Annuities: FSA to investigate the Annuity market

working paper with a diagramThe Financial Services Authority (FSA) is to announce that it intends to investigate the Annuity market to see how many people are losing out by not shopping around for the best Annuity rate when they retire. The Annuity market in the UK is worth a reported £11 billion each year to the insurance industry. However, there has been rising concern amongst leading financial experts and special interest groups that would-be retirees are losing out by buying uncompetitive Annuities....

Pensions: New pension threat on the horizon?

Speculation grew in the media today that the Chancellor, George Osborne, is planning yet another change to pension’s legislation which could affect thousands of people’s retirement planning. In his effort to reduce spending and raise additional revenue it seems as though Mr Osborne is once again looking at reducing the tax breaks offered to those people carefully planning for their retirement. Pension contributions attract tax relief, making them an attractive option for investors but costing the Treasury around £20 billion last year, making it an obvious target....

Investment Sense in the Financial Times talking SIPPs

Investment Sense in the Financial Times talking SIPPsSIPPs are an area we specialise in; we were therefore delighted to be asked to appear on this week’s FT Money Show. Our Marketing Manager, Phil Bray, discussed SIPPs in general and more specifically SIPP deposits along with the problem of poor interest rates on mandated SIPP cash accounts. The FT Money show is followed up by the Money section of Saturday’s Financial Times, which looks at how SIPP deposit rates compare to personal accounts and other issues regarding ...

Bailing out Anglo Irish Bank could cost 34 billion euros

The Irish central bank has warned that rescuing the Anglo Irish Bank from ruin could cost up to 34 billion Euros in the worst case scenario. In the best case, it will still cost a whopping 29.3 billion Euros to bail out the financial institution that was exceptionally hard hit by the economic crisis. The Allied Irish Bank, in which the Irish government has a 19% share, will also need to to raise three billion Euros before the end of the year.