Treasury

The government has confirmed the FCA will have a statutory duty to promote competition, but stopped short of making it one of the new body's core principles.

The Financial Services Authority (FSA) has issued a warning to consumers over pension reciprocation plans (PRPs) and other pension unlocking schemes.

Tens of thousands of local government pension scheme (LGPS) members will opt-out if Lord Hutton's proposal to increase contribution rates is implemented, the Treasury has admitted.

The Treasury has proposed to remove tax relief on compensation payments for pension mis-selling.

The Commons Public Accounts Committee has questioned the validity of Treasury cost projections for public sector scheme changes, saying it did not fully test the impact of its assumptions.

The Treasury will not allow the Department for Work and Pensions (DWP) to alter the proposals for raising the state pension age (SPA), a pensions lawyer said.

The US treasury is battling to slash spending after the country's national debt soared to $14trn, reaching a self-imposed limit set by Congress last century.

At last policyholders know when the compensation they have argued for a decade will start to flow.

The government should allow investors to move assets between different wrappers more easily to aid retirement saving, Tom McPhail, head of pensions research at Hargreaves Lansdown said.

The Treasury will not use tax incentives to encourage more workplace saving for retirement, Tom McPhail, head of pensions research at Hargeaves Lansdown said.