Aegon is told that is cannot demand money back from a former policyholder who was still paid a terminal bonus despite having transferred out of a with profits fund several years’ previously reports FTAdviser.com.
Part of the case with the FOS relies on the fact that the policyholder says he decided to retire on the basis of wrong information.Tough argument to beat clearly.
Elevate stays separate says Standard’s platform boss David Tiller.
Is RBC making mischief? The broker says Standard is likely to sell off its insurance business or perhaps merge part of it with Scottish Widows. The annuity book could be sold off as Standard admitted previously.
Money Marketing’s cover story looks at the prospects for the pension dashboard including looking at what has been left out including charges.
Lloyds has set aside £100m for compensation of victims of fraud through a Reading HBoS branch with concerns that some of the problems were subsequently covered up. Lynden Scourfield and five associates have been sentenced to a combined 47 years for pushing business customers towards a turnaround business.
Miton’s David Jane warns of the risk of a credit driven recession.
There are suggestions that buy-to-let investors are borrowing less amid tougher lending criteria from Mortgages for Business.
Billy Burrows discusses the pension freedoms on its second anniversary and the implications of the fact that drawdown is now seen as the default.
Lot of discussion on twitter about pension transfers including a recent event which was judged to be pushing transfers rather than debating the advice. More to follow no doubt.