More Archive News

A new legislative and regulatory regime requiring defined benefit superfunds to be authorised will be put in place under new plans announced by the government today, 7 December
07/12/2018
The Chartered Institute of Taxation (CIOT) has warned the government that “constant tinkering” with left field changes to tax rates and allowances undermines the consistency that taxpayers and businesses crave, and risks reducing international competitiveness
07/12/2018
Royal Bank of Scotland (RBS) is advancing plans to transfer billions of pounds worth of assets to the Netherlands next March is Britain departs from the European Union (EU) without a deal
07/12/2018
Annual house price growth across the UK in the three months to November was 0.3% higher compared to the same three months a year earlier, the latest Halifax House Price Index has revealed
07/12/2018
Pension scheme members that take advantage of the pension freedom reforms without taking advice first, risk paying too much tax, LEBC director of public policy, Kay Ingram, has warned
06/12/2018
The Financial Conduct Authority (FCA) has expressed its disappointment to have found that less than 50 per cent (49 per cent) of the pension transfer advice it reviewed was deemed as “suitable”
06/12/2018
Brexit secretary Stephen Barclay has pledged to increase state pensions of UK nationals living in the European Union (EU) in the event of a no-deal, though the EU must reciprocate the agreement
06/12/2018
Four in five (80 per cent) of pension schemes think they are likely to become cash flow negative within the next five years, according to research by PwC
06/12/2018
Investors fled the markets in October, with net outflows of £1.6bn throughout the month, compared to inflows of £5.3bn last October, the latest Investment Association figures revealed
06/12/2018
Today the Financial Conduct Authority (FCA) has revealed that it found “some inconsistencies” in how mortgage lenders treat customers who have long-term mortgage arrears
06/12/2018
Both the Chartered Institute of Taxation (CIOT) and the Low Incomes Tax Reform Group (LITRG) have welcomed the publication of a major new report published by the House of Lords Economic Affairs Committee on HMRC powers and taxpayer safeguards
05/12/2018
The state pension age begins increasing to the age of 66 from 65 today, as analysis by Aegon reveals the proportion of people in receipt of the state pension has dropped in the past 10 years
05/12/2018
Bank of England (BoE) governor Mark Carney yesterday reassured his critics in front of an audience of MPs that his recent Armageddon scenario was not an “exam crisis”
05/12/2018
Financial advisory firms are crumbling under the pressure of a dwindling talent pool and a shortage of specialist skills as competition heats up, according to new research from EY
05/12/2018
The total deficit of FTSE 350 DB pension schemes fell to £17bn, as of 30 November, according to research from Mercer
05/12/2018
Pensions Minister Guy Opperman has confirmed that the auto-enrolment earning threshold will stay frozen at £10,000 for 2019/20
05/12/2018
Young people whose parents have property wealth are now almost three times as likely to be homeowners by the age of 30, compared to those whose parents have no property wealth, according to a new report published by the Resolution Foundation
04/12/2018
The number of people visiting the ScamSmart website increased from 31,000 in the 55 days prior to the launch of the campaign to 173,000 in the 55 days after
04/12/2018
Peer-to-peer lender Zopa has recently announced that it has acquired its banking license, following up on hints that it would launch a bank
04/12/2018
Powers granted to HM Revenue & Customs (HMRC) to combat tax avoidance have been have been deemed to risk undermining the rule of law and access to justice, a House of Lords report has concluded
04/12/2018
The Financial Conduct Authority (FCA) has written to banks warning them about moving business away from the UK in a bid to combat the implications of Brexit
04/12/2018
The government has released its dashboard consultation and feasibility study, which has revealed its plan to have multiple pensions dashboards
04/12/2018
Workers approaching retirement have named not having enough money as their biggest retirement fear, according to data from Hargreaves Lansdown
04/12/2018
One Mortgage System (OMS), the processing platform for brokers, has boosted its specialist lending offering with the addition of The Mortgage Lender (TML); and more...
03/01/2018
The combined deficit of FTSE 100 pension schemes dropped by £21bn to £1bn over the past 12 months, according to JLT Employee Benefits' latest monthly funding update
03/12/2018
The TaxPayers’ Alliance (TPA) campaign group has called for lower taxes as the poorest families struggle to cope with the current levels
03/12/2018
Prime Minister Theresa May has reaffirmed her support for the delivery and launch of the pensions dashboard
03/12/2018
A leading think tank has called on the government to abolish stamp duty for pensioners in a bid to encourage downsizing and to free up homes for younger families.

The new report from Policy Exchange revealed there are approximately 1.1 million homes in England with two or more spare bedrooms that are lived in by a single person aged over 65. According to the report, the lower stamp duty band, which sees a 2 per cent tax levied on properties priced between £125,000 and £250,000, should be abolished for “older people”
03/12/2018
Advisers are increasingly optimistic about the future of the industry with growing numbers predicting expansion and happy to recommend financial advice as a career, new research from Prudential has revealed
03/12/2018
A judge has granted permission for a judicial review to be conducted to look into the alleged mishandling of raising the state pension age for women born in the 1950s
03/12/2018
The Help to Buy scheme has seen a 15% year-on-year increase in its use in England, with 49,264 properties being purchased, while in London its use has risen by a staggering 34%, new data has revealed
30/11/2018
Nearly all employers (97 per cent) are planning on either maintaining or increasing their spending on employee benefits over the next two years, according to new research from the CIPD and LCP
30/11/2018
The deficit of UK defined benefit pension funds at the end of November was £230bn, the same level as the end of the previous month, according to new data from PwC
30/11/2018
Hargreaves Lansdown Lifetime ISA (LISA) bonuses hit £50m this month, the firm has revealed
30/11/2018
Almost one-third of 25-44 year-olds have received no form of correspondence from any of their pension providers, new research has found
30/11/2018
Danske Bank was yesterday charged on four counts of breaking Danish money-laundering laws following a tremendous scandal at its Estonian affiliate
29/11/2018
Just under a quarter (23 per cent) of people believe their retirement is likely to be a financial struggle, according to new research from Aviva
29/11/2018
All of the UK’s largest banks passed intensive stress tests as the Bank of England (BoE) heralded the resilience of the UK’s financial system, it was revealed yesterday
29/11/2018
One of the UK’s leading tax specialists, DSR Tax Claims, has called for changes to the taxation system to make it fairer for taxpayers, while also creating financial efficiencies
29/11/2018
Trade association PIMFA has called for an urgent review of the Financial Services Compensation Scheme (FSCS) following yet another announcement of an interim levy that the industry will be expected to fund
29/11/2018
The Financial Services Compensation Scheme (FSCS) has confirmed that it will increase its retail pool levy by £69m to cover its running costs
29/11/2018
The Competition and Markets Authority’s (CMA) Phase 2 investigation has provisionally identified that Experian’s purchase of ClearScore is likely to result in less intense competition, which in turn could damage the continued development of digital products
28/11/2018
Those under the age of 40 are savvy when it comes to their saving habits, but are failing to focus on their pension and retirement planning, according to new research from The Nottingham Building Society
28/11/2018
Baby boomers may be enjoying a “financial golden age”, but one in three (33 per cent) approaching retirement do not feel that they will have enough savings to retire on, according to new research from LV=
28/11/2018
Personal Finance Society (PFS) CEO Keith Richards has argued that the relevance and demand for professional financial advice has never been great, as we are currently experiencing the “biggest savings gap since records began”
28/11/2018
Further to its announcement yesterday morning detailing its intention to proceed with its initial public offering (IPO), investment platform provider AJ Bell has confirmed that its price range prospectus has been approved by the Financial Conduct Authority (FCA)
28/11/2018
The requirement for pension providers to guide consumers towards Pension Wise for advice does not come early enough, according to Royal London director of policy, Steve Webb
28/11/2018
Savers who want to retire at 65 will need to “bridge the gap” created by the increasing state pension age and gender equalisation to ensure a comfortable retirement, according research from Aegon
27/11/2018
More people have cashed their pension pot entirely after consulting Pension Wise (28%), when compared to those who have not utilised the service (17%), new research has revealed
27/11/2018
The plenary of the Financial Stability Board (FSB) today appointed Randal K. Quarles (governor and vice chairman for supervision at the US Federal Reserve) as its new chair, while Klaas Knot (president of De Nederlandsche Bank) as vice chair
27/11/2018
Following its announcement on 19 November of its intention to proceed with an initial public offering (IPO), AJ Bell has today announced the price range and its intention to publish the prospectus later today
27/11/2018
Just 24 per cent of 40 to 79 year-olds receiving professional financial advice are women, new data from Selectapension has revealed
27/11/2018
Owners of financial advisory firms are able to build a sustainable business, one that they can leave to their employees, using an Employee Ownership Trust (EOT), according to Ovation Finance founder Christopher Budd
26/11/2018
Nearly six in 10 retirees aged between 50-65 were forced to quit work rather than choosing to leave because they did not need the income, according to new research from Just Group
26/11/2018
Vida Homeloans has announced several changes to its senior management team, which have been designed to support the further growth of the lender in the UK specialist mortgage market
26/11/2018
Her Majesty’s Revenue & Customs (HMRC) has admitted that some scheme members are getting tax relief twice, while others are not receiving the tax relief they are due
26/11/2018
Advisers are increasingly optimistic that partnerships with accountants and solicitors will help drive new business in the coming year, according to new research published by Prudential
26/11/2018
A government scheme introduced to refund large numbers of people who have been overcharged when registering a power of attorney (PoA) has been criticised by Royal London, with spokesperson Helen Morrissey stating “the onus is on the government to sort it out”
26/11/2018
Young workers risk being overconfident in their pension savings, which could cost them in the long run, according to research from BlackRock
26/11/2018
The number of mortgages approved by the main high street banks in October dropped by 4.1%, when compared to the number of approvals on October last year, according to UK Finance’s Household Finance Update – October 2018
26/11/2018
The government should implement a fully integrated digital system for Inheritance Tax, ideally including the ability to complete and submit a probate application, The Office of Tax Simplification has recommended
23/11/2018
Women affected by the equalisation of the state pension age, and the lack of communication thereafter, have been left in a “grotesquely disadvantaged” situation, according to Work and Pensions Committee chair, Frank Field
23/11/2018
Up to eight out of 10 pension schemes’ employers could face additional costs due to the High Court ruling on GMP equalisation, according to XPS Pensions Group (XPS)
23/11/2018
Less than one in ten (7 per cent) clients of retirement age claimed their adviser has introduced themselves to their adult children, according to new research from Zurich
22/11/2018
One in five (22%) people have fallen victim to credit card fraud in the last year, with an estimated £4.1bn having been stolen from 11.4 million consumers, research has found
22/11/2018
Dutch bank ABN Amro has decided to launch a London unit of its clearing business to maintain access to the UK market in the event of a no-deal Brexit
22/11/2018
The Financial Conduct Authority (FCA) has today proposed to introduce a price cap on the rent-to-own (RTO) sector
22/11/2018
Guy Opperman has defended the amount of newspaper coverage that state pension age equalisation has received, following complaints about the lack of communication
22/11/2018
The Financial Reporting Council (FRC) has initiated an investigation into the audit conducted by Grant Thornton UK of the financial statements of Patisserie Holdings for the years ending 30 September 2015, 2016 and 2017
21/11/2018
First-time buyers have saved a tremendous £426m in stamp duty, taking advantage of the government’s stamp duty relief introduced in November 2017, according to HM Revenue & Customs (HMRC) Quarterly Stamp Duty Land Tax Statistics
21/11/2018
Retirees are not taking action on their concerns about the impact of market volatility on their retirement income sustainability, according to new research from Aegon
21/11/2018
Fears that the Lifetime ISA (LISA) could create a surge in auto-enrolment (AE) opt-outs appear to be misplaced, as a recent LISA study conducted by AJ Bell revealed that the vast majority (78%) of people contribute towards both the product and their workplace pension
21/11/2018
Savers must have flexibility in the future pensions landscape to combat key challenges, Pensions Policy Institute (PPI) research has said
21/11/2018
There were 11,700 new first-time buyer mortgages completed in London during the third quarter of 2018, illustrating a 2.6% increase on the same period las year, figures from UK Finance have revealed
21/11/2018
Growth in fiduciary management mandates has slowed in 2018, growing by 9 per cent in the 12 months to June, compared to 30 per cent in 2017, analysis by KPMG has found
20/11/2018
Just under two thirds (61%) of millennials feel like they overspend on entertainment, such as on nights out and trips to the cinema, with a further 34% believing they spend too much on eating out, a study has revealed
20/11/2018
Former footballer Danny Murphy has accused some financial advisers of “brainwashing” young footballers
20/11/2018
Poor choices in pension savings can lead to people feeling “depressed in later life”, according to the English Longitudinal Study of Ageing (ELSA) study
20/11/2018
The creation of a ‘Pensions Pound’ could lead to “radical simplification” of defined benefit pension rights, the Association of Consulting Actuaries (ACA) and Royal London have suggested
19/11/2018
With the personal allowance set to increase to £12,500 in April 2019, the amount of tax relief being missed for those savers in net pay schemes will increase to £64 per year, new research has revealed
19/11/2018
Women’s pensions pots are 27.5 per cent smaller than men's, of those who shop around for a high guaranteed life income, according to LEBC analysis
19/11/2018
Following its announcement on 8 November 2018, investment platform AJ Bell has today confirmed its intention to proceed with an initial public offering (IPO).

The firm intends to apply for admission of its ordinary shares to the premium listing segment of the Official List of the Financial Conduct Authority (FCA), and to trading on the London Stock Exchange’s main market for listed securities
19/11/2018
Prime Minister Theresa May has appointed Amber Rudd, MP for Hastings and Rye and former Home Secretary, as the new Work and Pensions Secretary, replacing Esther McVey
16/11/2018
Specialist bank Aldermore has today announced the interest rate increases on its fixed-rate cash ISAs
16/11/2018
A majority of advisers (75%) are becoming increasingly convinced that robo-advice can help close the advice gap, exclusive research from Prudential has revealed
16/11/2018
The recent High Court judgement on GMP equalisation could mean that up to £50bn of buy-ins may need to be “restructured”, Aon has suggested
16/11/2018
Over half (53 per cent) of income drawdown customers are withdrawing an income that is not sustainable for the rest of their life, according to analysis by Royal London
15/11/2018
The Royal Bank of Scotland (RBS) yesterday appointed a new deputy chief executive to head ring-fenced bank NatWest Holdings
15/11/2018
More than 156,000 pensioners who keep their pot invested throughout retirement do not have a cash “safety net” in the event of a falling market, Zurich has found
15/11/2018
Those in their 30s are the savviest savers, setting aside 58% of their disposable income per month, 16% more than the national average of 42%, according to research published by Charter Savings Bank
15/11/2018
Dominic Raab has resigned as Brexit Secretary, stating in a tweet that he “cannot in good conscience support the terms proposed for our deal with the EU”
15/11/2018
The number of money-back mortgages available to consumers has plummeted by a staggering 82% in the last six months, according to a study conducted by CashbackRemortgages.co.uk
14/11/2018
UK pension savers need to save seven times their annual household income by the time they hit 68, in order to maintain their lifestyle in retirement, Fidelity International has found
14/11/2018
Increases to the state pension age mean approximately 670,000 people each year will have to wait longer before benefitting, while the government could save £11bn a year in this time, according to analysis from Aegon
14/11/2018
Seventy-four per cent of defined contribution members are interested in comparing the performance of their pension scheme with others in the market, it has been revealed
14/11/2018
Despite worrying levels of debt, almost half (46%) of consumers claimed that they did not need any advice, according to a report published by Arrow Global
14/11/2018
Half of people have not switched savings accounts or cash ISA in the past five years, with 40% having never switched, Hargreaves Lansdown has revealed
14/11/2018
The Pensions Minister Guy Opperman has put “pressure” on the financial services industry to do more to ensure the financial wellbeing of their employees
13/11/2018
The aggregate deficit of schemes in the PPF 7800 Index increased by £69bn over October, the Pension Protection Fund has revealed
13/11/2018
Throughout September, there were 29,400 new homemover mortgages completed, approximately 8.4% lower when compared to September 2017, revealed the latest Mortgage Trends Update from UK Finance
13/11/2018
The new owner of Virgin Money has terminated the bank’s partnership with a digital venture launched by former Barclays chief executive Antony Jenkins
13/11/2018
DB pension schemes and advisers have been left unsure of how to proceed with pension transfers following the High Court ruling on guaranteed minimum pensions (GMPs), according to Royal London
12/11/2018
Though half of today’s over-40s have a basic understanding of the key retirement factors that will influence their retirement decisions, one in 14 are at “high risk” of failing to meet their requirements, according to new data published today
12/11/2018
The Bank of England (BoE) and the People’s Bank of China have today announced that they have signed an agreement to renew the existing reciprocal sterling and renminbi (RMB) currency swap line for an additional three years
12/11/2018
Today’s school leavers have higher levels of financial literacy than adults aged between 19 and 39, suggesting that financial education is English secondary schools is having a positive impact, according to a study from Noddle
09/11/2018
Registration is now open for the 2019 Sustainability Summit, which offers pension funds, insurance companies, charities and corporates the chance to learn and network alongside their peers
09/11/2018
Over half of young Brits are ‘living hand to mouth’, with a majority of those aged between 21 and 38 spending 41% of their income on rent or a mortgage and bills, new data has revealed
09/11/2018
The Treasury Committee has today announced a probe into vulnerable customers and how they are served by the financial services industry
09/11/2018
Defined benefit pension transfer values fluctuated and had the biggest monthly change for over a year during October 2018, increasing by the end of month to £235,000
08/11/2018
Consumer finance new business dropped by 1% in September when compared to the same month last year, according to data published by the Finance & Leasing Association (FLA) today
08/11/2018
The proportion of British adults claiming they want to move from renting to buying their next home has more than doubled over the course of 2018, increasing from 24% to 58%, new data has revealed
08/11/2018
Twenty-nine per cent of pension savers said they would invest more into their pension if they knew the Financial Services Compensation Scheme (FSCS) protected it, new research has revealed
08/11/2018
House prices in the three months to October were 1.5% higher when compared to the same three months in 2017, slowing from the 2.5% annual growth recorded in September, and recording the slowest rate of growth since March 2013, new data revealed
07/11/2018
Despite the common assumption that the younger generation is more tech savvy, more than three in ten (31%) of 16 to 24 year olds have been a victim of online shopping fraud, compared with only 12% of over 55s, Shieldpay revealed
07/11/2018
A rise in passive investing can “co-exist” alongside investors’ desire to preference investments that embody their values and longer-term goals, the Financial Conduct Authority has said
07/11/2018
More than half (54 per cent) of self-employed workers would welcome further government support in pensions saving, according to research conducted by Prudential
07/11/2018
Retired homeowners are increasing their finances by an average of £76,967 as the equity release market continues to break records, according to new data from the UK’s leading independent equity release adviser Key
07/11/2018
The Financial Conduct Authority (FCA) is probing HSBC executive Paul Watson, whose online title is listed as head of regulatory compliance for the global banking and markets (GBM) division, Sky News has reported
07/11/2018
The Department for Work and Pensions (DWP) has launched its consultation on collective defined benefit (CDC) schemes
07/11/2018
Since 1997, house prices have rocketed by 173% while those aged between 25 and 34 have only seen real incomes increase by 19%, stated Financial Conduct Authority (FCA) executive director of strategy and competition Chris Woolard
06/11/2018
Although Universal Credit is now better equipped for the final phase of its roll-out thanks to measures announced in Chancellor Philip Hammond’s Budget, Resolution Foundation senior fellow David Finch stated that “challenges remain”
06/11/2018
Specialist buy-to-let mortgage lender Landbay has today announced its new partnership with TMA Club, which will allow the firm to provide brokers and their landlord clients with access to its specialist lending products; and more...
06/11/2018
HM Revenue & Customs (HMRC) has found itself caught in several tax battles, as the average age of unsettled tax disputes with the UK’s largest organisations climbs
06/11/2018
The collective FTSE 350 pension scheme deficit hit £36bn over October in the “largest swing in month end deficits” since August 2016, Mercer has said
06/11/2018
More than one in four (27 per cent) people aged over 55 do not realise that they have to pay tax on pensions savings if they take the money as cash, according to new research from Legal & General (L&G)
05/11/2018
The tendency for a growing number of workers to become self-employed is leaving thousands of people with huge sums of debt, according to The Money Advice Trust
05/11/2018
Paragon is today expanding its buy-to-let mortgage range to include mortgages for expat landlords with rental property in the UK and UK holiday lets; and more...
05/11/2018
Women’s state pension age will be equal to men’s state pension age from Tuesday the 6 November, after legislation was first passed in 1995
05/11/2018
Flexible pension withdrawals hit a record high of 585,000 in Q3 2018, according to HMRC, up from 574,000 in Q2 2018
02/11/2018
UK homeowners should be handed back £181m of easy remortgage commissions that have been earned over the past year, as brokers are not doing “anywhere near enough” to earn them, according to CashbackRemortgages.co.uk founder Suchit Sethi
02/11/2018
Published alongside the Budget on Monday, the Overview of Tax Legislation and Rates revealed that reforms to HM Revenue & Customs (HMRC) penalty regimes are to be further delayed until April 2021 at the earliest
02/11/2018
House prices grew at their slowest annual rate since May 2013 in October, according to Nationwide’s latest House Price Index
02/11/2018
An accountant has been fined £6,857.50 for falsely telling The Pensions Regulator that one of his clients’ staff, for which he acted on its behalf, had been enrolled into a pension scheme
02/11/2018
The Bank of England’s Monetary Policy Committee (MPC) yesterday, 31 October, voted unanimously to maintain its base rate at 0.75%
01/11/2018
Specialist bank Aldermore has today reduced the rate on its two-year fixed 95% LTV mortgage product, with the change coming into effect immediately
01/11/2018
The combined defined benefit deficit of schemes in PwC’s Skyval Index soared to £230bn at the end of October
01/11/2018
Advisers are increasing support for vulnerable clients and staff helping them as the sector responds to the growth in inquiries about later life advice, research conducted by Prudential revealed
01/11/2018
The UK has reportedly struck a deal with the EU on post-Brexit financial services
01/11/2018
Prime Central London house price growth could soar by 15% over the next five years if Britain signs a trade deal with the European Union (EU), according to a new report
01/11/2018
Over £38m has been reclaimed by savers who were overtaxed on their pension freedoms withdrawals in the third quarter of 2018, marking the highest figure on record, according to HM Revenue & Customs (HMRC) most recent Pension Schemes Newsletter
31/10/2018
Nearly half of women (49 per cent) do not feel confident that they will have a comfortable retirement, compared to 33 per cent of men, according to research from Aegon
31/10/2018
Discount mortgages starting at 0.99% have been added to Leeds Building Society’s variable rate residential range
31/10/2018
The “burden” of auto-enrolment will “ultimately be borne by workers” as the policy is set to directly impact projected wage growth, according to the Office for Budget Responsibility (OBR)
31/10/2018
NFU Mutual chartered financial planner Sean McCann has urged families to take the Chancellor’s advice and “plan for all eventualities”
30/10/2018
Published alongside the Budget yesterday, the Office for Budget Responsibility (OBR) revealed its fiscal outlook, which said the Treasury will net an extra £400m in tax as a result of people paying tax on their pension withdrawals
30/10/2018
Following on from yesterday’s Budget, Quilter financial planning expert Rachael Griffin noted that the government “reaffirmed its commitment to tackling tax avoidance and evasion”
30/10/2018
During yesterday’s Budget, Chancellor Philip Hammond announced that the cancellation of stamp duty for first-time buyers will be extended to first-time buyers of shared ownership properties valued at up to £500,000, which has been labelled as “only right” by Trussle CEO and founder Ishaan Malhi
30/10/2018
HMRC could be in line to jump ahead of pension schemes for funding when a business enters insolvency, is has been suggested
29/10/2018
The Chancellor Philip Hammond has paved the way to use billions of pounds of defined contribution pension money to fund fast-growing British technology companies
29/10/2018
Chancellor Philip Hammond has not made any cuts to the pensions allowances in his Budget, today 29 October
29/10/2018
As confirmed in today’s Autumn Budget by Chancellor Philip Hammond, National Savings and Investments (NS&I) has announced the minimum investment for premium bonds will be reduced from £100 to £25
29/10/2018
A feasibility study around the introduction of a no-interest loan scheme, an alternative to short term high cost credit has today been launched by Chancellor Philip Hammond
29/10/2018
Stamp duty is to be abolished for all first time buyers of shared ownership properties valued up to £500,000 applied retrospectively, Chancellor Philip Hammond has said today
29/10/2018
One million more women in their 20s could be saving more adequately for retirement if they were able to access emergency cash from their pension, according to a new report published by Scottish Widows
29/10/2018
Complaints to the Financial Conduct Authority (FCA) continued to increase for the fourth successive half year in the first half of 2018, reaching a new record level of 4.13 million complaints made to 3,161 firms
29/10/2018
Chancellor Philip Hammond will today launch a long-awaited consultation on introducing collective defined contribution (CDC) pensions in the UK, reports from this morning have suggested
29/10/2018
As Chancellor Philip Hammond prepares to deliver his Budget this afternoon, 34% of prospective first-time buyers have argued that they want the government to introduce policies to reduce the number of empty homes across the UK
29/10/2018
Lloyds has lost a landmark High Court case after it ruled that it must now equalise pensions benefits for men and women in what could have huge consequences for thousands of companies
29/10/2018
TMA Club has today announced an exclusive two-year discount deal for self-employed borrowers with Buckinghamshire Building Society
26/10/2018
Chancellor Philip Hammond is expected to unveil plans to use billions of pounds of defined contribution pension money to fund fast-growing British technology companies
26/10/2018
Ahead of the autumn budget, equity release lender more 2 life has revealed its ‘wish list’, calling on Chancellor Philip Hammond to provide greater support to the retirement lending sector
26/10/2018
Universal credit could leave some disabled people more than £300 a month worse off when compared to the previous system, revealed research from Citizens Advice
26/10/2018
Around 70 per cent of employers believe that The Pensions Regulator (TPR) needs more powers to help protect defined benefit pension schemes, according to research from the Association of Consulting Actuaries (ACA)
26/10/2018
Nearly one third of UK adults do not think they would be eligible to borrow any money in the form of a mortgage, research from comparethemarket.com has revealed
25/10/2018
The power tenants hold is growing across the UK, with 66% of landlords renting at below the market rate prepared to accept a reduction of up to £100 a month on the market value to secure reliable renters
25/10/2018
The average pension pot for a woman in the UK is five times less than a man’s, new research from the Chartered Insurance Institute (CII) has found
25/10/2018
Guildford has been labelled as the inheritance tax capital of the UK, with as many as 658 families subject to the tax in 2015/16, paying an average of £231,000 each
25/10/2018
Pension fund returns are becoming more subdued and withdrawal rates are increasing, according to new data from Moneyfacts UK
24/10/2018
Women who opt for a drawdown product have an income that is 37 per cent lower than men, according to new research by Zurich
24/10/2018
Gross mortgage lending across the residential market in September was £21.5bn, approximately 1.2% lower than the figure posted a year earlier, according to the latest statistics from UK Finance
24/10/2018
Millennials, aged between 18 and 34, are having to make sacrifices that were previously unheard of in previous generations to get onto the property ladder, according to a new study conducted by online mortgage broker Trussle
24/10/2018
National Westminster Bank (NatWest) has tripled its funding to prepare UK firms for Brexit, setting aside an additional £2bn to support companies which rely on EU exports, labour or foreign exchange rates
24/10/2018
Chancellor Philip Hammond is facing pressure from senior Conservative MPs to avoid tax hikes in next week’s budget, advising him to stay focused on economic responsibility and attracting investment to the UK
24/10/2018
Schroders and Lloyds Banking Group have today announced a wealth management strategic partnership and agreement to manage £80bn of Scottish Widows and Lloyds assets
23/10/2018
A marked upward trend for pension sales, partly fuelled by auto-enrolment and an equally marked downward trend in ISA sales are two of the main observations to arise from the FCA’s Retail Product Sale Data published today
23/10/2018
Nest has revealed its plans to encourage the self-employed to save more for their retirement, following its latest research that has identified three main sub-groups that the self-employed fall into
23/10/2018
Buy-to-let and specialist lender Fleet Mortgages has today announced the promotion of Graham Le Bas to the role of national sales manager
23/10/2018
More than three quarters (76 per cent) of people aged over-55 do not know that medical conditions or lifestyle choices could increase the money they receive from an annuity
23/10/2018
Ahead of the UK Budget this month, the Chartered Institute of Taxation (CIOT) has urged caution from the Chancellor on his suggestion to go it alone with a temporary new sales tax on digital multinational companies
23/10/2018
The proportion of landlords looking to remortgage is now at an all-time high, with them accounting for 57% of all buy-to-let (B2L) business in the third quarter of 2018, new research has revealed
23/10/2018
HM Revenue & Customs (HMRC) has expanded its probe into football, with almost 200 footballers now under investigation for alleged tax abuse linked to image rights payments
22/10/2018
The UK remained in 15th place in the Melbourne Mercer Global Pension Index for 2018, but has seen its overall score on the Index improve slightly
22/10/2018
Michael Barnier and the rest of the Brexit negotiating team want Britain to continue following EU tax policies after Brexit, a leaked document has suggested
22/10/2018
The Treasury is facing a £1bn drop in stamp duty from property sales this year, which has sparked fears that the property market is becoming clogged at the top end, with buyers avoiding heavy tax bills that come with expensive homes
27/10/2018
Workers in Central London can save an average of £483,342 by commuting up to an hour each day, according to new research from Lloyds Bank
22/10/2018
The Royal Bank of Scotland (RBS) is set indicate whether it plans to continue paying dividends this week, as British lenders reveal their third quarter results
27/10/2018
'Generation K', or those now aged between 15 and 24, are “very different” to previous generations and more must be done to engage them with pensions, according to economist and author Noreena Hertz
19/10/2018
Inheritance tax (IHT) receipts hit £2.8bn in the first six months of the tax year, and the Office for Budget Responsibility (OBR) has estimated that they will increase further to reach a record £5.4bn by the end of this tax year
19/10/2018
A record breaking £1.02bn in equity was released between July and September, equivalent to £11m of property wealth unlocked each day, revealed the Equity Release Council’s (ERC) latest quarterly lending figures
19/10/2018
The Pensions Minister has confirmed that there will be new pensions legislation in summer 2019, in a speech at the Pensions and Lifetime Savings Association’s annual conference yesterday, 18 October
19/10/2018
The winners of the third MoneyAge Awards 2018 were announced last night at a gala ceremony in London
19/10/2018
The pensions industry cannot afford to be complacent despite the success of auto-enrolment, Pensions and Lifetime Savings Association chair Richard Butcher has said
18/10/2018
Danish authorities have blocked the appointment of a new chief executive officer at Danske Bank, applying further strain on the firm which is currently reeling from a $200bn (£176bn) money laundering scandal, involving suspicious Russian money
18/10/2018
Bank of England (BoE) official Sir Jon Cunliffe told the Treasury Select Committee yesterday that talks are continuing with EU regulators to try to persuade them to allow British clearing houses to serve clients across the continent
18/10/2018
The growth of new lending to those already in debt has “parallels” to the sub-prime mortgage boom which resulted in the financial crisis, according to the minutes from a discussion by the Bank of England’s (BoE) top financial stability policy-makers
18/10/2018
The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have today launched a joint regulatory strategy aimed at strengthening their relationship, and taking joint action to deliver better outcomes for pension savers and those entering retirement
18/10/2018
The UK’s transition out of the EU could be extended by “a matter of months” to ensure no hard border in Northern Ireland, Prime Minister Theresa May has said
18/10/2018
The HSBC UK pension scheme will invest £250m in renewable energy in Britain, following a competitive tender process
17/10/2018
The Mortgage Lender has transformed its residential product range, introducing higher LTV’s, more targeted pricing, reduced completion fees and a cashback range in a bid to offer more tailored products to home buyers
17/10/2018
Following today’s publication of the inflation rate for September, Royal London director of policy Steve Webb has said that, whilst the rates of working age benefits have been squeezed for many years, “pensioners look set to enjoy another above-inflation increase”
17/10/2018
Average house prices in the UK have increased by 3.2% in the year to August 2018 and, despite being down from 3.4% in July 2018, have remained broadly stable at a national level since April 2018, new data has revealed
17/10/2018
Around 37 per cent of pension schemes are in surplus against their funding target, according to new data released by Mercer
17/10/2018
A group of 10 of the largest investment, savings and pensions trade bodies have endorsed a new joint venture aimed at delivering a long-term governance solution to transfers
16/10/2018
Leading wealth management and financial advice association PIMFA has today raised concerns over the Financial Conduct Authority’s (FCA) proposal to increase the maximum amount of compensation the Financial Ombudsman Service (FOS) can require a financial services firm to pay out
16/10/2018
Up to £20bn worth of pension pots could remain unclaimed, new research from the Pensions Policy Institute (PPI) has found
16/10/2018
The Institute for Fiscal Studies has today published its ‘Green Budget’ urging Chancellor Philip Hammond to introduce a pensions death tax
16/10/2018
There were 35,500 new first-time buyer (FTB) mortgages completed in August, approximately 2% more than the same month a year earlier, representing £6.1bn of new lending, a 5.2% increase year-on-year, according to the latest figures from UK Finance
16/10/2018
Just one month remains to enter the Retail Asset Management Awards 2019
16/10/2018
With the budget fast approaching, mutual provider Foresters Friendly Society has highlighted the importance of the Lifetime ISA (LISA) in supporting home ownership and retirement ambitions of younger savers
16/10/2018
National Savings & Investments (NS&I) has recently revealed that 14% of Britons (7 million people) think they may have lost track of a financial product, drawing attention to the staggering amount of money left dormant with UK financial services providers
16/10/2018
Chancellor Philip Hammond will have to squeeze an extra £19bn out of taxpayers by 2022/23 to meet Prime Minister Theresa May’s promise to end austerity, while also keep his pledge to eliminate the deficit, according to a detailed analysis from one of the UK’s trusted economic bodies
16/10/2018
The Financial Conduct Authority (FCA) has written to the heads of payday lending firms urging them to consider “affordability risk” before granting loans to financially vulnerable borrowers
16/10/2018
Almost 60% of payday loan users have been forced to pay back more than they expected as a result of hidden or unexpected fees charged by lenders, revealed new research from Kantar TNS
15/10/2018
The Financial Conduct Authority (FCA) gas today published a discussion paper on climate change and green finance
15/10/2018
Pensions freedom and choice could result in a tax revenue increase of £19bn over the next 10 years, according to the latest research from the Pensions Policy Institute (PPI)
15/10/2018
The proposed changes from the Financial Conduct Authority (FCA) designed to reduce the potential for harm to retail investors in funds that hold illiquid assets, will “enhance risk-management capabilities, transparency and resilience”, Moody’s Investor Services has said
15/10/2018
Seventy-eight per cent of employers think that the pensions tapered annual allowance should be re-thought, according to the Association of Consulting Actuaries
15/10/2018
Chase de Vere has argued that employers can save money by providing financial advice in the workplace for their employees, and 83% of employers have admitted that financial advice is something their employees would benefit from
15/10/2018
A staggering 58% of first-time buyers claimed that their parents bought their first home at a younger age than them, according to a recent study conducted by Larkfleet Homes and First Time Buyer Magazine
15/10/2018
The government has rejected calls from the Treasury Committee to fundamentally reform pensions tax relief after it said there was “no clear consensus” to do so
15/10/2018
The UK can expect low economic growth for the next three years, with a no-deal Brexit denting growth even further, according to the EY Item Club
15/10/2018
The Lifetime Isa (LISA) will remain available to the savers under 40, the government has confirmed, despite calls from the Treasury Select Committee for it to be scrapped
15/10/2018
Chancellor Philip Hammond is likely to revert to the ‘salami-slicing’ of pension tax relief as a way of funding increased spending on the NHS, according to Royal London director of policy Steve Webb
14/10/2018
Defined benefit pension transfer values fluctuated over September, falling slightly by the end of month to £230,000
12/10/2018
Insurance Premium Tax (IPT) costs each household more than £200 per year, and raises more than beer and cider duty, while also rising faster than taxes on cigarettes, despite half the population having never heard of it
12/10/2018
Property price growth in the capital will be put “on pause for the next two years” until Brexit negotiations are fully completed, according to a Savills analysis that was recently released
12/10/2018
Royal Bank of Scotland (RBS) yesterday unveiled a new savings product offering a rate of 1.5%, just weeks after Goldman Sachs entered the British market
12/10/2018
Bank of England (BoE) governor Mark Carney needs to clarify whether house prices would be slashed by a third if the UK were to crash out of the EU, the Treasury select committee has urged
12/10/2018
Over 90 per cent of small and micro employers said no members asked to leave their pension scheme following the increase of minimum auto-enrolment contributions in April 2018, The Pensions Regulator has revealed
12/10/2018
Financial Services Compensation Scheme (FSCS) CEO Mark Neale has announced that he will step down from his position on 3 May 2019 after being in the organisation for nine years
12/10/2018
In the first nine months of the year, 3,527 young people experienced identity fraud, an increase of 24% when compared to 2017, according to figures from anti-fraud organisation Cifas
11/10/2018
The Treasury is finalising plans to overhaul tax rules which allow those that are self-employed to avoid paying national insurance contributions, with the move targeted at those who set themselves up as private companies to take on work
11/10/2018
Over half of renters (51%) had only been shown their tenancy agreement after they had put down money on the property, revealed Citizens Advice
11/10/2018
With the number of house buyers on the decline, piling further pressure on London’s already strained property market, the Royal Institution of Chartered Surveyors (RICS) said there was “caution” as Bank of England (BoE) governor Mark Carney warned of a potential 35% drop in prices in the event of a no-deal Brexit
11/10/2018
The aggregate risk across FTSE 100 defined benefit pension schemes has fallen by 23.5 per cent since 2017, according to Cardano and Lincoln Pensions
11/10/2018
The average Brit underestimates the amount of money they need to retire by £169,000, according to new research by MoneySupermarket
10/10/2018
Government regulatory “tinkering” and poor communication has led to a severe lack of trust in the UK pensions industry, it has been suggested
10/10/2018
The tax collected from individuals breaching the Lifetime Allowance (LTA) has rocketed by £97m since it was introduced in 2006, with the latest figures from HMRC showing that £102m in tax was collected from individuals exceeding the allowance during 2016/17, compared with less than £5m in 2006/7 when the LTA was introduced
10/10/2018
An employee earning the UK’s average income, who was auto-enrolled (AE) in October 2012 when it was introduced, and has contributed the minimum amount over the last six years, will have generated a pension pot of £3,353, new research from Aegon has revealed
10/10/2018
Kent Reliance, part of specialist mortgage provider and retail savings group OneSavings Bank, has announced its decision to increase the procuration fees for product transfer from 0.25% to 0.30%
10/10/2018
The government is reportedly “looking at the opportunities” a digital tax system could bring to “tackle any differences” in the way pensions tax relief is paid
10/10/2018
The Bank of England (BoE) has doubled down on its call to the European Union (EU) to put measures in place to allow European banks to access UK-based clearing houses after Brexit, in order to avoid financial market chaos which could damage firms across Europe
10/10/2018
Banking giant HSBC paid a $765m (£582m) fine yesterday over allegations it deliberately sold “contaminated” mortgage-backed securities to investors in the period leading up to the financial crisis
10/10/2018
The deficit of defined benefit schemes in the PPF 7800 Index decreased by £26.6bn over September, ending the month on £38.7bn
10/10/2018
Saga has launched a regular drawdown lifetime mortgage, which allows people to set how much money they would like to receive each month, with a minimum of £200; and more...
09/10/2018
Interest-only customers are set to increasingly seek professional advice from intermediaries as they approach the end of their loan terms, allowing significant opportunities for advisers to discuss potential retirement solutions with their clients to arise, new research has found
09/10/2018
Almost 70 per cent of the British public do not understand which pensions products they should be investing in, new research has found
09/10/2018
The Financial Conduct Authority (FCA) is consulting on new governance in a bid to reduce the potential for harm to investors that hold illiquid assets, particularly under stressed market conditions, such as the UK referendum on EU membership in 2016
08/10/2018
Inheritance tax (IHT) gifting rules could be dramatically simplified in the Budget, according to financial advice firm, NFU Mutual
08/10/2018
A freedom of information (FOI) request submitted by Canada Life revealed that 30 overseas transfer charges were paid to HM Revenue & Customers (HMRC) worth £1.4m in the 2017/18 tax year
08/10/2018
New regulations from the Financial Conduct Authority (FCA) on pension transfer advice will alter conversations between pension members and advisers, according to Lane Clark & Peacock (LCP) and Royal London
08/10/2018
Specialist buy-to-let mortgage lender Landbay has today announced a new partnership with the Julian Harris Adviser Network; and more...
08/10/2018
Current savings levels in ISAs are “far too modest to even scratch the surface” of paying for residential care in later life, according to Just Group
08/10/2018
Almost two thirds (73%) of NEST savers think it is important for pension schemes to consider the environment, society and corporate behaviour when investing their money, revealed a survey conducted by the corporation
08/10/2018
Seventy-nine per cent of pension savers are “indifferent” to where their pension is invested, as long as it delivers a reasonable return, new research has found
08/10/2018
Britain’s biggest high street lender Lloyds is in talks with Schroders over merging its £13bn wealth management branch into a new joint venture with the investment giant
08/10/2018
The average instant access deposit rate available from banks and building societies rose just 0.05 per cent to 0.27 per cent in September, despite August’s 0.25 per cent interest rate rise
05/10/2018
NOW: Pensions CEO Troy Clutterbuck has signed a letter to Chancellor Philip Hammond, which aims to address the pay anomaly in the forthcoming Budget, and highlighted that “more than a million low earners are missing out on tax relief” on pension contributions
05/10/2018
TMA Club has today announced that it is expanding its offering by adding Saffron for Intermediaries to its range of lenders; and more...
05/10/2018
Changes to the pensions annual allowance, stamp duty clarification and ISA allowance changes are among the main policy amendments that could occur in the Budget, according to a number of financial experts
05/10/2018
House prices in the latest quarter were 1.8% higher than in the preceding three months, marking the third consecutive rise on this measure, revealed the latest House Price Index published by Halifax
05/10/2018
HM Revenue & Customs (HMRC) has been criticised by MPs for failing to advise 100,000 small businesses on how to prepare for a no-deal Brexit, after the revenue’s chief executive Jon Thompson received a letter from parliament’s Public Accounts Committee yesterday
05/10/2018
The crisis at Danske Bank worsened yesterday as it confirmed that it has received “requests for information” from the US Department of Justice (DoJ) in relation to the €200bn (£176bn) money laundering scandal involving suspicious Russian money
05/10/2018
The accounting deficit of defined benefit pension schemes for the UK’s 350 largest listed companies increased by £5bn to £34bn between the end of June and the end of September, according to Mercer’s latest data
05/10/2018
The Financial Conduct Authority (FCA) has today published new rules designed to improve the advice people receive when considering transferring their pension, with the policy statement confirming that the regulator is taking forward most of the proposals put forward in March 2018
04/10/2018
Unions from around the globe are joining forces with their pension trustees to put pressure on asset managers and regulators to come clean over the hidden costs of charges to pensions schemes, UNISON has said
04/10/2018
Over half (51%) of 25 to 34 year olds do not feel financially resilient, meaning they would struggle to recover from a financial shock or loss of income, while a third of them have no savings, according to the Office for National Statistics (ONS) report How well are you doing compared with other young people?
04/10/2018
Investors have continued to pull money from UK-focused funds in August, with a further £423m being withdrawn from the sector, revealed the latest figures from the Investment Association
04/10/2018
Specialist mortgage lender Vida Homeloans is launching in Scotland with its range of criteria-driven products as part of its ambitious growth plans
04/10/2018
Over a third of millennials have claimed they prioritise saving for a deposit on a home instead of their retirement, with a fifth of them stating that buying a property is the main reason they do not save more into their pension, according to new research from Prudential
04/10/2018
PIMFA, the leading wealth management and financial advice association, has announced that it welcomes the Financial Conduct Authority’s (FCA) decision to further investigate industry concerns about the operation of the PRIIPs regime since its implementation in January 2018
03/10/2018
The chair of the Financial Conduct Authority (FCA) Charles Randell has said that calls for deregulation from some quarters of the financial sector demonstrated that “some memories are beginning to fade” from the financial crisis
03/10/2018
The combined defined benefit pension deficit dropped by £20bn over September 2018, new figures have revealed
03/10/2018
Prime Minister Theresa May has announced a consultation on allowing opposite-sex couples to enter into civil partnerships, sparking a number of financial implications
02/10/2018
Specialist buy-to-let lender Landbay has refreshed its product criteria, increasing its maximum loan size from £1m to £1.5m and a maximum LTV of 75%; and more...
02/10/2018
Almost a third (31%) of people in the UK believe that they will not be able to repay their debt within their lifetime, while 12% state they will not be able to reduce their debt levels, according to new research from Equifax
02/10/2018
House prices across the UK increased by 0.3% in September compared to August, taking the average property price to £214,922 as oppose to £214,745 the previous month, according the Nationwide’s most recent House Price Index
02/10/2018
The UK banking sector has a “stable” outlook, in spite of an expected decline in economic growth, according to Moody’s Investors Service
02/10/2018
Danske Bank has appointed an interim chief executive after its former boss Thomas Borgen resigned following the firm’s €200bn (£177.8bn) money laundering scandal
02/10/2018
The Financial Conduct Authority (FCA) has fined Tesco Personal Finance plc (Tesco Bank) £16.4m for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cyber attack that took place in November 2016
01/10/2018
A pensions campaign group has urged the government to re-look at its options for granting pension freedoms to over five million pre-2015 retirees
01/10/2018
The latest monthly defined benefit funding indexes have shown that FTSE 100 pension schemes’ deficits have decreased by £1bn to £2bn over the past month, JLT’s latest data revealed
01/10/2018
The UK’s third largest equity release lender, more 2 life, has today announced that it is adding a drawdown facility to its Capital Choice Plan, allowing customers to withdraw a minimum amount of £2,000 and a maximum drawdown amount of double the initial loan amount; and more...
01/10/2018
Last year businesses received tax relief worth £3.5bn to support investment, as more companies took advantage of a scheme designed to tackle Britain’s weak productivity
01/10/2018
Almost half (49%) of self-employed adults aged 25 and over are earning less than minimum wage – a total of two million people, new analysis published by the TUC has revealed today
28/09/2018
The government is backing the Select Committee's recommendation that the Single Financial Guidance Body should signpost older people to mortgage brokers, banks and building societies who can offer advice on mortgages and equity release, shared ownership and shared equity, and on reinvesting the proceeds of sales
28/09/2018
Citizens Advice has launched a ‘super complaint’, highlighting that loyal customers are overpaying by £4.1bn a year on mobile, broadband, home insurance, mortgages and savings
28/09/2018
The total tax take from the lifetime allowance (LTA) tax charge has increased by more than 2,000 per cent in 10 years to £102m, according to the latest data from HM Revenue and Customs (HMRC)
28/09/2018
This year's Budget is to be earlier than usual to avoid clashing with the final stage of Brexit negotiations in November
27/09/2018
Labour leader Jeremy Corbyn has pledged to keep the triple lock if his party is elected
27/09/2018
Goldman Sachs is today launching a savings account in the UK, with savers being offered an interest rate of 1.5 per cent
27/09/2018
A total of 57% of IFAs would like a greater supply of ratings for ESG products to support client interest, according to latest research by HSBC Global Asset Management
26/09/2018
A change in the discount rate used to value public sector pensions, which could lead to increased transfers from public sector employers to the Treasury, may create a £5bn shortfall in the delivery of frontline public services
26/09/2018
Around 53 per cent of advisers said their clients had heard of annuities but had little understanding of their features and benefits, new data from Primetime Retirement has revealed
26/09/2018
Gross mortgage lending for the total market in August was £24.1bn, some 1.2 per cent lower than a year earlier
26/09/2018
Almost two thirds (62%) of financial advisers want greater priority given to implementing a ‘cold calling’ ban on pensions and almost six in ten (59%) financial advisers are calling for greater government priority on a new deal on funding social care
26/09/2018
A total of 10.8 million UK adults now consider themselves to be virtually cashless, using payment methods other than physical notes and coins to pay for lower value items
25/09/2018
A total of 4.5 million UK adults took financial advice on investments, saving into a pension or retirement planning in the last 12 months – an increase of 1.3 million compared to the previous year
25/09/2018
A total of £503.4m was stolen by criminals through authorised and unauthorised fraud in the first six months of 2018, new data from UK Finance has shown.

During the same period, the finance industry prevented £705.7m of unauthorised fraud, equivalent to £2 in every £3 of attempted unauthorised fraud
25/09/2018
Vida Homeloans has made improvements to its new build proposition and introduced a speedier remortgage process by allowing conveyancers to use its no search indemnity insurance
25/09/2018
The number of product options available across the later life lending market has more than doubled in two years, helping to drive growth in the equity release market
24/09/2018
VitalityLife launches Risk Calculator and more...
24/09/2018
Paragon has expanded its property finance portfolio following its £48m acquisition of Titlestone Property Finance
24/09/2018
IHT receipts hit £2.357bn for April to August, HMRC has revealed
24/09/2018
The next recession will be ‘worse than the Great Depression’ if two experts’ predictions about the worldwide debt of $247trn are correct
24/09/2018
Former BHS owner, Dominic Chappell, has lost his appeal against his conviction that found him guilty of failing to hand over information to The Pensions Regulator in relation to the collapsed retail chain's pension scheme
21/09/2018
Chancellor Philip Hammond recently announced to MPs that Mark Carney will remain Bank of England (BoE) governor until the end of January 2020, adding that the seven-month extension will “support a smooth Brexit”
21/09/2018
KAS Bank has developed a cost transparency dashboard to help asset owners understand and keep track of the costs involved in a pension scheme
21/09/2018
HMRC has recently been sending ‘nudge letters’ to taxpayers who are believed to have offshore assets which may give rise to income and gains attracting UK tax, but leading tax firm Blick Rothenberg questioned whether the revenue has given people enough time to respond
21/09/2018
A potential cut to the pensions annual allowance at the Autumn Budget, in order to find extra money for the NHS, could drive doctors away, it has been suggested
20/09/2018
Fifty-six per cent of advisers support an enabling of an effective triage process by the FCA for clients considering seeking advice on DB transfers, and there is also strong support for a continued contingent charging option, including among firms not offering DB transfer advice
20/09/2018
The chief executive of Danske Bank resigned yesterday following the publication of a report into the money-laundering scandal which has rocked the lender
20/09/2018
The Pension Protection Fund has set its next levy estimate at £500m for 2019/20, a drop of £50m on the 2018/19 estimate
20/09/2018
One in eight (13%) adults in the UK have reported they would need to sell their family home if they lost their income, with 53% of them having no financial provision in case that were to happen, according to the Cost of Resilience report from Zurich UK
19/09/2018
AJ Bell has today announced that retail investors who want to apply for shares under AJ Bell’s planned initial public offering (IPO) need to be UK residents and have opened an account with the firm by 15 October 2018
19/08/2018
The Financial Conduct Authority’s chief executive, Andrew Bailey, has said he is “not convinced” of introducing a charge cap on drawdown products
19/09/2018
The inflation rate in the UK unexpectedly increased in August, reaching 2.7%, the highest rate seen in six-months, after economists had expected a consumer prices index (CPI) rate of 2.4%, the Office for National Statistics revealed (ONS)
19/09/2018
Average house prices in the UK have increased by 3.1% in the year to July 2018, slightly down from 3.2% in June 2018, and marking the lowest UK annual rate since August 2013 when it was 3%,the UK House Price Index published by the Office for National Statistics (ONS) has revealed
19/09/2018
Bitcoin will lose 50 per cent of its cryptocurrency market share to ethereum within five years, according to Thomas Crown Art co-founder Ian Mcloed
18/09/2018
Specialist and buy-to-let lender Fleet Mortgages yesterday celebrated its fourth birthday, having launched on 17 September 2014
18/09/2018
The Home Secretary Sajid Javid has recommended scrapping automatic enrolment if Britain were to leave the European Union without a deal
18/09/2018
Taxes should rise to pay for the government’s £20bn a year boost for the NHS, said the International Monetary Fund (IMF) as it urged Britain to not take chances with public finances
18/09/2018
The equalisation of pensions tax relief for higher and lower rate income taxpayers has been listed as part of a major tax shake-up proposed by the Liberal Democrats
18/09/2018
On 15 September 2016, annuity rates for a 65 year old plummeted to a low of £4,495, but have since increased by 19% reaching £5,341, based on a £100,000 pension, according to the figures released by Hargreaves Lansdown
17/09/2018
Michael Nascimento was today sentenced to 11 years’ imprisonment for his role in a share carried out through a series of boiler room companies, resulting in the loss of more than £2.8m of investors’ money
17/09/2018
The Financial Conduct Authority (FCA) has banned Christian Bittar from performing any function in relation to any regulated financial activity
17/09/2018
The London housing market has demonstrated signs of recovery, with figures at the top end of the market increasing by 6% year-on-year
17/09/2018
Pensioners in London have only £6 left over on average after their monthly household spending, according to new research from the Office for National Statistics (ONS)
14/09/2018
Bank of England (BoE) governor Mark Carney has warned the cabinet that a chaotic no-deal Brexit could cause house prices to plummet and result in an economical shock similar to that caused by the financial crisis
14/09/2018
The success of automatic enrolment is in danger of being “oversold” once April 2019 contribution increases go through, it has been said
14/09/2018
Hargreaves Lansdown (HL) has introduced a new service for cash savers which will allow them to pick and mix fixed term savings products from a range of UK banks and building societies through one online account; and more...
14/09/2018
Though retirement interest-only (RIO) mortgages have been labelled a “welcome addition” to the later life lending space, a number of trade body representatives have argued there should be a closer alignment between the products and equity release options so consumers receive more holistic advice
13/09/2018
Defined benefit pension transfer values remained stable over August, fluctuating mildly over the month, according to the latest data
13/09/2018
The Financial Conduct Authority’s (FCA) intention to introduce a broker assessment/comparison tool for consumers is wrought with difficulties and could be “anti-competitive”, according to a number of trade body representatives
13/09/2018
The government has announced the launch of its Help to Save scheme
13/09/2018
The Personal Finance Society (PFS) has recently announced it is unveiling its new Financial Planning Practitioner Panel for 2018/19
13/09/2018
The impact of the financial crisis has left people's wages 3% below what they were a decade ago, new research has revealed
12/09/2018
Homeowners who lapse onto their lender’s Standard Variable Rate (SVR) are being stung with over £2,500 a year in extra interest, according to analysis from online mortgage broker Trussle
12/09/2018
The residential remortgaging market has seen its strongest July in a decade, according to UK Finance's Mortgage Trends Updatee for July
12/09/2018
The DWP has had to halt and alter plans for new regulations regarding pension compensation for employees of companies that enter insolvency
12/09/2018
The Department for Work and Pensions (DWP) has rejected a suggestion to allow individuals to retain their previous pension provider after they change jobs
12/09/2018
The government has confirmed that trustees will not be required act on members’ views on how the pension scheme is invested, following initial confusion in its draft consultation
12/09/2018
Chancellor Philip Hammond has announced to MPs that Mark Carney will remain Bank of England (BoE) governor until the end of January 2020
11/09/2018
The outstanding value of all residential loans has continued to grow in the second half of 2018, rising to £1,417.2bn, illustrating a 3.8% growth compared to Q2 2017, according to the Bank of England’s Mortgage Lenders and Administrators Statistics: 2018 Q2
11/09/2018
Londoners have been prevented from being ripped off by over £2m over the last 12 months, as London Trading Standards (LTS) tackle rogue traders across the capital
11/09/2018
Small defined benefit schemes are “lagging behind” larger schemes when it comes to good governance, The Pensions Regulator has found
11/09/2018
Sterling hiked yesterday after EU chief negotiator Michael Barnier announced it was “realistic” to expect a Brexit deal in the next six-to-eight weeks
11/09/2018
More than a fifth (21 per cent) of FTSE 350 companies with a DB pension scheme do not disclose their funding deficit or surplus position, according to new research from Lincoln Pensions
10/09/2018
In a case brought by the Financial Conduct Authority (FCA), five individuals have been sentenced to a total of 17.5 years imprisonment for their roles in a shared fraud carried out through a series of boiler room companies, resulting in the loss of more than £2.8m of investors’ money
10/09/2018
Answers in Retirement Group (AIR Group) has recently announced the launch of its new physical ‘Learning Hub’ for later life advisers
10/09/2018
The number of people taking a full cash withdrawal from their pension pots has fallen by 9 per cent, Financial Conduct Authority (FCA) data has revealed
10/09/2018
New figures released today from PwC’s Skyval Index revealed the deficit of defined benefit (DB) pensions funds stood at £170bn at the end of August 2018, £10bn less than the £180bn figure reported at the end of July 2018
07/09/2018
As sluggish market conditions continued, and the number of mortgages approved for new house purchases dropped by 4.3% on the year last month, the Financial Conduct Authority (FCA) has called for innovation to help consumers find the best mortgage deal
07/09/2018
Average contributions into private sector DC pension schemes during 2017 fell to 3.4 per cent, Office for National Statistics results have revealed
07/09/2018
House prices in the UK in the three months to August increased by 3.7%, compared to the same period a year earlier, according to Halifax’s recently published House Price Index for August 2018
07/09/2018
Kent Reliance, part of specialist mortgage provider and retail savings group OneSavings Bank Plc, has today announced that it is making rate reductions to its five-year fixed buy-to-let (B2L) mortgages for 75% and 80% LTV products; and more...
07/09/2018
A planned tax cut for 2.7 million self-employed workers has been scrapped by the British government
07/09/2018
The Court of Justice of the European Union (EU) has today ruled individual pension scheme members should receive at least 50% of the value of their accrued old age pension in the event of employer insolvency
06/09/2018
The sale of drawdown products continued to grow at a faster rate when compared to traditional annuity solutions, up 8% in the second half of 2017/18 from the same period in 2016/17, according to the Financial Conduct Authority’s (FCA) Data Bulletin September 2018
06/09/2018
The average rental price in the UK has risen by 0.13%, the highest monthly increase since April 2016, according to the Landbay Rental Index
06/09/2018
The number of advisers’ clients choosing growth as their main priority when selecting an investment product has increased, rising from 28% in January 2018 to 37% in April 2018, according to figures from NS&I’s latest edition of its Financial Advice Barometer
06/09/2018
Pension funds could be subject sanctions like Local Government Pension Schemes (LGPS) are if they fail to supply data requested of them to the scheme, it has been suggested
06/09/2018
Retired homeowners have gained £45.7bn in property wealth in the past year, despite housing market worries, according to analysis from independent equity release adviser Key
06/09/2018
Thousands of people across the UK were charged twice for debit card payments following a glitch, which saw customers billed twice when paying via a card terminal operated by Cardnet, despite transactions only appearing once on receipts
05/09/2018
Despite the price of Bitcoin rising, eToro market analyst Matthew Newton stated that it is way too early to call this a “true resurgence”
05/09/2018
Fifty-three per cent of people are worried about the governments delay in implementing a cold calling ban, according to a recent study by Aegon
05/09/2018
Around 55 per cent of people not saving into a pension blame low income, lack of work or still being in education, an increase of 17 per cent from 38 per cent in 2010-12
05/09/2018
One in four Brits have fallen victim to online fraud when shopping online, with 8% of victims being duped more than once, according to the statistics from the inaugural Shieldpay Fraud Tracker
05/09/2018
Bank of England (BoE) governor Mark Carney yesterday said that he is willing to do whatever he can to a promote a smooth Brexit process, when asked whether he will remain in his position after June 2019, his original planned date of departure
05/09/2018
The FTSE 350 defined benefit pension deficit increased for the second consecutive month, from £32bn to £34bn, as of 31 August 2018, according to Mercer’s Pension Risk Survey
04/09/2018
More than a quarter (27%) of millennials would take their investment out of a company if it faced allegations of misconduct or unethical behaviour, despite it achieving high returns, versus just 9% of those aged between 55 and 64, according to statistics from Rathbone Investment Management
04/09/2018
Britain’s buy-to-let (B2L) landlords are divided over their future due to tax and market changes, with 44% of them looking to sell and just 56% planning to keep their existing properties and extend their portfolio, according to the latest research from Octopus Choice
04/09/2018
The Treasury and the Bank of England (BoE) are in discussions about Mark Carney staying on as governor beyond his present departure date of June 2019
04/09/2018
FTSE 100 pension schemes have slipped back into deficit, after breaking into surplus last month for the first time in ten years, according to JLT Employee Benefits (JLT) monthly index
03/09/2018
Royal Bank of Scotland’s (RBS) chief executive has recently told the BBC that the bank is “preparing for the worst” in relation to the Brexit result, as the bank may have to decline new business customers if there is a no Brexit deal
03/09/2018
An FCA clampdown on the ‘triage’ process when clients ask about pension transfers risks
"poor consumer outcomes", Royal London has argued, despite huge variations in how firms triage pension transfer inquiries.

A survey of almost 400 financial advisers by mutual insurer Royal London, found that more than two thirds of advice firms operate an initial triage process when approached about a potential transfer, but what this means in practice varies hugely. When asked ‘what percentage of clients are triaged and do not then take things further’, replies ranged from ‘NIL’ to ‘over 90%’
03/09/2018
According to Sanlam UK’s report, The Generation Game, 33% of under 45’s claimed to have less than £10,000 in their pension pot, while a quarter of them said they do not know the value or do not have one at all
03/09/2018
Those who invested in a stocks and shares ISA 15 years ago could have enjoyed gains of almost double that experienced by individuals leaving money in cash over the same period, according to the latest figures from HM Revenue & Customs (HMRC)
03/09/2018
The government’s National Fraud Initiative (NFI) has saved over £300m in taxpayers’ money over the last two years, by detecting and preventing fraud and error in the public sector
31/08/2018
Savers missed out on £31.2bn of potential extra income, despite cash deposits swelling to a new record by the end of 2017, according to latest research
31/08/2018
Savers missed out on £31.2bn of potential extra income, despite cash deposits swelling to a new record by the end of 2017, according to latest research
31/08/2018
The number of people using ISAs has fallen to the lowest level since 2000, but the amount saved increased year-on-year to almost £70bn, according to latest governmental figures
31/08/2018
Customers could be in line for compensation after the FSCS declared nine firms in default
31/08/2018
Around 10 million UK residents could retire with £15,000 less in their pension pots if the government abandons the pension dashboard
31/08/2018
Wonga Group Limited and WDFC UK Limited (Wonga), have decided to place themselves into administration
31/08/2018
Payday lender Wonga is no longer accepting new loan applications as it faces the brink of collapsing
30/08/2018
In Q1 2018-19, NS&I delivered £3.1bn of Net Financing and delivered £36m of value to the taxpayer in Q1
30/08/2018
Prime Minister Theresa May aims to use money from pension funds to help generate up to a total of £8bn of public and private investments across Africa over the next four years
30/08/2018
The government should consider allowing consumers to sell their annuities on a secondary market, Liberal Democrat spokesperson for work and pensions Stephen Lloyd MP has said
30/08/2018
The Pensions Regulator has written to 14 pension schemes so far this year encouraging trustees to consider cutting the transfer values on offer when workers transfer out of the pension scheme
29/08/2018
The Centre for Policy Studies (CPS) has called for pension tax relief to be scrapped in an attempt to aid low income savers and save the Treasury an estimated £10bn per year
29/08/2018
Public sector workers retire on a pension on average three times larger their private sector counterparts, a TaxPayers’ Alliance report has revealed
29/08/2018
Payday lender Wonga is on the brink of collapse, according to latest reports, following a deluge of customer compensation claims
28/08/2018
Britain’s largest banks have paid out a total of £71bn for misconduct in the decade since the financial crisis, according to the Mail on Sunday
28/08/2018
Chancellor Phillip Hammond is to consider cutting higher-rate pension tax relief in an effort to find extra money for the NHS
28/08/2018
The government has warned that UK pensioners living in Europe, or UK pensioners with EU-pension entitlements, may lose access to their pensions in the event of a no-deal Brexit
24/08/2018
The latest product and mandate announcements....
24/08/2018
Accountancy body, ACCA, has said it is “simply unfair” that people owing tax have seen a rise in the interest they pay, while those owned a refund will see no change
24/08/2018
Gross mortgage lending for the total market in July was £24.6bn, some 7.6 per cent higher than a year earlier
24/08/2018
Thirty-one per cent of the self-employed plan to rely entirely on the state pension in retirement, research by Prudential has found
24/08/2018
Credit card users could be smacked with a new ‘Brexit tax’ as the cost of card payments between the UK and EU in a ‘no-Brexit deal’ are likely to increase
23/08/2018
Inheritance Tax (IHT) receipts have reached £5.2bn up from £3.4bn five years ago, new analysis of government statistics has revealed
23/08/2018
Removing the 1p and 2p coins from circulation would have “no significant impact on prices” because price rounding would be applied at the total bill level, not on individual items and would only affect cash transactions, two Bank of England experts have said
23/08/2018
The FCA has commenced criminal prosecution against Mark Starling in relation to an unauthorised investment scheme
23/08/2018
Aviva has created a new skill for Amazon’s Alexa, allowing its customers to ask the virtual assistant for the current value of their pension savings
22/08/2018
Banks have been warned that it's "not fair" to automatically blame customers for money lost through a scam
22/08/2018
A total of £2 out of every £3 was stopped in attempted fraud last year
22/08/2018
A total 15,200 new homeowner remortgages in London were completed in Q2 2018, some 16.9% more than in the same quarter a year earlier, according to latest figures by UK Finance
22/08/2018
IHT receipts hit £1.9bn in the first four months of the tax year, despite a rise in the number of claims for the increased tax break on family homes
21/08/18
Cryptocurrency fraud has led to a total of £2m worth of losses this summer, according to latest figures published by Action Fraud
21/08/18
Eighty-one per cent of consumers aged 55 or over feel they could take out an equity release plan without the help of a financial adviser, according to a new survey
21/08/18
Brits have now fallen behind on bills, to the tune of £18.9bn, according to a new Citizens Advice report
21/08/18
Sixty-two per cent of savers would prefer their savings, including their pensions, invested in assets that take climate change impacts into account, according to new research by ClientEarth
20/08/2018
Lloyds Bank is refunding one standard monthly mortgage payment up to £1,000 to customers who remortgage from another lender
20/08/2018
The government is considering a new ‘Care ISA’ to tackle the crisis in social care provision.


 
20/08/2018
The amount of tax collected from individuals breaching the LTA has rocketed by £100m since it was introduced in 2006, with the latest figures showing that £100m in tax was collected from individuals exceeding the allowance during 2016/17, compared with less than £10m in 2006/7 when the LTA was introduced
20/08/2018
The Financial Conduct Authority (FCA) has recently announced that, in collaboration with 11 other regulators and related organisations, it has created the Global Financial Innovation Network (GFIN), in order to build on the FCA’s proposal to create a ‘global sandbox’
17/08/2018
On average, over 55s have £283,206 worth of equity in their homes, according to the latest data from SunLife
17/08/2018
In a bid to enhance its support for first-time buyers, M&S Bank has extended its maximum loan to value (LTV) to 95% on three new products, a two and five-year fixed rate mortgage and two-year tracker mortgage
17/08/2018
The Retail Asset Management Awards 2019 is now open for entries
17/08/2018
A former Barclays trader who was dismissed for misuse of the of the ban’s electronic trading program has won £150,000 in damages, along with the entitlement to work for the bank again
17/08/2018
Moneyhub has recently announced that it has secured Payment Initiation Services Provider (PISP) authorisation from the FCA, cementing its place as a pioneer of open banking; and more...
17/08/2018
The Consumer Price Index (CPI) rate of inflation has risen to 2.5 per cent in July, up from 2.4 per cent in June, driven by volatile prices for computer games and rising transport costs
16/08/2018
Since the launch of the Help to Buy (HTB) ISA, 146,753 property completions have been supported by the scheme, according to the latest figures from HM Treasury’s Help to Buy: ISA scheme Quarterly Statistics
16/08/2018
AJ Bell has warned that the government will risk a backlash from younger voters if it “caves to pressure” to scrap the Lifetime ISA (LISA), a product created in 2016 to help younger people save for a first home or retirement
16/08/2018
Despite there being evidence that suggested standalone robo-advice will not attract affluent investors, data and analytics firm GlobalData says that it will offer competitive advantage to traditional wealth managers over competitors
16/08/2018
Following the launch of Vida Homeloans helping hand mortgage, the first joint borrower sole proprietor mortgage to be offered by a specialist lender, the lender is offering mortgage brokers the opportunity to help a local school, community centre, charity or sports club
15/08/2018
The Liberal Democrat’s spokesperson for work and pensions, Stephen Lloyd, has blasted the government over its failure to implement a cold calling ban, especially in light of new figures on pension scams
15/08/2018
Following the publication of the Support for Mortgage Interest (SMI) statistics, Royal London personal finance specialist Helen Morrissey said that “we could see many people fall into arrears”
15/08/2018
An annual assessment of FTSE 100 CEO pay packages released today shows that CEO median pay rose by 11% between 2016 and 2017, despite criticism from government and investors over the excessive pay packets
15/08/2018
Less than 50% of Royal Bank of Scotland’s (RBS) customers would recommend its customer service to friends and family, according to rankings from the Competition and Markets Authority, which has published its first set of results
15/08/2018
Consumer finance new business grew by 9% in June, compared with the same month a year earlier, according to the latest figures released today by the Finance & Leasing Association (FLA)
15/08/2018
The Pensions Regulator and the Financial Conduct Authority have joined forces to launch a campaign urging people to be aware of scammers targeting their pension savings, as it was revealed an average £91,000 was lost per victim in 2017
15/08/2018
Over half (52%) of landlords are positive about being a landlord in the current economic and political climate, while just 16% were concerned and felt worried, according to recent research from Your Move
15/08/2018
During the second quarter of 2018, RSA Security recovered nearly 5.1 million unique compromised cards and card previews from reliable online fraud stores and other sources, representing a 60% increase on the number of cards recovered in the first quarter of 2018
14/08/2018
Wealth tied up in people’s houses is no automatic ‘safety valve’ for people who have inadequate pension savings, according to new research by Royal London
14/08/2018
Pension scam victims lose an average of £91,000 each as fraudsters see opportunity to loot pension pots, as Action Fraud revealed that a total of 253 victims reported losing more than £23m to scammers in 2017
14/08/2018
Taxpayers only have a few weeks to disclose undeclared offshore tax liabilities to HMRC or risk a stiff penalty, the Chartered Institute of Taxation (CIOT) has warned
14/08/2018
Throughout June, there were 34,900 new first-time buyer mortgages completed, 3.6% lower than the figure reported in June 2017, equating to £5.8bn of new lending and representing a decrease of 1.7% year-on-year, according to UK Finance’s Mortgage Trends Update for June 2018
14/08/2018
The Financial Conduct Authority (FCA) received a record number of reports of unauthorised activity in the past 12 months, and is taking almost four times longer to complete criminal cases, according to date from the authority’s annual report analysed by Linklaters
13/08/2018
The number of British adults planning to move home in 2018, which was previously consistent at 8%, has dropped to 6% in the 48 hours following the BoE’s announcement to increase its base rate, according to new research from AA Financial Services
13/08/2018
Standard Life’s default fund returned less than half than that of the top performing provider, Zurich, over the last three years, despite having active management elements in the fund, it has been revealed
13/08/2018
First-time buyers have seen a 21% hike in property prices over the last decade, with the average price rocketing from £172,659 in 2008 to £208,741 now, according to the latest First-Time Buyer Review from Halifax
13/08/2018
Legal & General (L&G) has completed £735m of pension risk transfer deals in the first half of 2018 and expects to close on a further £7bn of transactions in H2 2018
10/08/2018
Rental prices could rise by 15% by 2023 as the supply of new rental properties slows down, according to a recent survey by the Royal Institution of Chartered Surveyors (RICS)
10/08/2018
The shortlist for the MoneyAge Awards 2018 has been revealed
10/08/2018
Legal & General Home Finance has recently announced a new 5-year partnership agreement with Virgin Money, which will see the retirement lender offer its lifetime mortgage product range to the bank’s interest-only customers aged 55 and over; and more...
10/08/2018
The aggregate pension deficit of the top 350 performing firms in the UK has fallen by £27bn to £35bn since the beginning of 2017, according to new data
09/08/2018
Over £2bn has been stolen from people’s bank and credit card accounts in the last year, averaging £833.54 per person, a 38% (£233) increase compared to last year, according to a poll commissioned by Compare the Market
09/08/2018
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Adam Cadle speaks to Fleet Mortgages CEO Bob Young about the BTL market and the firm's products and criteria

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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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