Posts Tagged 'Legislation'

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Protected Rights – new possibilities from April 6th

Historically, many people chose to contract out of the State Earnings Related Pension Scheme using a personal pension scheme. Put simply, this meant that the money that would have gone into the State Earnings Related Pension Scheme (SERPS) went into their personal pensions instead – effectively, they were swapping known benefits from the Government for unknown (but potentially greater) benefits from their own pension scheme.

Money which was re-directed in this way was known as ...

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APR
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Categories: Financial Planning

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Budget 2012 – what it means for you

Summary

The Chancellor presented his third full Budget since the coalition Government took power on Wednesday, 21st March.

Billed as ‘the budget for working people’ with a promise to ‘back business’, Mr Osborne highlighted the Government’s commitment to three specific areas: a stable economy, a fairer, more efficient and simpler tax system and reforms to support growth.

As the Budget was announced, the Office for Budget Responsibility (OBR) increased its forecast for UK GDP growth in 2012 from 0.7% to 0.8%. It predicted ...

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MAR
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Categories: Financial Planning

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FSA to raise consumer awareness of deposit protection

The Financial Services Authority (FSA) is making it obligatory for all banks, building societies and credit unions in the UK to prominently display, in every branch and on every website, how much compensation savers could claim in the event of an institution failing. This is part of a continuing effort by the FSA and the Financial Services Compensation Scheme (FSCS) to improve confidence around compensation by increasing awareness of deposit protection.

Proposals published in December 2011 require each FSA-authorised bank or ...

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Categories: Financial Planning

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