London’s economic growth in 2015 far outstrips the rest of the country, RBS figures show October 7, 2015 London's economy is outstripping the rest of the country, growing 3.3 per cent year on year, compared with a national average of 2.5 per cent, according to RBS’ regional growth figures out today. London’s economic growth was boosted by its burgeoning professional, scientific and technical services industries. The City and the West End, unsurprisingly, were [...]
The new pension freedoms are transforming asset management October 6, 2015 The pensions freedom and choice agenda, announced at Budget 2014 and implemented in April this year, took fund managers by as much surprise as insurers. Eighteen months on, what can we see happening in the asset management world, as investment houses digest the implications? The biggest change in the new agenda was the final [...]
Millennials are raking it in from their grandparents’ cashed-in pensions October 6, 2015 The Taxpayers’ Alliance may be pushing for an end to winter fuel subsidies and senior bus passes, but researchers at Investec have hit back with a study claiming that pensioners are already hard done by because they have to spend so much on their damn grandkids. The study couldn’t have been better timed, it [...]
Quorn Foods sold by Exponent Private Equity to Monde Nissin in £550m deal October 6, 2015 Exponent Private Equity has agreed to sell Quorn Foods to Philippines group Monde Nissin in a deal worth £550m. Monde Nissin is a leading branded consumer goods company in the Philippines. They are building a global branded food business focused on health and sustainability. Simon Davidson, partner at Exponent, said: “Under Exponent’s ownership [...]
FCA proposes changes to new pensions regime in wake of George Osborne’s reforms October 6, 2015 Customers will receive more guidance and information when purchasing retirement products, under new proposals from the Financial Conduct Authority. Chancellor George Osborne shook up the pensions market in his 2014 Budget, when he announced that retirees would no longer be required to purchase annuities with their pension pots. The new pensions rules, which came into [...]
Private equity firm 3i appoints bank to sell parent company of Tommee Tippee brand October 6, 2015 Private equity group 3i has appointed investment bank Baird to oversee the sale of Mayborn Group, parent company of baby products manufacturer Tommee Tippee, according to reports. A formal sale process could begin soon, while a return to the stock market is a less likely alternative option. Mayborn is likely to be valued at around [...]
George Osborne’s buy-to-let reforms fail to dissuade investors – Comparethemarket.com October 6, 2015 Buy-to-let investors have not let chancellor George Osborne's recently announced reforms dampen their enthusiasm for the market, with enquiries on Comparethemarket.com rocketing so far this year. The website's data shows that buy-to-let enquiries were up by 20 per cent in the first eight months of the year, compared to the same period of last year, [...]
Pension confusion is leaving British workers unprepared for retirement – PwC October 6, 2015 Bewildered by your pension? You’re not alone. British workers are so confused about the current pensions system that they are not saving as much as they should in order to be ready for retirement, according to a report out today from PwC. The advisory firm surveyed nearly 1,200 working adults following chancellor of the exchequer [...]
Why Britain’s savings crisis is worse than you think October 5, 2015 We all knew Britain had a long-term savings crisis, but it’s now looking more like a disaster. For all the effort the government has put into liberalizing the pensions system, boosting personal responsibility by giving everyone the choice of what to do with their pots at retirement, one simple fact has not been addressed: we’re [...]
Pensions jargon busted: Your guide to the experts’ complex lingo October 5, 2015 Six months on from the landmark pensions changes, and one thing hasn't changed: Pensions jargon is as complex as ever. From benefit crystallisation events to annuities and LTAs, here is our simple guide to the experts’ language. Annuity An annuity is an insurance product, purchased to ensure a guaranteed income from retirement [...]
