News

Pensions minister Steve Webb has said the abolition of contracting out, brought forward to 2016, does not mean defined ambition (DA) proposals must be finalised earlier.

European politicians have voted to reform the bonus structure of fund managers, a move which puts the UK at a "competitive disadvantage" and could damage shareholder value, according to PwC.

The number of pensioners aged 90 and over has increased by 26% between 2002 and 2011, according to the Office of National Statistics.

Nick Ring has been promoted to head of distribution at Threadneedle after Campbell Fleming took over as CEO at the group.

PIMCO's Bill Gross, manager of the world's largest bond fund, is auctioning off some of his historic stamp collection to raise proceeds for charity organisations.

Axa Wealth has added the eleven-strong fund range from Carmignac Gestion to its Elevate platform.

Towry director and senior client partner Gaius Jones is to join Ashcourt Rowan as chief executive.

The Financial Ombudsman (FOS) has confirmed that it will be imposing a levy on regulated businesses for 2013/14 of £23m, up 30% from £17.7m last year.

The Financial Ombudsman Scheme (FOS) will begin naming complained about firms from the summer under new powers to publish final decisions that it has under the Financial Services Bill.

Royal London has announced annual bonuses for 2012 and final bonuses for 2013 for with-profits policies in the Royal London Long Term Fund and in the closed Scottish Life Fund.