Papers

Jeremy Goford, outgoing president of the Institute of Actuaries says commissions being paid to IFAs are hurting consumers and result in un-necessary products being sold.

Divorce settlements could be changed forever today if a panel of three judges decides the former wife of footballer Ray Parlour has a bigger claim to his future earnings than acceptable under current interpretations of the law.

THIS MORNING'S Times newspaper says Abbey may be selling off its life assurance businesses if its gets the thumbs up from the FSA.

DAVID WILLETTS MP, shadow secretary of state for work and pensions, will tonight announce Tory plans to scrap the three-quarters pension rule towards a compulsory annuity, says this morning's Daily Telegraph .

Raising UK interest rates through a succession of 0.25% steps since November last year was the right policy to adopt, according to arguments put forward by deputy Bank of England governor Rachel Lomax yesterday.

BRITAIN'S ECONOMY is currently growing at its fastest pace since 2000, according to latest estimates, but its people are saving less than previously thought.

IFAs have been urging clients to take hits of up to 21% simply in order to join a growing stampede out of Scottish Mutual's with profits fund, writes The Scotsman.

Treasury secretary Ruth Kelly brushed off criticisms from the Treasury Select Committee yesterday to argue means-tested benefits do not deter savings, that there is no £27bn savings gap, and that consumer confidence in long-term savings will return.

Chris Daykin, the government actuary, has severely criticised the FSA's approach to regulation saying it "does not always lead to an improvement in general welfare".

THE FINANCIAL Services Authority will be issuing a stern warning to insurance companies, fund management and banking groups, saying any payments they make to financial advisers must be "clear, open and transparent".