Papers

THE GOVERNMENT'S pending Pensions Bill faces additional last-minute amendments after a trade body said some of the clauses could be "disastrous" for the UK economy.

THE PENSIONS AGE review being undertaken by the government has received a jolt with the recommendation from its own experts for either no retirement age or one significantly higher than the current 65.

The UK pensions savings crisis is not a crisis at all according to new research published by actuaries at Aon Consulting, The Daily Telegraph reports.

ROYAL & SUN Alliance has commenced discussions with an unnamed party or parties to sell its UK life insurance arm in order to cut losses associted with the troubled division.

THE TREASURY bowed down to industry pressure yesterday after it raised the price cap on the new ‘stakeholder' range of products to 1.5% for the first ten years, thereafter reverting to the 1% limit originally planned.

Although the document is yet to be published the Treasury has decided to set the price cap on stakeholder products at 1.5%, The Daily Telegraph claims today.

FSA investigators are swarming about HBOS after the company was told to hand over documents relating to operations in Bristol and Aylesbury, The Daily Telegraph reports.

Bank of England governor Mervyn King has warned house prices are in serious danger of falling while home owners will almost certainly face higher than expected borrowing costs.

THE TREASURY looks set to raise the price cap on simplified products to 1.5% in the face of concerted pressure from financial services providers.

The 1% rule is to be scrapped in favour of a new pricing system permitting companies to take an upfront percentage of the amount invested in addition to the 1% AMC, says today's Independent.