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, [...]
Golden touch: Global Group founder Johnny Hon talks Kung Fu Panda, the Northern Powerhouse, Glenn Close and human rights November 15, 2015 Did you sell sweets to all your classmates? I ask Johnny Hon, interjecting as he talks about his childhood. “Yes, I did actually,” he chuckles, before moving back to explaining how he never took money from his parents after the age of 18, and ended up selling second-hand cars to fund his education. “They taught [...]
Don’t let runaway FX moves damage your firm – Investec Comment November 15, 2015 It’s been a volatile year for currency markets, with plenty of surprises. In January, the Swiss National Bank abandoned the Swiss franc’s peg with the euro, introduced in September 2011. Within minutes, the franc soared by around 30 per cent against the euro, hitting the country’s stock market as the effect of a much stronger [...]
Blockchain is the single biggest fintech innovation of the decade November 12, 2015 Despite the enormous attention being lavished on digital currencies such as bitcoin, the reality of the situation is we won’t see one hit the mainstream for many years. Before central banks commit to issuing a digital pound or dollar they will need to be assured about several factors, including proof that there are no vulnerabilities [...]
Value comparison site B.heard targets £4.5m fundraise November 12, 2015 An ambitious startup aiming to transform the worlds of customer service and price comparison websites will kick off a funding round tomorrow following its launch last week. The website, B.heard, wants £4.5m to expand its so-called “value comparison” platform, which compares companies’ levels of service, rather than simply contrasting prices. It is backed by investment banker [...]
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 [...]
