May 2019
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  • Sharp monthly rise in pension transfer values reported

    7 April 2019

    XPS Pensions Group has reported that pension transfer values as measured by its Transfer Value Index increased substantially during March. The index peaked at almost £251,000 before losing some of those increases to end March 2019 at £244,900, an increase of £9,700 on the previous month end. The difference between maximum and minimum readings...

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  • Compulsory reporting will not close the gender pay gap, says law firm

    5 April 2019

    Compulsory gender pay reporting will not eliminate the discrepancy in salaries between men and women, according to law firm Prettys.  Since 2018, companies with 250 or more employees have had to report their gender pay gaps at the end of their financial year. Almost nine in 10 (88.5%) of public sector organisations have shown...

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  • What prospects for China’s economy and equity market?

    5 April 2019

    Craig Mackenzie, senior investment strategist, Aberdeen Standard Investments looks at the issues for China’s economy and A share market With a solid earnings outlook and cheap valuations, we hold a positive view of China’s onshore A share market. Importantly, however, we think the current opportunity is a tactical rather than a long-term strategic one. The A...

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  • Industry concerns over Dashboards timeframes

    4 April 2019

    Commentators flag details around legislation, inclusion of state pension and ‘significant amount of work’ yet to be done before dashboards become reality Work and pensions secretary Amber Rudd has given Pensions Dashboards the green light following an industry consultation, but ongoing Brexit uncertainty means proposals could be delayed beyond the year. In a statement,...

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  • DWP Pensions Dashboards paper confirms delegated access for FCA authorised financial advisers

    4 April 2019

    Individuals will be able to delegate access to their pension dashboards to FCA authorised financial advisers, the DWP Pensions Dashboards paper has confirmed. The Government response to the consultation it initiated last year, stated it supported the ‘guidance and advice process through the provision of delegated access’, whilst determining strong controls for consumer protection....

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  • STAR initiative to improve transfer times receives boost from FCA

    3 April 2019

    STAR reports a growing community of firms is signing to its initiative, which was highlighted in the latest FCA Investment Platforms Market Study report. STAR is aimed at delivering an industry standard for the transfer and reregistration of consumer’s money and investments from one financial company to another, thereby significantly improving the transfer performance...

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  • From 6 April income tax will hit Scots harder than others in the UK

    3 April 2019

    Edinburgh-based Steven Cameron, pensions director at Aegon, highlights that from this weekend rates of income tax will hit Scots harder than others in the UK. But pensions offer a means of cutting their tax bill, he suggests. From 6 April, many people living in Scotland will be paying substantially more income tax than someone...

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  • Client concerns around retirement shifting, say advisers

    2 April 2019

    As the pension freedoms approach their fourth birthday, new research by Aegon shows a complex and evolving retirement landscape, with retirees’ priorities shifting as many take advantage of the greater flexibility offered by the freedoms.  Thirty-eight percent of advisers surveyed said running out of money was the greatest concern of their clients, while 32%...

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