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Tag Archive: ABI

  • Collective pensions gets mixed response

    Otto Thoresen, the Association of British Insurers’ (ABI) director general, has responded to the two Pensions Bills announced in the Queen’s Speech today. Thoresen asserted that the pension reforms previously announced in the Budget had radically changed the UK savings … Read more »

  • ABI calls for pension reform clarity

    The Association of British Insurers (ABI) has called for clarity from the Government regarding the changes to pensions announced in the Budget last week. Huw Evans, ABI Director of Policy, stated that pension and annuity providers were given no advance … Read more »

  • ABI announces retirement income reforms

    Customers will benefit from more help when they turn their pension savings into retirement income, the Association of British Insurers (ABI) has announced. A new minimum standard for customers is to be introduced in the pensions industry, building on the … Read more »

  • Delay to pension charge cap is welcomed

    The National Association of Pensions Funds (NAPF) has stated that it welcomed the written Ministerial Statement which addressed a number of concerns regarding the implementation of any policy on pension charges. During the consultation on the policy, the NAPF was … Read more »

  • Aviva emphasises value of annuities

    Aviva has commented on recent discussion about the value for money that annuities offer, particularly when compared with other potential investments (such as yield rates on lower risk investments such as gilts). The firm stresses that such direct comparisons can … Read more »

  • Annuity-switching plan is unsound

    The proposal by Pensions Minister Steve Webb for switchable annuities has not received the approval of Fraser Smart, Buck Consultants’ managing director. Smart warned that the whole premise of being able to switch annuities was unsound. He stated that the … Read more »

  • ABI DG calls for pensions revolution

    The ABI’s Director General Otto Thoresen has described the steps that need to be taken to head off the enormous pensions challenge that the UK’s demography presents. By 2030 the population of over 65s will increase by nearly 50% to … Read more »

  • DWP has defined ambition for pensions

    The Department of Work and Pensions (DWP) has set out a range of proposals designed to improve workplace pensions for future generations. The changes are intended to increase certainty, share risks more equally, and encourage employers to offer the best … Read more »

  • Don’t settle for less than the best annuity

    Key Retirement Solutions, the leading over 55s adviser, has warned that pensioners shopping around for annuities could actually be losing £33m in income a year. The surprising shortfall is due to specialist services failing to offer the best deals on … Read more »

  • Government consults on pension charge cap

    The Pensions Advisory Service has responded to the cap consultation, with probable caps of 1% and 0.75% having already been suggested. If someone pays in £100 per month to a pension over 46 years a charge of 1.5% would cost … Read more »

  • ABI calls for tax reform to boost pensions

    The Association of British Insurers (ABI) has called for the UK pensions tax system to be reformed, in order to help support those on lower and middle incomes secure their retirement. The call was made at the launch of a … Read more »

  • ABI DG states that pensions industry must change

    Otto Thoresen, the director general of the Association of British Insurers (ABI), has stated that the pensions industry must consider a new approach for the next generation of retirees. Thoresen, speaking at the National Employment Savings Trust (NEST) Annual Forum, … Read more »

  • ABI Code to help retirees buy the best annuity

    People nearing retirement will be able to benefit from clearer information on getting the best pension deal thanks to a new initiative launched by the Association of British Insurers (ABI). Every year 400,000 people buy an annuity, and the ABI … Read more »

  • Pension providers agree disclosure on charges

    Some of the UK’s leading pension providers have signed an agreement developed by the Association of British Insurers (ABI) promising “consistent and straightforward” disclosure of pension charges and costs to employees in workplace pension schemes. The agreement will be implemented … Read more »

  • ABI sees amber over Lloyds’ remuneration report

    The Association of British Insurers (ABI) has concerns about remuneration practices at the part-nationalised Lloyds Banking Group. As the representative body of some of the bank’s leading shareholders, the ABI has issued an “amber alert” on a remuneration report that … Read more »

  • Bank loan target considered a red herring

    The day after Chancellor Alistair Darling delivered the final Budget before the election, TMA (UK) has warned that nothing he said will address the liquidity problems facing Britain’s struggling businesses. Director Tyrone Courtman has described the £94bn target for new … Read more »

  • IEA slams Darling for ducking tough decisions

    Free market thinktank the Institute of Economic Affairs (IEA) has attacked Chancellor Darling’s Pre-Budget Report (PBR) for ducking the tough decisions necessary to reduce the nation’s deficit. Director General of the IEA Mark Littlewood described the tax on bankers’ bonuses … Read more »

  • ABI survey: most people lose confidence in saving

    The Association of British Insurers (ABI) has published research which reveals a worrying picture of public opinion towards saving. The Savings and Protection survey, conducted by YouGov, showed that almost three-quarters (73%) of Britons think that the benefits of saving … Read more »