Government review will examine whether pension age should continue to be linked to life expectancy. Speculation is rife that a new review of retirement age will lead to workers joining the workforce now not receiving their state pension until at least their mid-70s. The study, which will report to the government next May, will be headed by John Cridland, the former CBI boss. It’s a scheduled assessment due to be…
There are some big changes in employment law in 2016, and companies need to be prepared Employment law is constantly evolving, as new rules and regulations come into force, and as such it’s imperative employers are informed and prepared. 2016 will see a number of important changes of which all employers should be aware Pensions State pensions are set to be radically overhauled in April with the introduction of…
The new rules on encouraging staff to ‘blow the whistle’ in financial services firms are a significant development for whistleblowing in general. Firms must promote whistleblowing internally, and nominate a ‘whistleblowing champion’ by 7 March 2016 who will oversee the implementation of whistleblowing policies and procedures which must be in place by 7 September 2016. The changes stem from proposals last October by the Financial Conduct Authority (FCA) and…
Tasting the Freedoms: savers have spent the money or held it in cash The Pensions and Lifetime Savings Association has published its latest wave of research on patterns in retirement following the reforms. Of those adults aged 55-70 surveyed, the majority, 63%, had started to look at how they would take their pension, and 23 per cent had done nothing. Of those that accessed their pension, 18 percent spent…
15% – Proportion of Ucits funds that could be “closet trackers”, according to the European Securities and Markets Authority 20% – Rise in revenue reported by Mattioli Woods following a spate of acquisitions 30 – Number of sales roles being cut by Aegon as part of a shift towards its platform business £600m – Value of build-to-rent deal entered into by Legal & General with Dutch asset manager PGGM. The rental income from…
The recruitment industry is, according to the REC, in rude health! It predicts that in 2016 more than 90% of employers will increase headcount. However, one of the significant external influences that is going to hit the sector this year is the National Living Wage. From April 2016 individuals aged 25 and over will be entitled to receive the National Living Wage of £7.20 per hour, increasing to above £9…
January Job Market Report Key points from the survey: Slower rises in both permanent and temporary staff appointments Permanent salary growth moderates to 26-month low Candidate availability falls at weaker, but still marked, rate Commenting on the latest survey results, Bernard Brown, Partner at KPMG, said: “Hiring remained slow but steady during December, with businesses and candidates keen to complete negotiations before Christmas. We are beginning to see…
The Week in Numbers 225 – Number of Investment Advisers Santander expects to employ by the end of March 7% – Fall in China’s CSI 300 index on Monday, triggering newly-introduced “Circuit-Breakers” that halted trading for the day 21% – Rise in mortgage approvals year-on-year in November, according to Bank of England Figures 13k – Number of new affordable homes the Government plans to build this year through directly…
The Week in Numbers £6m – Size of FCA fine imposed on Threadneedle Asset Management for allowing a fund manager to book a trade that could have caused a £72m lose to client funds 5 – Number of firms the FCA is considering taking enforcement action against following the findings of a thematic review into wealth managers 0.44% – Charge for the eVestor robo-advice service to be launched next…
The Week in Numbers 9% – Annual rise in house prices in the three months to November, down from 9.7% in October, according to Halifax £20K – New minimum capital adequacy requirement for advice firms. It was previously £10,000. 0.3% – Expansion of Eurozone GDP in Q3 2015, compared to Q2, according to estimate by Eurostat 25% – Shares in Clydesdale and Yorkshire Bank to be sold in an…
