More than half of retirement savers are confused on pension freedom tax rules November 18, 2015 Over half of retirement savers are unclear on what the tax rules are following the launch of pension freedoms, according to new research. The study, by employee benefits consultancy Portcus, showed 53 per cent of those saving for retirement are confused on tax rules in the wake of new pension freedoms. The study pointed to a "worrying" view on tax, [...]
Shunning fossil fuels could burn £1m a year off of GLA pension fund November 18, 2015 Going green might be good for the environment, but it could eat into the Greater London Authority (GLA) pension fund. GLA Conservatives economics spokesman and assembly member Gareth Bacon has said that the pension fund could potentially lose out on £1m per year if it stops investing in fossil fuels. “Recent calls to stop the [...]
One in six employers feel their staff are still unclear about pension freedoms, more than six months after they came into force November 16, 2015 One in six employers have noticed staff are still scratching their heads over pension freedoms, despite the new rules having been in force since April, according to a study by Close Brothers Asset Management. However, some staff are getting the hang of the rules. In the survey of almost 900 UK employers, 21 per cent said [...]
UK pension freedoms could be costing people £104m, as they fail to shop around for the best annuity deal November 16, 2015 People who have purchased an annuity over the last six months without shopping around for the best deal are set to collectively lose out on £104m over the course of their retirement, according to figures released today by Retirement Advantage. The calculation was based on data collected for the first six months of pensions freedoms, [...]
Inside the rock: Gibraltar’s strategic and military importance is complemented by financial and gaming leadership November 12, 2015 Covering an area of just 6.8 square kilometres, the British Overseas Territory of Gibraltar punches well above its weight. At the last count, despite a population of only 32,000 people, it was home to 67 insurers with £9.95bn in total assets, 13 banks, 72 trust and company service providers, 14 pension fund administrators, and [...]
Bump in the road: What does platform failure mean for investors? November 12, 2015 The peer-to-peer industry suffered a platform failure last month, in the full glare of media attention. Back in 2011, P2P platform Quakle failed. This time around, it was Sweden-based TrustBuddy, which was shut down by the Swedish regulator, with lenders’ money frozen. The reasons for the failure of these platforms have been widely reported. [...]
Investing in data science will secure London’s future as a global leader in research November 11, 2015 The UK is a science powerhouse that punches well above its weight. London alone is home to four of the world’s top 30 universities. And this Government is committed to ensuring the UK is the best place in Europe to innovate, patent new ideas and start a business. To fulfil this ambition, we need to [...]
Those in default pension funds could be missing out on returns equating to around £500,000 for a lifetime November 11, 2015 Be warned if you’ve opted to stay in your default pension fund – research out today by JLT Employee Benefits has found that you could be missing out on returns by six per cent. Over the last three years, the performance of the top ten defined contribution (DC) pension default funds has been between roughly 3.5 per [...]
Work and Pensions Committee pressure chancellor George Osborne to delay tax credit cuts for a year November 11, 2015 A group of influential Members of Parliament, including six Conservatives, have called on chancellor George Osborne to delay cutting tax credits. The Work and Pensions Select Committee today published a unanimous cross-party report calling on the government to "pause for a year and plan for a major overhaul of the tax credit system". Read more: Osborne's "rhetoric [...]
Saving for retirement: Are you one of the UK’s super savers? November 11, 2015 More Brits are saving for retirement now compared to two years ago, boosted by the government’s policy of auto-enrolment. That’s according to our Investor Pulse survey, which also shows that the number of 25-74 year olds putting money away specifically for retirement has risen by an impressive 28 per cent since we began the survey [...]
