Briefing FSA platforms consultation paper June 2012 »
In late June the FSA published a consultation paper into
payments to platform service providers and cash rebates. This
briefing provides an overview.
The ageing population: UK longevity »
In this special lecture held to mark the CII's Chartered
Centenary, Professor Steven Haberman (deputy Dean at Cass Business
School, a member of the ABI's Research Advisory Board and of Legal
& General's Longevity Science Advisory Panel) outlines his
projections for UK longevity and mortality rates, the factors
affecting life expectancy and the implications for the
insurance sector and society as a whole.
CII Research: Auto-enrolment and small businesses »
The Government's workplace pension reforms represent a
significant challenge for small firms, many of whom will have to
offer their employees an occupational pension scheme for the first
time. This research report identifies how ready small businesses
are for the reforms and how financial advice can help.
Marketing death: »
How do companies sell life insurance in a country where
death is a taboo subject? In Marketing Death, Cheris S.C. Chan
explores both how and why the life insurance industry has managed
to emerge in China, a country with an entrenched cultural stigma
against the very topic of death.
FSA – Traded life policy investments »
The FSA has confirmed guidance that traded life policy
investments (TLPIs) are high risk products that should not be
promoted to the vast majority of retail investors in the UK. The
guidance is an interim measure - the FSA will shortly be consulting
on new rules imposing significant restrictions on the promotion of
non-mainstream investments, including TLPIs, to retail
investors.
FSA - new rules on pension transfer value assumptions »
The FSA has published new rules and guidance, following
consultation, to strengthen the protection for members of defined
benefit pension schemes who are considering moving their money into
personal pensions. The changes are designed to deal with the FSA's
concern that in most cases a pension transfer is not in the best
interest of pension scheme members.
The money myth »
Alexander Davidson, senior editor at Thomson Reuters Accelus,
looks at how classical mythology can help us when investing in
financial markets.
New threat to pension rights of bankrupt members »
The recent ruling in the High Court in the case of Raithatha v.
Williamson, has changed the previous accepted understanding of the
position on bankruptcy and pensions. Details of this case can be
found here. It had generally been understood that where an
individual was made bankrupt on or after 29 May 2000, that his
pension benefits would remain outside the clutches of the trustee
in bankruptcy(TIB), except where his retirement benefits were
already in payment, when the TIB could make a claim for an income
payments order. The Williamson case has now indicated that a TIB
may make a claim for an income payments order, even where an
individual had not yet commenced drawing his retirement benefits,
provided the individual was eligible to draw those benefits but had
chosen not to.
PFS Technical news April 2012 »
Update from 22 March 2012 to 19 April 2012. A look at the
decisions made in the budget and the impact this will have for
financial planning in these areas.
Converging ideas: Building a European-wide supervisory culture in insurance and pensions »
After what seemed like a flurry of regulatory activity in a
relatively short space of time, the European Insurance &
Occupational Pensions Authority (EIOPA) was formed in January 2011.
It seemed like the body was formed while many in the industry were
still wondering how a pan-European insurance supervisor of
supervisors could operate in practice without compromising the work
of the national authorities. In this article, Gabriel Bernadino,
Chair of EIOPA provides a perspective on the Authority's first year
of operation.
Business succession planning: life assurance »
In the first article in this series on business succession
planning I stated that where a business has more than one owner the
most appropriate vehicle, (but not necessarily the only one), to
achieve a smooth and tax-efficient business succession is the
business trust arrangement.
What value a life company? »
Life companies provide long-term investment opportunities for
policyholders but, as The Journal reports, a recent report from
Swiss Re suggests life firms could be doing more to explain their
value to other stakeholders.
Faculties and Societies »
The CII has a range of specialist faculties designed to serve
individual members personal career development needs. Each faculty
provides a specialist forum to encourage and promote progression to
qualified status and the maintenance of good practice, the highest
standards of competence, expertise and professionalism for staff at
all levels.
Implementing the Dilnot report on the funding of long-term care in the UK »
The CII's Life & Pension's Faculty recently supported a
high-profile Reform seminar held at the CII's Insurance Hall to
discuss implementation of the Dilnot report on funding long-term
care.
Implementing the Dilnot report on the funding of long-term care in the UK II »
The CII's Life & Pension's Faculty recently supported a
high-profile Reform seminar held at the CII's Insurance Hall to
discuss implementation of the Dilnot report on funding long-term
care.