News

The Financial Services Authority (FSA) has confirmed self-invested personal pension (SIPP) charges disclosure exemptions will be removed from April 2013 to address current failings in the market.

More than 700,000 people contacted the Money Advice Service (MAS) in the last six months, an increase of 8% compared to last year.

The Financial Services Authority (FSA) is to press ahead with its proposed reductions in pension projection rates, despite opposition from providers.

Walker Crips has agreed to sell corporate advice subsidiary Keith, Bayley, Rogers & Co to BMV Investments as it focuses on core businesses.

LV= has added benefits to its income protection (IP) offering for medics so they have a relevant level of cover.

Defined benefit (DB) pension scheme members are being left £2 to 3bn out of pocket every year as trustees and their advisers fail to update the terms offered on tax-free lump sums.

Aegon will transfer the operation of its defined benefit pension schemes to JLT Benefit Solutions under a partnership agreement which will see 100 staff transferred from the life company.

Henderson reported net outflows of £1.1bn in Q3, with net retail outflows making up £296m of the total.

Lloyds Banking Group has set aside an extra £1bn to cover costs relating to PPI mis-selling and has announced a £583m loss for the first nine months of the year.

High street bank staff who missed sales targets were named and shamed, forced to work late and threatened with the sack, Unite the union has said.