No more Mr Nice Guy: FSA will rule with a heavy hand
Something happened last week that I didn’t think ever possibly could. Hector Sants, chief executive of the Financial Services Authority (FSA), said sorry. Sorry? Sorry for what, you’re asking. Sorry for the FSA’s role in the economic meltdown and for making a mess of regulating the banking sector.
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Hitchen: financial services face falling into ‘catastrophic conservatism’ |
Shorting stance is not consensus
NAPF chair Chris Hitchen draws criticism from industry experts after rallying for an end to the ban on short-selling and stock lending
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Life offices risk losing billions in protected rights change
The change in regulation allowing protected rights to be used in trust-based self-invested personal pensions (Sipps) will seriously harm life offices, experts have predicted.
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Reshuffles spread awareness of the pensions industry
James Purnell has defended the government’s conveyor-belt approach to pensions personnel, following a month of key departures.
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PPF to introduce fairer risk-based levy formula
The Pension Protection Fund (PPF) is proposing changes to its risk-based levy to make it fairer and more stable.
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Wood: ‘Trustees deferring insurer transfers until chaos dies down’ |
Buyout boom to fizzle in 2009
Buyout firms face a year-long slowdown in business as trustees and sponsors defer decisions amid the unprecedented market turmoil.
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Bhabra: ‘Companies want to avoid being named and shamed’ |
Big firms shun ETVs in scandal fears
Large employers are steering clear of enticing members to leave schemes with enhanced transfer exercises, fearing being embroiled in mis-selling scandals.
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UN PRI looks further afield
The United Nations’ Principles for Responsible Investment (UN PRI) is to concentrate its efforts on asset classes other than just equities.
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Dexia riding on strength of SRI
Dexia Asset Management is looking to tap into the UK institutional market with its alternatives and socially responsible investment (SRI) offering.
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Volatility highlights the strongest firms
The uk has failed to escape the widespread market volatility that has characterised 2008 so far.
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Norgrove: paying pensions should be seen as natural as paying VAT |
‘Be careful what you wish for’
David Norgrove, chairman of the Pensions Regulator, has defended the UK’s levels of regulation, telling critics to be careful what they wish for.
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Hitchen: scheme will be governed by an independent board |
Quality mark test unveiled for DC
Employers must pump at least 6% into their defined contribution (DC) schemes, with employees paying 4%, to pass a new quality mark test launched by the National Association of Pension Funds (NAPF).
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Davies: education is not working |
Davies: 401k ‘a waste of money’
Despite often being hailed as the cradle of defined contribution (DC) pension planning, the 401k has failed American retirees, according to a senior managing director for institutional DC services at AllianceBernstein.
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Dickson: models abroad show auto-enrolment is a powerful tool |
Auto-enrolment can work
Auto-enrolment should not be seen as a necessary evil, but as a powerful tool in driving increased pension provision, according to Andy Dickson, senior business development manager at Standard Life.
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Askins: many small schemes are struggling to manage deficits |
Lifeline for small schemes
North-east based CPRM Actuaries and Consultants is offering a lifeline to small defined benefit (DB) schemes.
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Diversify and derisk earlier, says survey
Providers are answering the industry’s calls for improved defined contribution (DC) provision, according to new research conducted by PensionDCisions and Pensions Management.
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Robinson: the firm’s resources put it in a favourable position |
Five-star Sipp joins market
Administration provider Xafinity has become the latest entrant to the self-invested personal pension (Sipp) market, following its acquisition of Hazell Carr earlier this year.
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The ban on employer inducements is flawed
If the government hadn’t already got enough on its plate, it now finds itself boxed in over personal accounts.
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Reaping a good harvest
As the at-retirement market and its needs change, so too must the architecture and technology behind the products offered in order to provide retirees with greater flexibility
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Pensions boring? We’ll see about that
Well I don’t know what you do all day, but a big part of my time is taken up with reading Hansard; not all of it, just the pension bits, but that’s usually quite a lot of reading. Hansard is the official report of the proceedings of the British parliament and is named after TC Hansard and his son, who compiled the reports until 1889. I know all that because I looked it up in my dictionary.
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Selling a guaranteed idea
Gary Finkelstein is no stranger to stock market crashes and has built his business on managing risk. Here, he explains to Owen Walker the real value of guarantees and third way annuities
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Robinson: the slowing of investor distributions will have a big impact |
Full of Eastern promise
Sam Robinson, fund manager of the SVG Asia fund-of-funds, speaks to Owen Walker about the disparate elements that make up the Asian markets and his passion for collecting wines
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Know where you stand
Some recent rulings have seen trustees being found liable, but the circumstantial details of such cases can lead to disparate consequences, as demonstrated in these examples
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Future secured
Pending legislative changes and a year of economic chaos, among other things, have turned this market into a different beast to what it was 12 months ago. PM ’s annual survey asks where it might go from here
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Next generation retirement
Despite several worthy alternatives, annuities remain the best choice for most retirees, with many variations and options on offer
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The new wave of annuities
Recent tremors in the stock market have emphasised the need to protect pension pots from the effects of inflation and equity downturns
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Choice, choice and more choice
Although more choice generates more work for advisers, the customer will ultimately benefit
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Danger ahead?
The TPA arena has continued to successfully evolve in the face of legislation and competition, but value-for-money and market positioning are issues that will determine the future windfalls of firms
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Danger ahead?
The TPA arena has continued to successfully evolve in the face of legislation and competition, but value-for-money and market positioning are issues that will determine the future windfalls of firms
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The £100bn question…
Alan Smith: Whether it is £18bn or £100bn, there is quite a lot of money tied up in these funds. I am not necessarily convinced that, if there is £100bn, all of it is standing by waiting to get rolled into self-invested personal pensions (Sipps). Probably no more than 20% of the entire fund is standing by, ready to get rolled into Sipps at the moment.
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Look and leap
A combination of current economic factors has seen a rise in the number of companies looking to offload their DB pension liabilities, but is there a limited window of opportunity?
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An honest broker
Getting what you pay for may sound comforting to most consumers but when it comes to financial advice a client’s best interests are better kept when commission is an after-thought
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Stepping around the transfer trap
Last month’s rule changes have forced trustees to scrutinise their transfer practices and to set out how monitoring procedures should be carried out in the future
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TAS Awards 2008
This year’s Technology, Administration & Service Awards rewarded the creativity and dynamism of the industry. Here, Pádraig Floyd reveals who won what and why
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Fighting the fire of conflict
Financial woes have the potential to ignite smouldering conflicts of interest within trustee boards as trustees are placed under increasing pressure
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Scott: the former marketing director moves up to CEO |
Scott made Santander CEO
Santander Asset Management UK has named Jeff Scott as its new chief executive officer, taking over from Ignacio Izquierdo.
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Moore: leaves CFO post at HMRC to join Pension Corporation |
Pension Corporation acquires Moore talent
Pension Corporation has snapped up former Friends Provident chief executive and group finance director Philip Moore as group finance partner.
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First non-execs hired for Club Vita board
Hymans Robertson’s longevity research offshoot, Club Vita, has drafted in its first two non-executive directors.
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