UK pensions: Baroness Ros Altmann to be grilled by MPs on Monday regarding the ongoing inquiry into understanding the new state pension January 17, 2016 Pensions minister Baroness Ros Altmann will face questions from the Work and Pensions Select Committee tomorrow as part of an ongoing inquiry into understanding the new state pension. Last week, the Committee published an interim report, which warned that people were confused about when and how much they would receive under the new state pension [...]
The certified investor: IW Capital and Money&Co’s Luke Davis on how to avoid a regulation deluge in the crowdfunding industry January 14, 2016 Before crowdfunding, plenty of private equity and investment firms were already helping their clients to raise money and make investments in smaller firms via the Enterprise Investment Scheme (EIS) tax relief. Now, some of the individuals involved have branched out into crowdfunding. Meanwhile, the newest entrants into the crowdfunding market, particularly within equity, are structuring [...]
UK pensions: new survey finds three in four small business owners say auto-enrolment puts too much pressure on their businesses January 12, 2016 Three in four small business owners say that the government’s new rules surrounding workplace pensions put “too much pressure” on businesses of their size, according to a new survey out today from the Federation of Small Businesses (FSB). After polling more than 1,000 small business owners in November and December, the FSB found that nearly [...]
UK pensions: People need to shop around for an annuity, as difference in rates at upper and lower end of the market for a standard annuity is 17 per cent January 11, 2016 An investment company has urged those purchasing an annuity to shop around, as it today revealed figures that showed the average annuity rate had dropped off in the last quarter. The analysis by Retirement Advantage found that the average annuity rate fell by 3.2 per cent in the final quarter of 2015, thanks in part [...]
UK Pensions: MPs warn Department for Work and Pensions that people are confused by new state pension and communications need to be improved urgently January 11, 2016 MPs have called on the Department for Work and Pensions (DWP) to urgently change the information sent to people reaching retirement age after it was discovered that confusion was rife over the new state pension. An interim report published today by the Commons Work and Pensions Select Committee highlights some of the responses received from [...]
UK legal costs hit $700m for Nortel January 10, 2016 The ongoing row over bankrupt Canadian tech giant Nortel Networks has racked up legal costs in the UK of over $700m (£482m), sources close to the proceedings tell City PM Three groups of creditors, including 33,000 UK pensioners, Canadian pensioners and US bondholders, have been unable to agree who gets what from the $7.3bn to [...]
Peer to peer mortgage lender LendInvest hits £500m mark January 8, 2016 LendInvest, the peer-to-peer mortgage provider, has reached a new milestone: it has lent more than £500m in short-to-medium term mortgages. In the first week of 2016, it processed a £5m loan in London, taking the total lent to £501m. The site was the first crowdfunding platform for residential and commercial mortgages and since launching in May [...]
Frazer Thompson of Chapel Down: Why I’m crowdfunding again January 7, 2016 The crowdfunding industry isn’t old enough to have veterans, but it does have experienced players. Frazer Thompson, the chief executive of Chapel Down, is now on his second campaign, raising £1m in return for 5.88 per cent equity on Seedrs to fund a new, state-of-the-art brewery in which the firm will make its Curious Brew beer [...]
UK pensions: Over one million Londoners have lost pension pots January 5, 2016 Keeping track of our pension funds as we flit from job to job is a challenging task, and a fresh survey has found that 1.3m Londoners are missing out on pension pots. We know, pensions aren’t exactly the most exciting thing, and you’re a busy person. But that negligence could be costing you dearly – [...]
New Year’s Resolutions for the world’s biggest economies January 5, 2016 Here we are – the start of a New Year and 365 fresh new pages to write. These are exciting times for most of us, but I bet in the first few days of 2016 there are already those suffering from pangs of guilt. Yes I’m talking about those New Year’s resolutions: binary promises which [...]
