PRIIPs – Regulatio ad absurdum

April 14, 2016 Tom Murray

PRIP PRIPs regulation PRIIP PRIIPS

PRIIPs – Regulatio ad absurdum In January 2011, I wrote a blog entitled “Two pints of lager and a packet of PRIPS, please”, which was slightly less than confident about the efficacy of the EU’s proposal to introduce more regulations around the sale of PRIPS (Packaged Retail Investment Products).  Since then, teams of people in various EU bodies have beavered away at enormous cost and finally, 5 years later, their definitive directive is about to become EU-wide law. 
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FCA surprised that doing nothing didn’t fix OMO!

January 08, 2016 Tom Murray

Pensions UK Retail Distribution Review Financial Conduct Authority Life and Pensions

FCA surprised that doing nothing didn’t fix OMO! The Financial Conduct Authority (FCA) have released data that shows that the majority of people purchasing annuities actually bought them from their existing provider and didn’t make use of the Open Market Option to shop around for a better deal.
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The Brexit circus is coming to town

January 07, 2016 Tom Murray

forecast Investment markets UK Bank of England EU

This article was originally commissioned and published in December 2015 for Investment Life & Pensions Moneyfacts. Tom Murray considers the troublesome wait for Brexit and how this uncertainty could cause major volatility in the investment markets.
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Life and pensions set for a good year in 2016

January 04, 2016 Norman Carroll

tablets 2016 pensions savings Pensions UK

Life and pensions set for a good year in 2016 The last few years have been difficult for all of us working in the financial services sector. The hangover from the boom that preceded the global financial crisis of 2008 lasted far longer than originally predicted, and the ‘plink, plink, fizz’ of the austerity cure was slow to work its magic.
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Pension Wise – Paying more for less

December 21, 2015 Tom Murray

Pensions UK guidance average cost of IFA Life and Pensions

Pension Wise - Paying more for less When George Osborne stood up and accidentally announced that there would be advice given free to all when they reached retirement, so that people would be educated in how to make the most of their new pension freedoms, the Treasury spin doctors leapt into action to clarify the statement. What was meant was guidance, we were told, a cheaper level than advice which would guide people through the options available but definitively not recommend anything to the individuals receiving the guidance.
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Exaxe White Paper: Real-time data and UK Policy Administration Systems

November 10, 2015 Exaxe

White Papers Pensions UK Admin Plus wrapping legacy systems

Exaxe White Paper: Real-time data and UK Policy Administration Systems Is your PAS choking your customer-driven strategy? This white paper examines the challenges facing providers in administrating business in the life and pensions industry as we move towards the third decade of the 21st Century, and it considers what are the fundamental requirements needed for an administration system if it is to meet those challenges.
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Forget robo-advice. Robo-guidance is the answer.

November 02, 2015 Tom Murray

Pensions UK automated guidance guidance pension freedoms

Forget robo-advice. Robo-guidance is the answer. The difficulty of separating out the difference between guidance and advice has caused much anguished discussion in the press ever since the idea of guidance was first mooted after the introduction of pension freedoms. True, advice is too expensive for those with smaller pension pots, but arguably their lack of money means that they are more in need of advice to make sure they don’t make mistakes with the little they have.
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Providers face witch-hunt on exit charges

September 09, 2015 Tom Murray

Pensions UK bank account pension freedoms retirees

Actuarial Post: Providers face witch-hunt on exit charges This article was originally commissioned for the July/August 2015 edition of the Actuarial Post.
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More regulation is not the answer

August 06, 2015 Tom Murray

Pensions UK trustee Life and Pensions regulation

More regulation is not the answer I went to see my consultant prior to an operation on my shoulder. He gave me two options and then asked me which one I wanted to take. A bit astounded, I told him that I was paying him to make the best decision, he had 7 years of medical school and over 20 years’ experience to help him, and therefore there was no point in me trying to decide based on information gleaned from 15 minutes on Google.
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Long-term care: Care-less attitude doesn’t bode well…

July 23, 2015 Tom Murray

Pensions UK Pensions freedom Life and Pensions Government

Care-less attitude doesn’t bode well… Hot on the heels of the Chancellors pension freedoms comes the news that the changes to the long-term care system that were designed to make long term care more affordable are being delayed until the next government. 2020 is now the stated date for the introduction of the reforms based on the Dilnot report, although they were due to go live in April 2016.
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