United Kingdom
Retirement | 22 Mar 17
Treasury ruling out pension raid for now claims AJ Bell
AJ Bell is claiming that the UK Treasury has ruled out changes to pension tax relief within the next few years, despite government sources suggesting that this is on the agenda after the post Spring Budget climbdown on national insurance contribution rises for the self-employed.
Best Practice | 21 Mar 17
Finance Bill offers no clarity on life policy part surrenders
The Finance Bill failed to shed more light on how HM Revenue & Customs plans to recalculate the gain on partial surrenders when policyholders withdraw money from their life insurance policies the wrong way, says Rachael Griffin, financial planning expert at Old Mutual Wealth.
Middle East | 21 Mar 17
Holborn Assets ordered to immediately cease pension transfers
The UK Financial Conduct Authority has ordered Holborn Assets Ltd to immediately cease all pension transfer business, particularly that introduced by overseas advisers.
Phoenix Group on growing and consolidating its brood
Having bought Axa Wealth and Abbey Life in 2016, Phoenix Life chief executive Andy Moss tells International Adviser about the group’s consolidation history and how it brings all of its new business on board.
Axa Wealth and Abbey Life acquisitions drive Phoenix growth
Phoenix Group is eyeing further acquisitions after Abbey Life and Axa Wealth added £22bn ($27.3bn, €25.4bn) in assets under management and more than 1.6 million policies to the life company consolidator’s books in 2016.