has said
20/04/2018
HM Revenue and Customs could assist the self-employed with pension savings through the tax return system, Royal London director of policy Steve Webb has said
20/04/2018
Tax chiefs have been criticised for refusing to raid the offices of a firm suspected of laundering huge sums of money seemingly because they donated money to the Conservatives
19/04/2018
During the second half of 2017, a total of 3.76 million complaints made to financial services firms were received, an increase of 427,032 on the first half of the year, new data from the FCA has revealed
19/04/2018
There is a significant number of advisers are now outsourcing investment management, with multi-asset funds and model portfolios built using external expertise now accounting for over 55% of assets, according to research in Aegon’s latest Adviser Attitudes Report
19/04/2018
Defined benefit transfers could cost companies £25bn due to members transferring out in order to access pension freedoms, according to Xafinity Punter Southall
18/04/2018
A single flat-rate of tax relief could help boost self-employed pensions and see 75 per cent of pension savers better off, the Royal Society of Arts (RSA) has said
18/04/2018
UK consumer price inflation fell in March to 2.5%, the lowest rate seen in 12 months, according to the Office for National Statistics
18/04/2018
Homeowners aged 55+ released £870m from the value of their homes between January and March 2018; an increase of 120% from the £394m seen in Q1 2016, according to the latest quarterly lending figures from the Equity Release Council (the council)
18/04/2018
Pension experts have criticised HMRC for failing to remove a flawed tax relief calculator, despite being aware that it was providing consumers with incorrect advice
18/04/2018
There are many options for millennials when it comes to getting on the property ladder, claiming that “an outdated view of mortgages and the property ladder persists amongst some audiences", Leeds Building Society has said
18/04/2018
It is "not the right time" to implement a pot follows member system into UK pensions, Pensions Minister Guy Opperman has said
17/04/2018
The pound has continued its recent strong run against the dollar, pushing firmly above $1.43 for the seventh consecutive session, resulting in the UK having the best performing currency this year among the G10 group of rich nations
17/04/2018
Total homeowner house purchases, including first-time buyers and home movers, reached 50,000 in February, the highest levels recorded in February since 2007, according to UK Finance’s latest mortgage trends update
17/04/2018
Invoice finance and asset-based lending stood at £23.4bn at the end of 2017, a 5% increase on the funds advanced at the end of 2016, according to figures published by UK Finance
17/04/2018
Over half of live easy access accounts pay less than the base rate at its current level of 0.50% - which means that anyone with one of these accounts cannot even keep up with the base rate, let alone CPI inflation, according to Savings Champion
17/04/2018
For the first two months of 2018, consumer spending saw the strongest reduction for the opening of a year since 2012, a trend that is looking likely to continue going forward, according to Visa’s UK Consumer Spending Index
16/04/2018
Only three of the top 17 master trusts offer pension tax relief to their lowest paid members, Hymans Robertson has revealed
16/04/2018
Robo advice for pension members would work better in data rich “big scheme environments”, but has yet to see good solutions in the at-retirement space, Aon has said
16/04/2018
The UK’s bridging sector ended in a strong position in 2017 with a particularly powerful performance in Q4, yielding a new high of £5bn, according to West One’s Bridging Index
16/04/2018
Increasing numbers of people are missing out on inheritance tax relief as a result of executing wills without legal advice
16/04/2018
Britons have been handed their first pay rise since the beginning of 2017 as a year-long squeeze on real incomes, stemming economic growth, comes to an end, data this week is expected to reveal
16/04/2018
A 'trap' in the tax system means HMRC is wrongly overcharging people thousands of pounds for drawing cash from their pensions, experts have warned
16/04/2018
Halifax research has revealed that today, 16 April, homeowners have earned on average a sufficient amount to cover their mortgage payments for the rest of 2018, based on the average annual mortgage repayment cost of £8,039 and an average annual income of £27,724
16/04/2018
Millions of pounds from dormant bank accounts are being invested in a pioneering fund aimed at lending to socially or environmentally friendly projects with no access to public markets
16/04/2018
Just one in seven (14%) of advisers feel that FAMR’s key measures are helping to close the advice gap, despite 33% agreeing that FAMR’s key measures are beneficial, according to research conducted by Aegon
13/04/2018
Legal & General has announced the launch of its new mortgage product, the Optional Payment Lifetime Mortgage (OPLM), designed to help the growing number of borrowers in retirement who are “trapped” between the traditional lifetime mortgage and residential mortgage markets
13/04/2018
A senior Bank of England (BoE) official yesterday said it should resist pressure to combine its financial and monetary policy committees due to fears of it diminishing the importance of difficult-to-measure stability concerns
13/04/2018
A senior city figure has warned that the UK risks being stuck with a “token minimalist” deal on financial services as part of the post-Brexit agreement with the EU in October
13/04/2018
The number of UK professionals fined for money laundering fell by 20 per cent last year after seeing record high figures in 2015/16
12/04/2018
Pension transfer values increased in March, mainly due to a drop in gilt yields over the month, Xafinity Punter Southall has reported
12/04/2018
Regulation since the financial crisis has imposed an annual cost of £26bn ($37bn) on the world’s largest investment banks’ capital markets activities, a recent study has found
12/04/2018
London’s housing crisis has continued as buyer demand falls for the 11th consecutive month, according to a new UK residential survey by the Royal Institution for Chartered Surveyors (Rics)
12/04/2018
J.P. Morgan Chase has been hit with a lawsuit in Manhattan federal court accusing it of charging unexpected fees when it stopped allowing customers buy cryptocurrency with credit cards in late January, and began treating the purchases as cash advances
12/04/2018
Last year, HMRC collected a record-breaking £4.9bn from IHT, and research from TIME Investments revealed that 36% of consumers aged 55 and over that seek financial advice from an IFA have not considered IHT planning, despite IHT taking 40% of a total qualifying estate
11/04/2018
Demand for Selectapension’s defined benefit transfer value analysis (TVAS) tool has outstripped demand for its money purchase tool for the first time, according to the investment software firm
11/04/2018
New Universal Credit claimants already in receipt of Housing Benefit will receive an additional two weeks’ support with their rent when their claim, ends to support them during the transition onto Universal Credit
11/04/2018
Women in drawdown face a 37% shortfall in their annual retirement income compared to men, resulting in them being over £47,000 worse off, according to report, Drawdown: Is it working for consumers?, from Zurich UK
11/04/2018
The Bank of England must explain the financial impact of monetary policy on society to aid the British public understand its decisions , chief economist Andy Haldane has said
11/04/2018
Former City trader Philippe Moryoussef facing charges that he helped to rig bank borrowing rates will be tried in absentia after he failed to attend court, arguing that he did not think he would get a fair trial
11/04/2018
The majority of defined benefit pension schemes have seen between 20-30 per cent of their non-pensioner members aged over 55 transfer out to access greater flexibilities, Willis Towers Watson has reported
10/04/2018
The PPF has recently released its monthly funding update, illustrating that the aggregate deficit of the 5,588 schemes in the PPF 7800 Index is estimated to have increased over the course of the month to £115.6bn at the end of March 2018
10/04/2018
Connect for Intermediaries has announced that it is going to provide all of its network members with a Financial Intermediary and Broker Association (FIBA) membership, as one of their benefits for being a Connect for Intermediaries representative
10/04/2018
HMRC is currently in the process of investigating 129 footballers over £250m worth of investments in a tax avoidance scheme, according to The Mirror
10/04/2018
The UK’s financial system is “under almost constant cyber-attack” according to a senior Bank of England official, with the regulator planning to introduce new standards for financial firms’ cyber security
10/04/2018
Greater London was the largest contributor towards stamp duty tax takes, at around 39%, with over £600m coming from two boroughs; Kensington and Chelsea and the City of Westminster
09/04/2018
After a “vibrant” 2017 for the bulk annuity market, expectations for 2018 are high with transactions potentially reaching £30bn, according to Aon
09/04/2018
One of the “biggest barriers” to changing governance and investment policy for defined benefit pension plans is the lack of financial resources, BlackRock has found
09/04/2018
The Financial Conduct Authority has reiterated its warning to firms offering “unsuitable pensions advice”, saying it will “not hesitate to intervene”
09/04/2018
Roughly 70% of financial advisers are willing to advise on investment portfolios of £50,000 or less, according to NS&I’s latest Financial Advice Barometer
09/04/2018
Savers planning to make ad-hoc pension freedoms withdrawals in the new tax year could be overtaxed by £3,000 on a £10,000 payment, and have to either wait at least 12 months to get the money back or contact HMRC to ask them to return it
09/04/2018
This year is set to be “the year of the IPO” and while London remains an attractive global hub for IPOs, despite Brexit concerns and trade wars, with a number of flotations already in the pipeline, according to J.P. Morgan head of equity capital for Europe, the Middle East and Africa Achintya Mangla
09/04/2018
Nearly 20 banks have committed to launching new European Union hubs in Frankfurt since the Brexit vote, while rival cities are still competing for the 60 firms that are yet to decide
09/04/2018
deVere Group has expanded its deVere Germany brand even further by opening offices located near Marienplatz, in an operation that will be headed by Glen Crossfill
06/04/2018
Asset management campaigner Gina Miller has criticised the new rules imposed by the FCA that are designed to help reduce the costs for end investors and improve transparency
06/04/2018
The second charge sector reached £1.02bn in 2017, the highest levels seen since the financial crash and a 9% growth over 2016. The market also experienced seven consecutive months of increased annualised lending, according to Enterprise Finance’s Second Charge Report
06/04/2018
There remains “much food for thought” for sponsors, trustees and advisers of defined benefit pension schemes when setting funding plans, Pensions and Lifetime Savings Association head of governance and investment Joe Dabrowski has said
06/04/2018
The FTSE 350 pension deficit has fallen by £4bn to £72bn in the first quarter of 2018, figures by Mercer show
06/04/2018
Millions of workers are set to have their income tax slashed under government changes that come into effect today
06/04/2018
Latest figures illustrate that, of the 10,000 companies that submitted gender pay gap data, 78% of them pay men more on average than women, while 14% of firms pay women more, according to the BBC’s analysis of the reports
05/04/2018
The government should allow Nest to provide decumulation products in order to drive competition from other providers, the Work and Pensions Committee has said
05/04/2018
The Work and Pensions Committee has called for pension providers to offer default decumulation pathways for its members
05/04/2018
The Financial Conduct Authority has been told to conduct a review that compares the outcomes of automated advice to traditional face-to-face appointments
05/04/2018
Rental payments across the UK accounted for 52% of the average disposable income of £1,471 for those living outside of London, with the average monthly rental payment coming in at £761 outside of the capital
05/04/2018
Over the last ten years, investing a full ISA allowance at the start of the tax year could have left you with almost £20,000 more than if she/he had waited until the last-minute to invest
05/04/2018
Six pension and finance companies, involved in the operation of occupational pension schemes, have been placed into provisional liquidation by the High Court
04/04/2018
Fund manager Neil Woodford has continued to suffer in 2018 as his flagship fund shrunk to a near three-year low. Woodford’s equity income fund assets slumped to £6.6bn as at the end of March
04/04/2018
SimplyBiz has completed its £130m listing on the London Stock Exchange, raising £65m
04/04/2018
The official UK pension incomes, as published by HM Revenue and Customs show a “shocking disparity” between regions, Royal London has argued
04/04/2018
UK private sector defined benefit pension scheme deficits were “largely unchanged” in the 12 months to March 2018, JLT Employee Benefits has found
03/04/2018
More than half of brokers (52%) said that they have used specialist lenders more frequently since the PRA’s new guidelines for portfolio landlords came into effect in October, according to new research from Kent Reliance
03/04/2018
Investors that are remaining in cash long-term risk poor returns and a loss in purchasing power, compared to investing in the stock market, according to research conducted by Royal London
03/04/2018
HSBC is being investigated over a £134m 'tax evasion' scheme created by the bank, The Times has revealed
03/04/2018
Young people should receive a "minimum inheritance" package of £10,000 when they turn 25, a think-tank has said
03/04/2018
Vida Homeloans has widened its B2L Expat criteria for a limited number of distributors to accommodate existing UK property owners working in FATF member countries across the globe, whilst its ‘EEA only’ B2L Expat product continues to be available to the entire market
03/04/2018
The proportion of Britons paying the highest rates of tax is now at a record level and double that of 20 years ago
03/03/2018
more 2 life, the equity release lender, has announced that recent “product innovations” and “technological advancements” has led to record levels of growth in Q1 2018
29/03/2018
Gross mortgage lending is forecast to continue growing in 2018, the eighth consecutive year in a row, to reach its highest level since 2007, with falling inflation to support the growth despite the uncertainty surrounding Brexit, according to the Intermediary Mortgage Lenders Association’s (IMLA) forecast, The New Normal: Prospects For 2018
29/03/2018
UK financial services “increasingly” feel as though risks will outweigh opportunities as Brexit draws nearer, according to the recent snapshot member survey by ACCA
29/03/2018
The rising auto-enrolment contribution rates next week, and in April 2019, are not likely to prompt a “significant negative behavioural response”, Nest Insight has claimed
29/03/2018
Lloyds Banking Group is to pay almost £3m to its former chief executive and another director after it lost a legal battle to withhold payments relating to the purchase of HBOS
29/03/2018
The average British consumer will waste more than £30,000 in their lifetime as a result of having lost track of monthly direct debits, a new study has shown
29/03/2018
A “simple solution” of withdrawing only the natural yield from a drawdown product to live on, known as guided drawdown, has been proposed as a fix to the retire-as-you-go generation’s desire for flexibility combined with life-long income
28/03/2018
Oliver Wade looks at how a rising base rate could affect the UK mortgage market
28/03/2018
Debt on UK credit cards is growing at the quickest rate recorded in the past 12 years, according to the figures published by UK Finance
28/03/2018
Just over 1 in 3 (37%) of all drawdown is sold on a non-advised basis, though the percentage is higher for small pots and much lower for large pots
28/03/2018
Nucleus and Zero Support managing partner Phil Young have partnered up to launch a white paper on the General Data Protection Regulation (GDPR) specifically targeted at financial advisers
28/03/2018
Twitter has become the latest social media platform to disallow advertising relating to cryptocurrency on its webpage, resulting in Bitcoin’s value plummeting below $8,000
28/03/2018
The High Court has found that Capital Alternatives, Renwick Haddow, Marcia Hargous and Robert McKendrick and others should pay a total of £16.9m in compensation for their roles in four unauthorised collective investment schemes (CIS’s), which were unlawfully promoted to the public
27/03/2018
Over two in five, 42 per cent, of businesses state that their ability to recruit and retain staff has been improved by their pension scheme, it has been reported
27/03/2018
HM Revenue & Customs has confirmed it will maintain the requirement for savers giving up
‘safeguarded’ benefits worth £30,000 or more when transferring to an overseas pension scheme to take regulated advice from a UK-based adviser
27/03/2018
Only 35% of working consumers believe that they have seen an increase in their household income over the past 12 months, according to the latest Lloyds Bank Spending Power Report
27/03/2018
MPs are set to scrutinise the VAT system to examine why the tax man is failing to collect billions as part of a trio of investigations launched by the Treasury Select Committee
27/03/2018
Purchases of investment companies by advisers and wealth managers on adviser platforms in 2017 reached a record £990m, according to latest research published from the AIC using Matrix Financial Clarity
27/03/2018
Scammers and criminals have been using a variety of “sophisticated” methods in order to con people over the age of 50 out of their savings. Retirement Advantage has warned that people need to be “wary of unsolicited approaches” by email, telephone, text messages or in writing
27/03/2018
Gross mortgage lending in February was estimated to have been £19bn, 4.9% more than the previous year but below the monthly average of £21.4bn seen throughout 2017, according to the figures published in the Lending Update by UK Finance
26/03/2018
The Financial Conduct Authority has backtracked on its proposal to remove the assumption for advisers that a defined benefit pension transfer is unsuitable, instead launching a consultation on whether a ban on contingent charging is needed
26/03/2018
Both private and public bodies have been instructed to publish their gender pay cap for the first time, with a deadline of 4 April 2018 set. Those who do not meet the deadline could face legal action and an “unlimited fine” set by the courts, the Equality and Human Rights Commission (EHRC) has said
26/03/2018
London and New York remain at the top of the global financial centre rankings and the gap between them in ratings closed to one point on a scale of 1,000
26/03/2018
Those who choose to avoid raising pension contributions post April 2018 could potentially lose out on over £250,000 over the course of their working life, according to Fidelity International
26/03/2018
Pension savers are losing thousands of pounds from their pension pots as a result of high investment charges on drawdown schemes
26/03/2018
Companies that have passed RLAM’s sustainable investment criteria returned 10.2% per annum over the past five years, a total of 62.1%, compared to a 9.5% annual return from the FTSE 100, according to analysis by Royal London Asset Management, which suggests that “investing sustainably can outperform the market”
26/03/2018
Interest rates are set to hit 2% by 2021, Bank of England policymaker Gertjan Vlieghe has warned
26/03/2018
In 2016/17, 28% of people owned their own home, with a mortgage, compared to 37% in 2006/07.
23/03/2018
Forty per cent of default funds are still targeted to annuities, which could be leaving members exposed to “unintended investment risks”, according to Aon
23/03/2018
Almost 30 per cent of eligible employees don’t understand or are unsure of the benefits of auto-enrolment, the Department for Work and Pensions has found
23/03/2018
The financial ombudsman has agreed to hold an inquiry into allegations of bias against consumers and claims that its staff are inadequately trained amid fears that complaints may have been mishandled
23/03/2018
As the help-to-buy (H2B) scheme is approaching its fifth anniversary, many homeowners who took advantage of the Governments’ interest free loan will be facing hefty charges come April
23/03/2018
The 2018 MoneyAge Awards are now open for entries
22/03/2018
The Bank of England left interest rates unchanged today at 0.5%, but two committee members broke consensus and voted for an immediate rise to 0.75%
22/03/2018
deVere Group has opposed Twitter chief executive Jack Dorsey by stating that “Bitcoin will not become the world’s sole currency in 10 years”
22/03/2018
Credit card and loan debt is preventing more than one in five over-65s from enjoying retirement as they struggle to maintain their standard of living with one in seven (14%) relying on credit cards to boost their income in retirement, new research from over-55s financial specialist Key Retirement shows
22/03/2018
The newly proposed Pension Superfund that will consolidate the pension assets and liabilities of UK defined benefit schemes looks to offer an “affordable solution” for employers to fulfil pension promises
22/03/2018
Around 700,000 more pensioners could be living in poverty in 2050 if the pensions triple lock is scrapped, a new report has revealed
22/03/2018
HMRC collected a “record high” £5.3bn through inheritance tax (IHT) last year, according to leading private client firm Wilsons
22/03/2018
The government is to launch an independent inquiry into the operations of the Financial Reporting Council
22/03/2018
January 2018 saw a growth in the consumer finance new business market, with an increase of 12 per cent compared to the same month last year, according to the Finance & Leasing Association (FLA), resulting in a recorded £8,212m being lent
21/03/2018
A group made up of M&G Prudential, Invesco, GAM, Blackrock, Legal & General and Eden Tree have clashed with Aviva over its plan to cancel £450m of preference shares, many of which are owned by pensioners
21/03/2018
Second charge mortgage new business volumes increased by 13 per cent in January 2018 compared to the same period the year before, resulting in a value growth of 8 per cent, equating to £76m and 1,645 new deals, according to the Finance & Leasing Association (FLA)
21/03/2018
The FCA has today published its Approach to Supervision and its Approach to Enforcement
21/03/2018
PerfectHome has agreed with the FCA a package of redress totalling over £2.1m
21/03/2018
The EU has ruled out government demands for special treatment for the UK financial sector
21/03/2018
The Financial Conduct Authority and The Pensions Regulator have revealed plans on how they will work together over the next decade, in a bid to tackle low levels of retirement saving
21/03/2018
Over seven out of 10, 71 per cent, of defined contribution pension holders are unaware of the charges they are paying, the Financial Conduct Authority has found
20/03/2018
Housing prices in the UK have grown by 4.9% since January 2017, according to the UK housing pricing index (HPI), with Scotland and the East Midlands seeing the largest growth at 7.3%
20/03/2018
Collectively, UK households will need to spend an additional £21.2bn to maintain the current standard of living for the next year, according to Retirement Advantage
20/03/2018
Hargreaves Lansdown (HL) has won a challenge presented to HMRC over “discount tax”, which saw around 150,000 investors receiving at least £15m back after being taxed on their annual management fees, known as loyalty bonuses, since March 2013
20/03/2018
The Department for Work and Pensions (DWP) is to launch a consultation this year on the legislative framework and authorisation regime to enable the establishment of commercial consolidation vehicles for DB schemes, its Protecting Defined Benefit Pension Schemes white paper has revealed
20/03/2018
Due to stamp duty increasing by 3% on buy-to-let (B2L) investments, 69 per cent of landlords have been “put off” investing in further rental property, according to the Residential Landlords Association, despite rented homes becoming the “norm” in the UK
20/03/2018
The government has dropped plans to allow defined benefit pension schemes to change their indexation, whilst highlighting the British Steel Pension Scheme's arrangement as an alternative “positive outcome”
19/03/2018
The Department for Work and Pensions (DWP) has confirmed its intention to legislate to introduce a criminal offence against those found to have committed “wilful or reckless behaviour” in relation to a pension scheme
19/03/2018
February 2018 saw mortgage approvals fall by 1.25% compared to the previous month and 2.6% lower than in February 2017, according to e.surv’s latest mortgage monitor
19/03/2018
The UK has a tax burden of 38% of GDP, 76% higher than the average rate for the major emerging BRIC (Brazil, Russia, India and China) economies (21.8%), research has shown by accountancy group UHY Hacker
19/03/2018
Schroders chief executive Peter Harrison saw his total pay packet jump by 12% last year
19/03/2018
Capita is expected to strip its former boss Andy Parker of an £845,000 cash bonus
19/03/2018
The finance minister of Luxembourg has called on the EU to “be creative” by offering a unique deal that will protect financial services in Britain and on the Continent
19/03/2018
Large numbers of householders may be “in too deep” with their borrowing, FCA director of supervision Jonathan Davidson said
19/03/2018
Mortgages in the UK have reached their most affordable level in a decade, according to new research from Halifax, despite house prices rising by 3% in the past year
19/03/2018
Banks and card companies prevented £1,458.60m in unauthorised financial fraud last year, equivalent to £2 in every £3 of attempted unauthorised fraud being stopped, latest data from UK Finance has shown
19/03/2018
Recent figures published in a report on the same day as the Spring Statement reveal “catastrophically low” numbers have opted into a scheme to prevent their support for mortgage interest (SMI) benefit being cut off in April
16/03/2018
The UK banking system could continue to support the real economy through a disorderly Brexit, the Bank of England has said
16/03/2018
HSBC’s women are paid 60% less than its men, according to gender pay gap data, revealing one of the biggest differences among the largest UK banks and also an increase over 2017’s reported 59%
16/03/2018
Onesavings Bank announced a 21 per cent full-year pre-tax profit yesterday achieving £167.7m, beating its 2017 forecast of £162.8m and crushing its 2016 profit of £138.2m
16/03/2018
Leeds Building Society has announced that it will be lending on more properties on a site, up to a maximum of ten sites or 25% of available units, whichever is greater, to support the government’s affordable housing policy; and more...
16/03/2018
The bulk annuity market could hit £30bn in 2018 as providers overcome the “missed opportunities” of 2017, Aon has said
16/03/2018
Defined benefit transfers will “come to a head when stockmarkets fall”, an expert on a roundtable of pension specialists has predicted
16/03/2018
A demand for specialist residential mortgages is being “driven by a diverse set of customer needs”, primarily from those that are self-employed, according to Paragon’s Q4 2017 FACT index report, involving 198 mortgage intermediaries
15/03/2018
Workers on national average earnings will be contributing over 20 per cent of their disposable income under auto-enrolment by 2019, leaving millions of pension savers facing an affordability crisis
15/03/2018
Prudential is set to separate from M&G Prudential to create two separately-listed companies
15/03/2018
The Government will need to introduce a tax increase of £41bn per year to keep government spending stable, whilst also achieving Chancellor Philip Hammond’s targets, according to the Institute for Fiscal Studies (IFS)
15/03/2018
Downing Street has signalled a retreat in the face of a public backlash around its plans to scrap 1p and 2p coins
15/03/2018
Signs are emerging that the Treasury is considering the withdrawal of 1ps, 2ps and the £50 note
14/03/2018
The number of remortgages in January 2018 reached a nine-year high while the number of first-time buyers and home movers both increased compared to the same period in the previous year, UK Finance’s latest mortgage trends update has revealed
14/03/2018
Pressure is rising for an inquiry into the Financial Ombudsman Service (FOS) ‘failings’ around ‘mishandled complaints’
14/03/2018
Best buy ISA rates have fallen by up to 61% since the introduction of the Funding for Lending Scheme in July 2012, according to Savings Champion
14/03/2018
Rothesay Life is to purchase a £12bn annuity portfolio from Prudential, covering around 400,000 policyholders, in the largest transaction of its type in the UK
14/03/2018
UK borrowing is forecast to be £45.2bn this year, £4.7bn lower than forecast last November and the country has experienced its first sustained fall in debt for 17 years, Chancellor Philip Hammond has said
13/03/2018
Barclays Bank issued £22.2m worth of shares to its senior executives yesterday, despite not hitting their profit expectations and posting a loss of £1.9bn in 2017
13/01/2018
The total amount of equity release by homeowners so far in 2018 is more than double (132%) the total amount released during the same period in 2017, according to equity release provider Responsible Equity Release
13/03/2018
Six in ten people without any exposure to cryptocurrencies would consider introducing cryptocurrencies, such as Bitcoin, into their investment portfolio, revealed a global poll
13/03/2018
The minimum auto-enrolment increase to 5 per cent next month will not lead to large-scale opt-outs by members, according to Royal London
13/03/2018
Vida Homeloans has launched a new ‘Vida Premier’ range, covering both residential and buy to let mortgages, with rates starting from 2.79% for specialist residential businesses and an LTV of up to 70%, and 2.89% for specialist buy to let businesses, also with a 70% LTV
13/03/2018
HM Treasury forecasts that it will benefit from an additional £5.1bn in a ‘bonus’ tax take by April 2019 as a result of the pension freedoms policy of 2015
12/03/2018
The head of Beaufort Securities, Tanvier Malik, has claimed he injected more cash into the broker just days before it was shut down by the FCA over growing concerns it was insolvent
12/03/2018
NS&I have today announced an increase of their Junior ISA interest rates by 25 basis points to 2.50% tax-free
12/03/2018
Capita is planning a £700m asset sale as part of a balance sheet shake-up
12/03/2018
AJ Bell yesterday announced that it has appointed Numis Securities to explore an IPO on the primary market of the London Stock Exchange, with a float estimated to be “upwards of £500m”, according to the firm
12/03/2018
Former Barclays staff have lost their fight to prevent the bank moving its past pension promises away from its core retail banking business
12/03/2018
Yesterday Chancellor Philip Hammond said there was a “light at the end of the tunnel” for the UK’s public finances, but indicated that he will not be making adjustments to the fiscal regime
12/03/2017
The drop in the lifetime allowance has led to a 2,100% increase in the government’s tax take, in the 16/17 tax year compared to the 06/07 tax year, a freedom of information request from Old Mutual Wealth has shown
12/03/2018
The pensions and asset management industry has been "tarred with the brush of the financial services industry", leading to a lack of trust among the public, SCM Direct co-founder and transparency and ethics activist Gina Miller has claimed
09/03/2018
Lady Barbara Judge has been suspended from her role as IoD chair following accusations against her of sexism, racism and bullying
09/03/2018
2018 is set to be “year one” of a new post financial crisis era, as growing profits from the UK’s largest banks will absorb the economic and political shocks from 2018, according to top ratings agency, S&P Global Ratings
09/03/2018
Lloyds Banking Group has launched its £1bn share buyback programme
09/03/2018
TMA Club launches AML checks through Smartsearch and more...
09/03/2018
Shadow chancellor John McDonnell has slammed Chancellor Philip Hammond’s speech on the financial services industry, arguing that this priority was to protect financial services, rather than ensuring a good deal for every sector
09/03/2018
Sin stocks such as tobacco are increasingly posing potential regulatory risks to pension scheme portfolios, it has been noted
08/03/2018
The assertion that financial services cannot be part of a free trade agreement between the UK and the EU post-Brexit must be challenged, Chancellor Philip Hammond has said, highlighting that it is not a “zero-sum game, where any loss of market share in London is automatically a gain to another EU Capital"
08/03/2018
Eighty-per cent of employers feel as though their employees are not saving enough for their retirement, according to a study conducted by WEALTH at work
08/03/2018
Lloyds TSB agreed to “remove” £800,000 of fees due to be paid to PwC from its 2008 accounts in order to avoid breaching internal rules governing auditor independence, according to documents revealed in a High Court battle
08/03/2018
The FCA has today announced that Alex Hope has pleaded guilty to perverting the course of justice
08/03/2018
Women experience higher levels of debt, more career breaks and lower paid work, according to statistics released by HMRC on 6 March 2018. The figures indicate that, on average women not only earn less, but their income peaks at a much younger age
08/03/2018
Thousands of people who took advantage of the government’s Help to Buy mortgage scheme could be facing expensive fees on their existing loans, as they near the end of their five-year interest free period
07/03/2018
Total pension liabilities of the UK rose by just over £1trn, to £7.6trn, between 2010 and 2015, latest figures published by the ONS have shown
07/03/2018
The preference for longer-term mortgage products has overtaken two-year deals for the first time in five years, with 48% of mortgage customers choosing a term of five years or more during Q4 2017, compared to 41% in Q3 2017, according to Paragon’s FACT (Financial Adviser Confidence Tracking) index report
07/03/2018
A pensions cold calling ban is to be put in place by June this year, as the government has tabled an amendment to the Financial Guidance and Claims Bill
07/03/2018
Anyone with offshore assets is being warned to make sure they disclose them, or they could face new, tougher penalties
07/03/2018
House prices in the last three months to February were 1.8% higher than in the same three months a year earlier, slowing from the 2.2% annual growth recorded in January, according to the latest Halifax House Price Index
07/03/2018
Fully investing the maximum ISA allowance (£186,560) with a lump sum investment each year in the average investment company since ISAs were introduced in 1999 would have grown to £436,894 by the end of February 2018, research from the Association of Investment Companies has shown
07/03/2018
Vida Homeloans has introduced a new maximum LTV of 90% for first time buyers on its specialist residential range, along with a 100% discounted purchase price for right to buy and a new maximum loan amount of £1.5m
07/03/2018
People of all generations should contribute towards the rising costs of health and welfare and suggests introducing higher capital taxes to avoid “putting the entire tax burden on young people who are already struggling to match the living standards gain of older generations”, according to Resolution Foundation executive chair Lord David Willetts
06/03/2018
The Pensions Regulator has appointed David Fairs as its executive director for regulatory policy, analysis and advice, effective July 2018
06/03/2018
Hermes Investment Management has recognised that to close its gender pay gap of 30.2%, it needs to “increase senior female representation across the firm”
06/03/2018
NS&I is cutting the rate on its 3-year guaranteed growth bonds from 2.2% to 1.95%, and the rate on its 3-year guaranteed income bonds from 2.15% to 1.9% on 10 April 2018
06/03/2018
Bankhall, a firm that provides support to regulated financial advisers, is “urging advisory firms not to delay embedding the new MiFID II aggregated costs and charges requirements”
06/03/2018
The FCA has banned the former chair of Co-op Bank from the financial services industry
06/03/2018
A radical simplification of the UK’s ISA framework should be implemented as soon as possible, a Committee comprising MPs and industry experts has said
06/03/2018
“Informed inertia” is required to ensure that members remain auto-enrolled up to and following the planned contribution rises this year and in 2019, Now Pensions director of policy Adrian Boulding has said
06/03/2018
Defined benefit transfer values remained stable throughout February, rising by just £1,000, according to the Xafinity Transfer Value Index
06/03/2018
An IHT gifting allowance update to £11,000 could cascade £82.6bn to lower generations, Old Mutual Wealth has said
05/03/2018
Tax bands should be scrapped to allow a more progressive system that would give money back to most taxpayers while raising the same amount of revenue, according to the Institute for Public Policy Research
05/03/2018
The FCA has fined Guillaume Adolph £180,000 and banned him from performing any function in relation to any regulated financial activity
05/03/2018
Liberal Democrat pensions spokesman Stephen Lloyd has called for a ban on contingent charging for advice on pension transfers following the scandal surrounding the British Steel Pension Scheme (BSPS)
05/03/2018
Trustees are using pension schemes’ funds to pay for independent financial advice for their members, it has emerged
05/03/2018
Two thirds (68%) of new mortgages approved in 2017 were with the Big Six lenders, amounting to just over 1 million in total, according to research from online mortgage broker, Trussle
05/03/2018
Two friends lost more than £650,000 of their retirement pots as a result of the recommendations given by their financial adviser, who has now liquidated his firm, Knightsbridge Financial Management, and set up a new business, Knightsbridge Personal & Corporate Solutions.
05/03/2018
Over 39% of ‘second-time buyers’ (second steppers) are concerned about interest rates increasing and 35% believe that it will be more difficult to sell their home this year, according to Lloyds Bank, which has recently launched their Second Stepper report
05/03/2018
Investors are set to be paid £34m in compensation from asset managers overcharging them for investment funds, with another asset manager being pursued by the FCA
05/03/2018
“Welcome news for savers with cash in the bank can be a warning of challenges ahead for shares and bonds”, SVM Asset Management has reported
02/03/2018
Cryptocurrencies are “failing” in fulfilling the roles of money, Bank of England governor Mark Carney has stated
02/03/2018
OneSavings Bank revamps ICR requirements; Newbury Building Society joins Legal & General Mortgage Club; and more...
02/03/2018
The government yesterday hit its target on reducing the deficit in public finances – two years after former Chancellor George Osborne initially promised
02/03/2018
An average defined contribution pension pot could grow by 30 per cent as the minimum auto-enrolment contribution rises to 5 per cent in April
02/03/2018
The Competition and Markets Authority has published a working paper on its investigation into investment consultants’ fees and quality, finding that information on fees for trustees is “limited”
02/03/2018
The MoneyAge website has been re-designed ensuring all our readers have a smoother news experience
01/03/2018
Mortgage approvals for both property purchasing and remortgaging increased in January by 9.3% and 5.4% respectively, figures released by the Bank of England (BoE) revealed today
01/03/2018
Annual house price growth has slowed to 2.2% and prices are falling 0.3% month-on-month, according to Nationwide’s most recent house price index (HPI) for February 2018
01/03/2018
The Post Office Limited Section of the Royal Mail Pension Plan has secured its defined benefit liabilities through a £450m bulk annuity transaction with Rothesay Life
01/03/2018
The Minister for Pensions Guy Opperman has admitted that the April rise to auto-enrolment contributions is his “biggest hurdle” to implementing the government’s 2017 AE Review recommendations
01/03/2018
Auto-enrolled members of workplace pension schemes have been largely “side-lined” out of investment decisions, with only one UK provider having a member on its board, it has been highlighted
01/03/2018
The deficit of all UK private sector schemes has fallen by £75bn in the 12 months to 28 February 2018, JLT Employee Benefits has reported
01/03/2018
From tomorrow, 1 March 2018, all pension providers offering an annuity option to scheme holders will be required to show a market comparison alongside their offer, allowing consumers to judge whether they are being offered the best package
28/02/2018
The government is "pressing ahead to accelerate the state pension age" on a "flawed basis", Shadow Secretary of State for Work and Pensions Debbie Abrahams has said
28/02/2018
“There have been some real barriers to women investing”, SavvyWoman founder, Sarah Pennells, has said at a roundtable in London this week
28/02/2018
Annual revenues from unarranged overdrafts among five of the largest providers were around 200 per cent of the average amount outstanding, according to FCA chief executive Andrew Bailey
28/02/2018
Personal pension contributions hit a record high in 2016/17 with £24.6bn being paid into personal pensions – up from £24.3billion in 2015/16
28/02/2018
The overall cost of tax relief rose only slightly from £38.5bn in 2015/16 to £38.6bn in 2016/17, representing a stabilisation after some large increases in previous years, according to latest figures
28/02/2018
The FCA has today published its final policy statement on new rules for the credit card market. The FCA estimates the changes will save consumers between £310m and £1.3bn a year in lower interest charges
27/02/2018
The FCA has today imposed a fine of £1,976,000 on credit card lender, Vanquis, for failing to disclose the full price of an add-on product, called Repayment Option Plan (ROP)
27/02/2018
Annuity pricing for 2018 is set to remain attractive as it continues to deliver better yields than comparable low-risk assets for pensioner transactions, Aon has found
27/02/2018
Many workers face a “pension lottery” when retiring, the TUC has warned
27/02/2018
Three warnings have been issued around the failure to meet the LISA transfer deadline
27/02/2018
UK savers would be £46bn richer today if they had invested in stocks and shares ISAs rather than cash ISAs, suggests data compiled by UBS Smartwealth following Freedom of Information requests
27/02/2018
A 1% interest rate rise would add £10bn to the UK’s mortgage bill, ultimately adding £930 a year to the cost of servicing the average mortgage, according to new analysis from international property adviser, Savills
27/02/2018
The founder of Retirement Income Alliance Malcolm Small has died at the age of 62
26/02/2018
Credit card spending in January 2018 was 5.8% higher than what it was in January 2017, UK Finance has found. However, due to higher repayment levels, the pace of borrowing saw a minor change with an annual growth of 4.8%
26/02/2018
During the period leading up to the implementation of MiFID II last month, Adviser Rankings found that brokers specialising in the mid-cap space experienced the fastest growth in clients
26/02/2018
The former financial director of Carillion, Richard Adams, "dumped" all of his shares in the outsourcing firm for £776,000, just a few months before its share price tanked, it has been revealed
26/02/2018
The UK’s new open banking initiative may provide a £1bn boost to the economy, according to a new study from the Centre for Economics and Business Research (CEBR) and Trustpilot
26/02/2018
Aberdeen Standard Investments is setting up a new EU base in Dublin to mitigate the fallout of Brexit
26/02/2018
UK master trust Now: Pensions has been put up for sale following continued administration problems, it has been revealed
26/02/2018
The finance director of Carillion, Richard Adam, thought funding the firm’s pension schemes was a “waste of money”, it has emerged
26/02/2018
Former BHS owner Dominic Chappell has been told to pay £87,170 for breaching Section 72 notices under the 2004 Pensions Act, it has been revealed
26/02/2018
Over 750,000 people nearing retirement are at risk of leaving their pension to the wrong person when they die, according to research carried out by Royal London, and those aged between 55 and 64 are most vulnerable
26/02/2018
The expected annual income for divorcees retiring in 2018 is £17,600 compared to £21,400 for those who have never been divorced, Prudential has found
23/02/2018
MPs are calling for new transparency measures to tackle tax avoidance in overseas territories
23/02/2018
Those on volatile incomes , such as zero-hour contracts or in part-time work, are five times more likely to turn to high-cost credit products such as rent to own and doorstep lending, Citizens Advice has recently found
23/02/2018
Asset managers are looking to clamp down on the controversial ‘last look’ practice which allows banks and brokers to reject orders even after a price has been agreed
23/02/2018
UK GDP growth rose by just 0.4% in the fourth quarter of 2017, 0.1 percentage points down from its first estimate, according to the Office for National Statistics
23/02/2018
Standard Life Aberdeen is to sell its insurance business to Phoenix Group in a £3.2bn deal
23/02/2018
Brilliant Solutions, the specialist provider of solutions for mortgage intermediaries, has add-ed Masthaven to its panel of lenders
23/02/2018
RBS, which is majority-owned by the taxpayer, has announced a statutory profit of £752m in 2017. The bank hasn’t seen a full year of profitability since 2007, and this is a vast improvement over the £7bn loss posted in 2016
23/02/2018
InterBay Commercial, part of specialist lending group OneSavings Bank, has decided to extend its residential investment and commercial bridging finance proposition to its entire broker panel, allowing a much wider market to take advantage of their offer, following a successful trial in 2017
22/02/2018
The FCA is introducing new measures to encourage consumers looking to buy a lifetime income through an annuity at the point of retirement to shop around
22/02/2018
AJ Bell has held a beauty parade of investment bankers in the last few weeks to prepare for an initial public offering (IPO), Sky News has reported.
22/02/2018
NatWest is testing an artificial intelligence-powered "digital human" to help customers with basic banking questions, raising the possibility of further job cuts at the state-controlled bank
22/02/2018
The Treasury Committee is today launching a new inquiry into digital currencies
22/02/2018
Only small changes to existing law is needed to introduce collective defined contribution schemes and all members will have the right to transfer out, it has been claimed
22/02/2018
The number of pension credit claimants has dropped to 1.8 million as of August 2017, according to the latest statistics from the Department for Work and Pensions
22/02/2018
HM Revenue and Customs has clarified the rules around pensions tax relief for the new Scottish income tax bands, allowing those paying the intermediate rate of 21 per cent to claim back the additional 1 per cent due on their contributions
22/02/2018
Lloyds Banking Group has announced plans to increase its financial planning and retirement market by a million customers and increase its open book assets by £50bn in three years
21/02/2018
Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets

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