Chancellor Rachel Reeves has launched a "landmark review" into pensions to boost investment, increase pot sizes and tackle waste in the pensions system as FTAdviser reports.
Citywire focuses on the £11,000 boost claim from the Treasury. A lot of attention is being given to the value for money framework though many in the pensions sector remain cynical about such figures.
The review will be led by the first ever joint Treasury and Department for Work and Pensions Minister, Emma Reynolds (Minister for Pensions).
The review will be done in phases, with the first stage focusing on investment. The second phase of the review, starting later this year, will consider further steps to improve pension outcomes and increase investment in UK markets, including assessing retirement adequacy as Corporate Adviser reports.
The Telegraph suggests the review may require an increase in auto-enrolment contributions from employees.
Hargreaves Lansdown (HL) has pushed the deadline for a £5.4bn takeover bid to the 5th of August as Investment Week reports. The bid is led by CVC Capital Partners.
The Microsoft outage affected several platforms as Money Marketing reports
Including and providers including Quilter, Royal London, Scottish Widows, Abrdn and 7IM.
The Treasury collected £2.1bn in inheritance tax from April to June as Money Marketing reports.
The “Trump trade” (stocks which may benefit from a Trump Presidency) could unwind after President Joe Biden withdrew from the 2024 presidential election, throwing his weight behind Vice President Kamala Harris.