Treasury

Financial advisers look set to share a collective guidance guarantee bill of £4.2m in 2015-2016, according to government forecasts.

The government has recovered a further £1.3bn from the Landsbanki estate in Iceland, which operated as Icesave in the UK, following its collapse at the height of the financial crisis.

The Financial Conduct Authority (FCA) must establish a ‘second line of defence' for retirees ahead of pension freedom or the industry faces another major mis-selling scandal, according to MPs.

The government has dropped plans to fine savers who access defined contribution (DC) pots under changes announced in the Budget but fail to alert all their previous pension providers.

John Moret takes a look at the recent Budget changes and asks if they are the catalyst for growth in the retirement market.

People who have already taken their tax-free lump sum will be given more time to decide what they want to do with the rest after the government scrapped the rule forcing action to be taken within six months.

Shares in Lloyds Banking group fell more than 5% this morning after the government sold another 7.8% of its stake in the bank last night.

Chief Secretary to the Treasury Danny Alexander has suggested the 2014 Budget will avoid tampering with pensions.

FIVE THINGS

The Treasury has spent more than £2.6m on administering the Equitable Life payments scheme (ELPS) in the three months to November, government figures have shown.