News

Public sector pensions need further reform before 2020 to avoid an annual £32bn liability for UK taxpayers, a Centre of Policy Studies report has said.

Pressure on government to reform maximum drawdown rates should be resisted as the move would see more pensioners deplete funds before they die, Partnership has warned.

The Association of Private Client Investment Managers (APCIMS) has requested clarification from the Financial Services Authority (FSA) on when the adviser charging rules apply to adviser referrals to discretionary investment managers (DIMs).

At retirement specialist Just Retirement has reported record group sales for the first quarter of 2012-2013 of £455.5m, an increase of 36.6% on last year.

Self-invested personal pension (SIPP) provider James Hay Partnership is to waive its £50 transfer fee for clients transferring into its iSIPP.

National Savings & Investments (NS&I) has cut the interest rate on its Direct ISA by 0.25% per annum to reflect similar moves across the market.

Fee-charging debt management plans (DMPs) are more likely to fail than free schemes, according to research.

Lloyds Banking Group is hoping to raise £1bn from the sale of its 60% stake in St James's Place Wealth Management(SJP), according to reports.

The Serious Fraud Office (SFO) has officially ended attempts to trace the assets of Keydata bond manager SLS Capital SA, after a lack of success.

Britain's largest bank HSBC has set aside an extra $800m to cover settlements for breaching anti money-laundering rules in the US.