Industry News

Initial rush to cash in pension pots ‘has ended’, says regulator

There has been a gradual decline in the numbers of people releasing cash from their pension pots early, a year after rule changes allowed them to do so, according to a report published by the Financial Conduct Authority (FCA). Since 6 April last year, savers have been able to release cash from their pension pot, […]

New tax measures come into effect

A number of key changes to tax legislation have now come into effect, following the start of the new 2016/17 tax year. The changes include reforms to the rules on national insurance, with employers no longer required to pay Class 1 secondary (employer) national insurance contributions (NICs) on earnings paid to qualifying apprentices under the […]

MPs warn ‘too few’ understand new State Pension

The Government has failed to make it clear that many individuals retiring on the new State Pension will not receive the maximum rate, MPs have suggested. Data contained within a Work and Pensions Committee report on the matter revealed that just 13% of savers reaching State Pension age will receive the full amount of £155.65 […]

Record current account deficit figures described as ‘truly horrible’ for UK economy

The UK’s current account deficit in the three months to December 2015 was a record high of £32.7 billion – a figure that was described as ‘truly horrible’ by one economist. Howard Archer, chief UK and European economist at IHS Global Insight, also said that the news was ‘a particularly uncomfortable development for the UK […]

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