The triple lock for state pensions has led to an extra £11bn being spent a year by the government, research by the Institute for Fiscal Studies (IFS) has found as Money Marketing reports.
The IFS says pensions would be 11% lower if it had not been adhered to and it suggests that the lock cost could reach anywhere between an additional £5bn and £45bn a year by 2050 because of the variability of the measures by which it is raised.
The lock is an example of a policy which would be very painful (for political parties) to change but is also representative of the UK's fiscal challenges. It could still be around for a long time.
Canaccord Genuity Wealth Management is turning the discretionary small cap portfolios it runs into a unitised fund as a result of consumer duty requirements, as FTAdviser reports.
Platform Novia has told staff in its technology and change team that they are at risk of redundancy.
The Wealthtek scandal is a staggering FCA failure, given the whistleblower and several other red flags argues Jack Gilbert in an opinion piece for New Model Adviser.
Writing in Professional Adviser, AJ Bell's Laith Khalaf argues that Labour's lifetime allowance restoration pledge is essentially a wealth tax that presents a financial planning 'nightmare'
Yet elsewhere, in NMA, Royal London’s Jamie Jenkins does not think advisers should bank on Labour restoring the LTA.